With over 80 percent of companies expressing a lack of confidence in their product data, our team here at Data Ladder decided to assemble some resources and tips to help users and those directly dealing with product data to understand this often complex subject. Our report, Product Data Quality: Capitalizing on Its Value Inside and Outside the Enterprise, provides numbers and statistics on how executives are tackling this issue from the top.
Here’s a few of the findings from the report:
- The world creates nearly 2.5 quintillion bytes of new data every day
- Over 80% of companies are not confident with their product data
- More than 90% of data in an enterprise is unstructured
Gathering the right resources to improve product data quality is an important first step in the process, with nearly 55 percent of respondents indicating this as a large obstacle in their journey to remedy the problem.
In addition, the report offers tips on how companies can manage the inconsistencies that occur with integrating product data from various sources, and how overcoming this challenge can ultimately improve product data quality. By doing so it will help companies control costs, improve quality of goods and services, and help manage vendor risk. For a complimentary copy of the report, click here.
For more information on Data Ladder’s product data software tools, visit our website.