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Quality data is vital: Protect your organization’s investment in digital transformation

It’s possible to be data-rich, but information-poor. Organizations that don’t take care to ensure the data they use for decision-making is trustworthy face critical obstacles in their digital transformation journey.

“Data quality is potentially the single most important factor to success,” says Jeff McMillan, chief data and analytics officer at Morgan Stanley. “I say that because if you don’t have accurate data, nothing else works. A lack of quality data is probably the single biggest reason that organizations fail in their data efforts.”

There are a number of risks associated with using sub-par datasets to run algorithms and machine-learning tools. Of course, the most important one is financial risk.

Download this article to learn how CPAs can ensure their organizations’ datasets meet quality requirements and get tips on how to establish data-quality systems and controls.