Data: A Sea Change Ahead

摘要

If I'm reading the tea leaves correctly, we're on the verge of a sea change in the way organizations manage data. I'm referring specifically to data quality, which has been a thorn in management's side for some time. Data quality — in the "BIG-Q" sense — means having the right and correct data in the right format, in the right place, at the right time to complete an operation, satisfy a client, conduct an analysis, or make and execute a plan. BIG-Q data quality elevates the people using data to the role of customers and recognizes that they are the final arbiters of its quality. Implicit in BIG-Q data quality is that customers can effectively complete their tasks millions of times a day at the lowest possible cost. BIG-Q data quality means that a firm need not worry that its data is incorrect in risk, regulatory and compliance activities. It means that clients, regulators and others can trust opinions, reports and statements. It means that the firm can exploit ever-expanding technological capabilities to take in, assimilate, organize and process massive quantities of new data to better understand clients, markets and products.