Are there hidden data errors costing your organization millions of dollars?

December 16, 2015

Image_Huge Data Errors

Business interruptions due to data errors can occur in any area of an organization and cause ripple effects of excessive time and cost. This includes production delays, cost overruns, incorrect customer orders and more, that could equate to millions of dollars. Bad data can result from differing definitions of common terminology across applications, duplicate entries and even various renderings of the same information. 

The smallest data error can have a major impact. For example, one particular consumer goods customer used a pallet as a unit of measure and that pallet holds 8,000 items. When they placed an order in their new system, they entered 8,000 - but instead of getting one pallet of 8,000 items, they received 8,000 pallets of 8,000 items. For companies that are manufacturing hundreds of thousands of different materials, something as simple as units of measure can create huge issues if they are not translated correctly in the new system. In this case, the company had to pay more than $150,000 in restocking fees to send the extra items back.

Share this Marketoon or use it to generate a conversation around data quality at your organization. 

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