Some striking evidence of the impact of bad data can be found in fake email IDs, impersonations on social media, or misuse of stolen financial or personal information. The more widespread harm can be caused by bad data in Data Analytics, where anything from the wrong medical diagnosis to incorrect interpretation of stock history can cause service providers to close shops or face lawsuits.
With the wide proliferation of big data, the Internet of Things (IoT), and real-time analytics, the chances of acquiring huge volumes data at high speed is assured, but the current Data Governance processes of many organizations are still not sophisticated enough to trap the inaccuracies in such high-speed and high-volume data. The Result? Bad diagnosis, bad predictions, and missed opportunities across all industry sectors.