When we talk about Big Data, we can sometimes over-focus on quantity at the expense of quality. Yet cleansing and harmonizing master data helps ensure the right people have access to accurate information when they need it. Indeed, better information governance leads directly to more efficient operations, smarter business decisions and lower risk.
To make the argument for quality even more compelling, the penalties for ignoring it are substantial. According to Gartner Research, 40% of business initiatives fail because of poor data quality1. A startling 20% of CIOs in regulated industries will lose their jobs because they failed to implement information governance successfully2. Gartner estimates that, to be successful, spending on information governance needs to increase five times by 20162.
The question is, how and where do you need to invest?
Leading organizations achieve better results by automating data collection, cleansing and classification. By using information management solutions, you too can accelerate governance initiatives by integrating them into business applications and processes. As a result, you can base your operations on standardized, high-quality information, improve your customer service and comply with internal and external regulations.
For example, after implementing successful information governance programs:
- Birmingham City Council in the UK achieved productivity gains of more than 15% over 10 years, resulting in annual savings of £100 million (€121.6 million)3
- Dabur India Limited, India’s fourth largest consumer products company, reduced its risk by achieving 100% regulatory compliance4
Learn more – and use our free calculator to estimate what insufficient data governance is costing your business – at www.sap.com/realtime_data/our_experts.
Join the conversation #redefinedata
1Gartner, Inc., Measuring the Business Value of Data Quality, October 2011
2Gartner Predicts 2012: Information Governance Programs Gain Traction, November 2011
3SAP Business Transformation Study, Birmingham City Council
4SAP Business Transformation Study, Dabur