Earlier this year, Great Expectations released its inaugural “State of Data Quality Report” to describe the biggest pain points related to data quality that are currently impacting organizations. Based on survey data from 500 respondents, validated within a community of several thousand data practitioners, they identified patterns and trends in critical issues and how we are collectively responding to them.
Most organizations are still struggling, especially with:
- Quickly assessing the business impact of data quality incidents
- Articulating the business and financial value of investments in data quality work
- Being able to link data quality to business value
- Using these diagnostics to prioritize which data quality issues to fix first
Fortunately, there are some quick wins to be had. While nearly all organizations are aware of how critical it is to ensure data quality, especially as AI becomes increasingly embedded into key workflows, not even a quarter report a systematic, dedicated approach to evaluating and responding to data quality issues. Many organizations still rely on limited manual inspection of the data.
Most curiously, the State of Data Quality Report indicates that data engineers consistently had a higher level of trust in data than analysts and other business users of data. Great Expectations hypothesized that “the effects of poor data quality generally are visible on the business side before they become a significant technical Issue…” an outcome that Ultranauts teams have observed first hand at most of our Fortune 500 clients.
If you know which data assets drive your organization’s workflows, setting up a data quality framework to give you regular diagnostics can now be done in weeks instead of months. Over the past two years, Ultranauts has even identified ways to link business value to data quality tests, and interpret the results from those tests in a way that the business value of data quality becomes quickly apparent.
If you’re in one of those organizations that still relies on risky manual inspection of data, consider launching a data quality test framework this year. It’s a particularly high ROI opportunity to address many of the issues that the State of Data Quality Report reflects, especially if you engage a solution provider like Ultranauts that has invested in this as a core competency.
Don’t fall behind in your data initiatives this year! While the economy is stressed, now is the time for quick wins that will amplify long term value. Your leadership team will thank you.
Ultranauts helps companies establish and continually improve data quality by providing x-ray vision into quality issues, rapidly identifying bottlenecks and inhibitors, and implementing tests that help organizations maintain quality intelligence. If you need to improve data understanding at your organization, especially using the Great Expectations framework, Ultranauts can quickly identify opportunities for improvement that will drive value, reduce costs, and increase revenue.
Great Expectations (2023, January 23). First State of Data Quality Report uncovers a divided house. Available from https://greatexpectations.io/blog/first-state-of-data-quality-report-uncovers-a-divided-house?utm_source=linkedin&utm_medium=social&utm_campaign=state-of-dq&utm_content=blog