Today I read a very interesting post from Ken O’Connor on the concept of “an undertaking-wide common understanding of data quality”. Does your organisation have one of those? Are you sure?
For the first time, this has become a requirement for many organisations. Insurance organisations must now prove to industry regulator Solvency II that their calculations are based on the most complete, relevant and accurate data possible and that everyone involved is working from the same data quality textbook (metaphorically or literally). The Pensions Regulator (tPR) has imposed similar data quality requirements on pensions companies in the UK.
Even if there’s no specific obligation for your company to toe that line, it’s sound advice for any business.
Reaching a Shared Understanding of Data Quality
How is “Data Quality” defined and measured in your work? The words are so simple that everyone assumes they know what data quality means. But if everyone’s reaching their own definitions, how do you know they’re working in the same direction?
Clear goals and key performance indicators are vital, as is a shared terminology. It’s also essential that members of the board or data governance committee have the same understanding of data quality as the members of the DQ team.
When there are problems, everyone needs to grasp why. When proactive data quality controls are designed and implemented, the brief must match the requirements of the end users as well as the commissioners. When there’s a win, the board must understand what was won, why it matters and what degree of effort and dedication was involved.
Quality in All Things (Especially Data)
The greatest benefits and returns on investment are earned not only through an undertaking-wide understanding of data quality, but by the sheer power of an organisation-wide enthusiasm for optimising quality in all undertakings.
So what does data quality mean to you and your team? Is it an obsession, a labour or a seemingly unreachable mirage? Whatever your data quality situation, Match2Lists can help – try our lightning fast data matching, merging and deduping tools free today!
