As has been said, reliable and truthful data is company´s one of the most valuable assets and its importance cannot be overemphasized. Unreliable data leads e.g. to unreliable and unpredictable decision-making. Therefore, it is necessary to ensure trust in data.
In order for trust to emerge, the key issues that make data unreliable must be identified and fixed. Implementing a comprehensive data quality strategy may take a long time and requires a considered approach, but implementing it in your organization would be e.g. more efficient and generate more revenue.
If data is not constantly maintained it becomes irrelevant and flawed
Brian Balfour has written very interesting essay about Data Wheel of Death. According to him, if data is not constantly maintained it becomes irrelevant and flawed. Then it is inevitable that people lost trust to data and start using less it. He called it the Data Wheel of Death.
Data should referably be an ongoing process, similar to building a product
Another key eye-catching message is that most companies that want to take advantage of data, approach data as a project. Something with a definitive start and a definitive end. Unfortunately, when thinking data as a project, you will most likely get the Data Wheel of Death. Data should referably be an ongoing process, similar to building a product.