Video produced by Steve Nathans-Kelly
Jairo Gomez, ACAMS Senior Manager, discussed survey data on the current state of data quality and the frequency and extent of cleanup efforts during his presentation at Data Summit Connect 2021.
Companies have shifted preferences towards using more software service applications, he explained. One of the most important aspects to ensure seamless user experience for both internal and external customers is implementation of the integration between multiple applications.
Companies tend to rely on third party vendors, not just to help deliver products or services, or allow them to perform internal operations, but also to collect data on how these applications are used.
However, the issue arises when organizations are attempting to produce insights, using data, which may reside over in multiple systems on from data or data, which may have gone through some form of ETL and end up in a data warehouse.
"You may end up with a basket full of apples and oranges," Gomez said. "When you really want to adjust a basket full of pears. Another issue comes when no controls are put into place and everyone has access to edit everything. Even poorly labeled data can make the process of mining and reporting extremely inefficient, but perhaps the most shocking aspect about this is the dichotomy between the frustration companies skill about poor data quality."