Market Data Hub

According to research agency IDC, the worldwide market for Big Data amounted to $ 136 billion in 2016. At the same time, IBM reported that the cost of poor data quality amounted to $ 3.1 trillion in 2016, in the US alone. That is a factor 23 higher! Thomas Redman labels this in the Harvard Business Review as ‘The Hidden Data Factory’. Just take a moment and realize how many people and processes are involved in data and in particular with faulty data. Realize how many people and departments are spending hours to correct a small mistake in data. Then the staggering sum of $ 3,1 trillion may be not that remarkable.