How Bad Data Jangled the Price of Pecans in 2012

Bad data can cripple business.

According to this Wall Street Journal article from 2012, “The Census Bureau had overstated the volume of pecans going to Hong Kong, the U.K., Mexico and other countries between August 2010 and September 2011.” The published data led analysts to conclude that prices would rise as pecans were in increasingly short supply.

In reality, there was no corresponding shortage in pecans.

Imagine the price of this type of error.

One Texas company quoted in the article doesn’t have to imagine it. They estimated the cost of this mistake at $165,000.

At Information Frontiers, our approach to Analytics Master Data Management allows you to trust the data that drives your business decisions.

Contact us today to begin the conversation.

 

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