Risk Management Consulting, LLC

A survey conducted in February 2010 by the Economist Intelligence Unit (EIU) for SAS found that only 39 percent of respondents believe they are effectively collecting, storing and aggregating data; while four out of five companies surveyed are increasing investment in data quality and integrity. 

A summary of this survey is available here: EIU survey.

Since poor data and untested models are believed to have been significant contributors to the recent “Financial Meltdown”, it seems that banks and other financial institutions either “just don’t get it” when it comes to risk management, or are willfully ignoring the problem.

Data quality and availability is critical for risk management at all companies, but particularly for financial institutions.  For some additional observations, read my White Paper on the topic.