Data as a Strategic Asset: The Future of Data Quality, Governance, and Trust
Why Data Quality Matters More Than Ever
Hi everyone! Del Irani here.
In a recent episode of Experian Exchange, I had a fascinating conversation with Andrew Abraham, Global Managing Director of Data Quality at Experian. We explored a critical question:
Are businesses treating data as the strategic asset it needs to be?
Well, the answer is both yes and no. Most organizations understand how powerful data can be, but when it comes to actually using it effectively, many fall short. The gap between understanding and action is where big problems arise.
This isn’t just a small oversight, it’s becoming a serious business risk, especially in our AI-driven world. Let me share some key takeaways from that conversation and why they matter for your organization.
The Data Quality Crisis
Talking to Andrew made one thing crystal clear:
We’re in the middle of a data quality crisis.
Despite having more data than ever before, many businesses are still dealing with basic issues like:
1. Data Accuracy and Completeness
Bad data shows up in all kinds of ways wrong information, missing fields, outdated records, and inconsistent formats.
When the foundation is shaky, every decision you make on top of it becomes risky.
And this isn’t just an IT issue, it’s a business issue with very real financial impacts.
2. The Trust Deficit
Even more worrying is what Andrew called the “trust deficit.”
When leaders don’t trust the data, they fall back on gut instinct. That basically throws your data investments out the window.
To build trust, you need systems and strategies that support high-quality, reliable data.
3. The AI Amplification Effect
Here’s a big one:
AI doesn’t fix bad data, it amplifies it.
That’s right. If your data is flawed, AI will just make flawed decisions faster and at scale. That’s a recipe for disaster, not efficiency.
Building a Foundation for Data-Driven Success
Andrew and I discussed some of the smart moves that forward-thinking companies are making. Here’s what they’re doing:
Start with the Basics
Before jumping into AI or advanced analytics, nail the fundamentals. That means:
1. Assigning clear ownership of your data
2. Setting consistent data quality standards
3. Having processes to clean and maintain your data
4. Creating a solid data governance framework
Make Data Accessible But Secure
Andrew pointed out a key trend: data democratization.
The idea is to give more people in the business access to data, not just IT or data science teams.
But here’s the catch: it has to be done within a strong governance structure to ensure security and compliance.
Use AI to Fix Data Issues
Here’s the cool part: AI can also help improve data quality.
Tools like generative AI are being used to clean up data, standardize formats, detect anomalies, and even suggest better data structures.
My Takeaway for Business Leaders
If you remember just one thing from this conversation, let it be this:
Treating data as a strategic asset isn’t optional anymore.
It’s essential for survival and growth.
The companies that will succeed in the years ahead are the ones that see data quality and governance not as “technical stuff” for IT, but as business-critical priorities.
As Andrew put it:
“Data is either your greatest asset or your biggest liability.”
Which one it becomes depends entirely on how you manage it.
Let’s Keep the Conversation Going
I’d love to hear how your organization is tackling data quality and governance.
Connect with me on social media @deliranitv and share your thoughts!
FAQs: Your Top Questions on Data Quality and Governance
Watch for these red flags:
1. Teams are arguing over whose numbers are right
2. Lots of manual cleanup before analysis
3. Low confidence in reports
4. People ignore the data even when it’s available
From what I’ve seen, most organizations have data quality issues. The real question is: how aware of them are you?
Think of it like this:
1. Governance is the framework—the rules, roles, and responsibilities.
2. Quality is the result you get when those rules are followed.
As Andrew said, governance sets the conditions for good data, but you need both to work hand in hand.
Start small and stay focused. You don’t need a huge system right away.
Begin with your most important data, usually customer, product, or financial info. Set clear quality standards and assign ownership. Focus on the data that directly affects customer experience or finances, then grow from there.
A big one.
Executives shouldn’t just sign off on budgets; they need to lead by example. Champion data-driven decisions, help resolve conflicts over who owns what data, and most importantly, use high-quality data in your decision-making.
When leaders show they value good data, everyone else follows.
AI is only as good as the data it’s trained on.
If that data is poor, AI models will be biased, inaccurate, and unreliable. That can lead to serious issues, ethical, operational, and even legal.
Before diving into AI, invest in getting your data right.
It’s huge.
There are direct costs, like bad decisions, regulatory fines, and inefficiencies.
And then there are indirect costs like missed opportunities, lost customers, and eroded trust in analytics.
Andrew cited research showing that poor data quality can cost organizations 15–25% of their revenue. That’s a massive number, and it makes the case for investment crystal clear.
Delirani
Del Irani is an award-winning journalist, TV presenter, and dynamic event host known for her engaging presence and exceptional storytelling skills. With a career spanning over two decades, Del has hosted and moderated high-profile events for international media outlets, corporate clients, and global organizations, including the UN. As a former ABC News anchor and BBC World News correspondent, she brings a wealth of experience in delivering compelling narratives, facilitating insightful discussions, and connecting with diverse audiences. Del’s ability to navigate complex topics with clarity and poise makes her the ideal choice for events ranging from corporate conferences and industry panels to gala dinners and award ceremonies.
