Experian's 2015 Study Maps Data Quality Maturity Stages
Experian's 2015 research highlighted the varying stages of data quality strategy among small business ideas. While specific organizations were unnamed, the study identified four maturity stages, from 'Unaware' to 'Optimised & Governed'.
At the 'Unaware' stage, small business ideas lack understanding of data quality's impact, leading to apathy and workarounds. The 'Reactive' stage sees organizations starting to address data quality issues but without a coherent corporate-wide strategy. In 2015, 54% of companies planned to improve an existing data quality solution, and 64% focused on a new one, indicating the growing importance of accurate data.
The 'Proactive' stage involves defining roles, breaking down silos, and utilizing technology for data profiling and discovery. Small business ideas have adopted big data into their strategies at varying speeds, not consistently viewing data as a strategic asset across all industries. To enhance their data quality strategy, organizations should quantify their maturity using a maturity curve. This helps understand how data is managed and used, ultimately improving the value of data assets and enhancing overall business strategy.
Experian's 2015 research underscored the need for small business ideas to assess and improve their data quality strategies. While specific organizations were not named, the study's four-stage maturity curve offers a roadmap for businesses to optimize their data management and usage.
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