What You Need to Know about Bad Data and How it Affects Your Organization

Your company has a lot of expenses – such as payroll, carrying inventory, cost of sales and even shipping.

Have you ever thought about how much you’re paying for shipping costs alone? Whether you are a large organization or a small one your yearly shipments can reach into the thousands and in many cases millions. In either case, a small percentage of bad data makes a big difference to your bottom line.

In this article, we will talk about some of the pitfalls of bad data and how it affects your organization from the compliancy risks, overall costs and most importantly your reputation.

Let’s say you are a manufacturing and distribution organization and you process a million packages per year:

The Bottom Line is…

Fractional discrepancies in data can result in extreme repercussions and risk. In the example above, 2% of bad data from the total of your yearly shipments equates to roughly $100,000 in cost to your organization!

Still not convinced?

  • IBM’s estimate of the yearly cost of poor quality data for 2016, in the US alone, is $3.1 trillion.
  • Workers waste up to 50% of their time hunting for data, finding and correcting errors, and searching for confirmation on data they don’t trust.

Are you curious how much bad data is costing your organization? We can tell you in less than 2 minutes – click here to try our simple Bad Data Calculator.

The post What You Need to Know about Bad Data and How it Affects Your Organization appeared first on Avantiico.

Comment List