Beyond just misleading, limited data can harm your business. Market analyst, Gartner, found that 27% of the data in the Fortune 1000 companies is considered flawed, which they defined as inaccurate, incomplete, or duplicated. According to their research, poor quality data leads to high costs, a high customer turnover rate and excessive expenses. IBM estimates that bad data costs the US economy roughly $3.1 trillion dollars each year. They also found that 1 in 3 business leaders don’t trust the information they use to make decisions. Experian Data, in a separate study, determined that flawed data impacts the bottom line of nearly 90% of all American companies.
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