True Cost of Non-Cleansed Data Is Incalculable

APFIS 2007

SINGAPORE-It is impossible to calculate the true cost of non-cleansed reference data, meaning that firms often fail to measure the financial losses caused by bad data, according to panellists at the Asia Pacific Financial Information Summit.

"The true cost of bad data is actually incalculable," said David Miller, Edinburgh-based director of credit systems, Bank of Scotland, adding that nobody knows the exact cost of non-cleansed data. "I do not think any firm can argue they truly know the cost, b

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