In 2002, Poor Data Quality cost the the US Companies $600 Billon a year.

This was the result of The Data Warehousing Institute (TDWI) study in 2002. The study was based on survey data from 647 respondents.

What i find interesting in this study is this:

“Almost 50 percent of survey respondents express no current plans to implement an initiative to improve data quality, while 78 percent said their organizations need additional education about the importance of data quality and methods to maintain and improve it.

“The good news is that achieving high quality data is not beyond the means of any company,” continued Eckerson. “Companies that have invested in managing and improving data quality can clearly cite the tangible and intangible benefits of doing so.” Benefits include improved customer satisfaction, a “single version of the truth,” and “greater confidence in analytical systems.””

This is the same conclusions I have reached after my cooperation with several customer in the Nordic area. With a small investment in cutting edge technology, you get more satisfied customers and employees, better decision data, and significant reduction in operating costs.

You can read more about the study here.

By the way. 600 Billon USD is 3.928.310.000.000 SEK, 3.340.560.000.000 NOK or 3.105.720.000.000 DKK