Data Related Concepts

Data Credibility

Data credibility means that data is complete and accurate, and it is a crucial foundation for building data trust across the organization. Up-to-date and accurate data can help prevent wasting money on ineffective tactics. Using unreliable sources results in negative consequences. Credibility is especially important to business professionals because using unreliable data can cause internal and external stakeholders to question your decisions and rely solely on their own opinions rather than factual data. Good data decreases risk and can result in consistent improvements in results. According to Gartner research, the average financial impact of poor data quality on organizations is $9.7 million per year.