There are many risks associated with the increasing amount of data available today. These risks can have a negative impact and can cost organizations millions of dollars in lost opportunities and added costs.
These risks can be organized into the following categories:
- basing decisions on data that is incomplete, incorrect, or not trusted
- basing decisions on incorrectly built and interpreted visualizations and analytics
- making biased decisions
- making ineffective decisions based solely on data
- making ineffective decisions due to the organizational culture
- incorrectly communicating decisions
- basing decisions on data that may be unethical or illegal
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