Data errors do not disappear
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TRANSCRIPT: Mark Vaughan, Managing Director, QMV
"Data errors do not disappear. For those organisations that choose to ignore their data issues that don't invest in data quality, the issues aren't going away.
They'll get worse and worse and we've seen it really come out from the recent banking royal commission and you see the amount of money that is now being spent on major remediation across all of the large financial institutions in Australia.
Huge amounts of money being spent. It's not just the money and the time or the reputational damage, it's having to look through the rearview mirror.
So when you want to actually be focusing on all these offensive strategies, when you want to be looking toward AI and the future of technology, you actually can't because your focus is in the rearview mirror, it's backward cleaning up all your historical errors.
Data is your most valuable asset. Invest in the quality and health of it and then you'll be able to use it in a really positive way."
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