But it is true or at least with many companies, campaigns or projects . . . they function as if it were true.
Let me break down the math for you. Many of us base our expected outcome by building on elements such as access to data, corporate culture, willingness to listen, or just plain luck… the good, the bad or ugly. When you add these elements together, the outcome is not a consistent mathematical result, but as Hepler’s Law contends, “It all depends and you never can tell”. Most of the elements used in our decision-making process are not under our control or influence, so Captain Obvious would tell us that for a more predictable outcome, focus on the things that you can control, manage and verify. Since 40% of business objectives fail due to inaccurate data and a Forrester report reveals that “nearly one third of analysts spend more than 40% of their time vetting and validating their analytics data before it can be used for strategic decision-making”, then ensuring that your data is clean, correct and useful from the start, has the biggest impact and greatest cost benefit regardless of the size of your company or budget.
Henrik Liliendahl lists out the major factors and trends considered in data quality dimensions including completeness, validity, consistency, accuracy, timeliness, accessibility and other items but where do you start? The simple truth is that when you start with basic data validation as the data is ingested and before using, importing or processing then data accuracy dramatically improves along with increased timely decision making.
There are many simple Data Validation Best Practices “The data validation process should be viewed as a vehicle for continuous improvement. As errors are detected, fixes should be applied to the systems that provide the data to improve the data quality at the information sources. This reduces potential future errors, and results in overall long-term system optimization and streamlining of business processes.”
“Most of the world will make decisions by either guessing or using their gut. They will be either lucky or wrong.” – Suhail Doshi, chief executive officer, Mixpanel.
So, what’s your plan?