History tells – Bad data is Costly

July 25, 2017 © Copyright Glomacs

“1 in 3 business managers don’t trust the data they use to make decisions”

Dealing with bad data analytics is not anything new.

Bad data has bankrupted many companies, provoked wars and even made entire civilizations disappear. Some interesting examples from history should be highlighted here.

  • During the 1990’s, NASA took a $125 million dollar hit when it lost the Mars Orbiter.  It turned out that engineering team of NASA responsible for developing the Orbiter used English units of measurement while NASA used the metric system.  The problem here is the data was inconsistent making it a rather costly and disastrous mistake
  • The Enron disgrace in 2001 was largely a result of bad data.  Enron was once the sixth-largest company in the world. A host of fraudulent data provided to Enron’s shareholders resulted in Enron’s meteoric rise and subsequent crash. An ethical external auditing firm could have prevented this fraud from occurring
  • More recently, the 2016 United States Presidential election was also mired with bad data.  National polling data used to predicted a landslide victory for Hillary Clinton, a forecast that lead to many American voters to stay home on Election Day

Including a data analysis training in your organization’s learning needs can prove to be beneficial for your business, regardless of the type and size of your enterprise.

Every year 1000’s of professionals benefits from GLOMACS Data Analysis Training Series. For more than a decade, GLOMACS has been helping companies generate business value with these hands-on data analytics training.

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