Transcribed

Losses to US Economy Due to Bad Data

LOSSES TO US ECONOMY DUE TO BAD DATA Top Industries Using Big Data to Change Business Models Government Advertising/PR Healthcare/Life Sciences Financial Services Manufacturing Retail Retail Manufacturing Financial Services Healthcare/Life Sciences Advertising/PR Government 1-10-100 Rule of Quality Management start finish Cost of errors escalate as failure costs become greater e$1 Cost to verify a record as it enters the system O$10 Cost to dedupe and cleanse after it has been entered into a database O$100 Cost of mistakes caused by bad data that reoccur Data-related problems cost the majority of companies more than $5 million annually One-fifth estimate losses in excess of $20 million per year 50% Customer Retention US Corporations Lose 50% of Customers Every 5 Years ★10%-30% Annual percentage of customers lost by the average company Sources: Data Ladder, ATKearney.com, BIM360Field.com, Forbes.com,

Losses to US Economy Due to Bad Data

shared by Dheeruyadav on Jun 16

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It’s common knowledge that having bad, inaccurate data can cost your company a lot of money. But just how much does it really cost a company, and in the bigger picture, our economy?

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Dataladder