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The current macroeconomic malaise means organizations in almost every sector are finding it tough. IT budgets are under scrutiny and many new projects have been put on hold or cancelled. An economic downturn forces many businesses to focus inwards on reducing costs and improving efficiencies to prop up its revenues and profit margins. Although companies are relying even more on IT systems to run their businesses in a leaner and meaner fashion, new IT investments are invariably impacted as well. CIOs are left scratching their heads on how to sustain and fund important information management projects such as master data management (MDM) and data quality.
This paper from Ovum, a leading research firm in technology, telecommunications and other business sectors, argues against cutting into these projects too deeply. An economic downturn highlights the importance of accurate and up-to-date information to optimally drive business applications and decision-making. Hence, a rigorous data quality program is now a business imperative rather than a luxury. Implemented correctly, it not only gives organizations the agility to better ride out the current recession but also raises their competitiveness when the economy recovers.
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