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Enterprises losing money in dysfunctional data cycles

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CIOL Bureau
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Salt Lake City, US: Burton Group, a research and consulting firm focused on in-depth analysis of enterprise technologies, will speak on stopping the dysfunctional data cycle at MIT Information Quality Industry Symposium to be held between July 15-17th.

In these economically challenging times, organizations can no longer afford to ignore the financial burden generated by poorly managed data. As data chaos grows, it's obvious the traditional tools-technology approach to data management is just not working. Valuable resources are wasted as they chase data problems in this dysfunctional cycle of chaos. Things will not get better because of the continued growth of data volumes, which add to the chaotic state of unmanaged data within most organizations.

Enterprises need a formal data management organization (DMO) to bring a dedicated focus on the people and processes responsible for data management. Creating a DMO is the key to changing the approach to data and breaking the dysfunctional cycle of data chaos, thus getting the data right, and managing it as a vital business asset.

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Large increases in costs result from the inaccurate data that is used to make decisions that drive the organization. To compound this problem, regulatory and security requirements are increasing as budgets and resources tighten. All this adds to growing pressure on organizations to either get their data right or face inevitable failure.

Burton Group analyst Noreen Kendle, in her report 'The Data Management Organization: Key to Effective Data Management'said: "Data is clearly an important business asset since it is the raw material used to run an organization and produce information vital for the organization's survival. The management of any asset, such as material or equipment, is absolutely critical for the health of an organization. The same holds true for data because it represents the entire organization,"

To expound on the importance of data quality, Burton Group is providing three analysts specializing in data management to speak at the MIT Information Quality Industry Symposium on how to disrupt the poor data management cycle.

MIT Information Quality Industry Symposium (IQIS) is the premium forum that facilitates the discussion among practitioners and academicians, on how to improve the quality of information transmitted, stored, and processed in organizations. The Symposium aims to help both private and public sectors organizations leverage their information to dramatically improve their productivity and effectively contribute to the socio-economic development of the society at large.