Data management is a continual shared responsibility

BUSINESSES have been dealing with large datasets since the invention of the computer. While renewed focus on data and the value that can be unlocked using new technologies and techniques is both true and exciting for businesses, "Garbage In, Garbage Out" is unfortunately also a fact. The term was coined in the early days of computing and is used to indicate that incorrect or poor-quality data input will produce faulty output.

This is even more applicable today, where the creation of data is happening at breakneck speed and the use of data in companies has become pervasive and critical to operations. Given the reliance on data in the modern company, not being able to assess whether or not your data meets current and future business requirements poses an increasing regulatory and reputational risk, especially in the context of financial reporting and the protection of personal data (PDPA).

DATA AS AN ASSET