Estimates show dirty data is a big problem for the U.S. economy. How big? About 2x the national deficit.
Software expert Hollis Tibbets, the Global Director of Marketing at Dell, estimates that duplicate data and bad data combined cost the U.S. economy over $3 trillion every year – which is just about two times the national deficit.
In his post “$3 Trillion Problem: Three Best Practices for Today’s Dirty Data Pandemic,” Hollis points to a few key facts and figures to back up his estimate.
Healthcare is a breeding ground for duplicate data
The U.S. Attorney’s office recently revealed that they believe about 14% of healthcare spending is wasted due to dirty data – which includes duplicate and/or incomplete data. With 16% of the U.S. Gross Domestic Product attributed to healthcare spending – or $2.14 Trillion total spend – that would mean that duplicate and dirty data costs the healthcare industry over $300 billion every year.