Data Quality at Terminal Velocity

Recently the investment bank Saxo Bank made a marketing gimmick with a video showing a BASE jumper trading foreign currency with the banks mobile app at terminal velocity (e.g. the maximum speed when free falling).

Today business decisions have to be taken faster and faster in the quest for staying ahead of competition.

When making business decisions you rely on data quality.

Traditionally data quality improvement has been made by downstream cleansing, meaning that data has been corrected long time after data capture. There may be some good reasons for that as explained in the post Top 5 Reasons for Downstream Cleansing.

But most data quality practitioners will say that data quality prevention upstream, at data capture, is better.

I agree; it is better.  Also, it is faster. And it supports faster decision making.

The most prominent domain for data quality improvement has always been data quality related to customer and other party master data. Also in this quest we need instant data quality as explained in the post Reference Data at Work in the Cloud.

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2 thoughts on “Data Quality at Terminal Velocity

  1. Absolutely agree, Henrik. Getting it right at point of creation is definitely the answer.

    However, not sure that the majority of data quality practitioners and commentators agree with this. Sadly, if you read the majority of the words written on this subject you will see that many actually believe this to be impossible!!

    I will also be happier when I see reference to Customer as a Master Data Entity disappear and be replaced with Party. This will remove a whole other mountain of data disconnection and duplication.

    • Henrik Liliendahl Sørensen 19th March 2012 / 08:49

      Thanks John. Getting it right the first time isn’t of course easy and perfection may be impossible, but surely there is room for doing it better – and faster.

      I don’t believe one single solution (not to say software brand) or one single methodology will bring us there. We will need a mix of things to be able to be more mature in achieving high quality data at an increasing speed of doing business.

      This includes, as you suggest, having better data models where the customer entity is modeled as a role plaid by a party. We also need better, and faster, access to big reference data about those parties no matter where in the world they are compared to where you are.

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