Case study: data quality review
QMV were engaged to provide an independent and comprehensive data quality review for a leading wealth management business.
QMV assessed the current state of data quality against regulatory obligations and industry best practice, producing a data quality score (DQS) for 17 key attributes and ranking the organisation on the data quality maturity curve.
The findings were used to develop a hybrid plan comprised of both quick wins and strategic recommendations, enabling a balance between the immediate results that management were seeking with a longer-term view focused on treating the symptom rather than addressing the cause.
QMV was able to quantify how a shift from a reactive and corrective approach to an approach more focused on prevention and detection would deliver a significant and measurable return on investment.
The review also provided a roadmap to determine the optimum sequence for the recommendations to be implemented, delivering immediate benefit with quick wins able to commence immediately.