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paved the wave with demonstrable, repeatable results, most of which haveexceeded their initial expectations.The key concept for building a business case or ROI is to understand therelationship between your data and the business process(es) it supports,and then further, the relationship between those processes and businessresults. When you boil it down, there are three primary areas for businessimpact: increasing revenue by growing the business in some way, savingmoney by reducing costs, or reducing risks and meeting regulatory drivencompliance measures..Included at the end of this paper is a list of projects where someorganizations have been able to realize a return on their investments, tohelp generate ideas about where to look within your own organization.
Funding Enterprise Data Quality and Ongoing Governance
Organizations thinking about Master Data Management and DataGovernance strategies already understand the enterprise concerns thataccompany such large initiatives. Data quality efforts likewise, cannotexist within a project vacuum, and must support short-term business goalswhile delivering quick win results in order to provide true value to thebusiness. Thus, most enterprise data quality efforts start out as a singleproject or focused effort within a single application (albeit an enterpriseapplication at times) with the understanding that the solution must growand extend over time to support multiple applications, service orientedarchitectures, multiple processes, and eventually, a culture shift thatpermeates an organization so that data quality concerns are embeddedwithin every new project or systems effort.The first project will feed return on investment which will drive subsequentgrowth. Through harnessing some significant baseline statistics during thefirst project, you create the opportunity to develop a business case with aproven ROI, to use at some point in the future.
Process to Quantify the Impact of Data Quality
The key to establishing a quantified ROI for data quality efforts is tounderstand the relationship between data and processes, and therelationship between those processes and financial results. The value of particular data is tied to its application and use in a business environment.
The first project will feed your return on investment which will drive subsequent growth.
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