cost of data entry errors
The Cost of Bad Data is the Illusion of Knowledge. Each time I open Salesforce in my browser, I think of Stephen Hawking. Itâs because of an aphorism an entrepreneur shared with me a few weeks ago. The cost to fix a data error at the time of entry is $1. The cost to fix it an hour after itâs been entered is $10. And the cost to fix it several months later is $100+. Take for example a venture capitalistâs CRM tool.
Figure 6 reports the per capita cost of data breach for three root causes of the breach incident on a consolidated basis. These results show data breaches due to malicious or criminal attacks cost companies increased from and average of $157 in last yearâs study to $159.igure 3 presents the total average cost of data breach for ten country studies in this yearâs study. As can be seen, the U.S. sample experienced the highest total average cost at more than $5.85 million, followed by Germany at $4.74million.