Bad Data: A 21st Century Business Epidemic
Between 2007 and 2009, 8.8 million jobs and $19.2 trillion in household wealth were lost. The causes of the Great Recession of 2008 are numerous and in continuous debate. As we begin to list probable causes—incorrect balance sheets, factitious mortgage loan applications, incomplete data relating to systemic risk—they all boil down to one simplified term: bad data—data that is either incorrect or incomplete.