Bad data is bad business. According to a survey by Gartner, the average financial impact of bad data on organisations in 2017 was estimated to be around $15M (approx €12.4M) per year. Bad data is an inaccurate set of information, including missing data, wrong information, inappropriate data, non-conforming data, duplicate data and poor entries (misspells, typos, variations in spellings, format etc).
The financial impact of bad data is so significant because people across any business are all exposed to data, and use it as part of their roles every day. If data is incomplete or damaged, the time taken to correct the data is both time-consuming and costly. This is where Belgium-based Soda.io wants to help out.