What is data quality?
Data quality measures how well a dataset meets criteria for accuracy, completeness, validity, consistency, uniqueness, timeliness, and fitness for purpose, and it is critical to all data governance initiatives within an organization.

Why is it important?
Over the last decade, developments within hybrid cloud, artificial intelligence, the Internet of Things (IoT), and edge computing have led to the exponential growth of big data. As a result, the practice of master data management (MDM) has become more complex, requiring more data stewards and rigorous safeguards to ensure good data quality.

Businesses rely on data quality management to support their data analytics initiatives, such as business intelligence dashboards. Without this, there can be devastating consequences, even ethical ones, depending on the industry (e.g. healthcare). Data quality solutions exist to help companies maximize the use of their data, and they have driven key benefits, such as:

Better business decisions: High quality data allows organizations to identify key performance indicators (KPIs) to measure the performance of various programs, which allows teams to improve or grow them more effectively. Organizations prioritize data quality will undoubtedly have an advantage over their competitors.
Improved business processes: Good data also means that teams can identify where there are breakdowns in operational workflows. This is particularly true for the supply chain industry, which relies on real-time data to determine appropriate inventory and location of it after shipment.
Increased customer satisfaction: High data quality provides organizations, particularly marketing and sales teams, with incredible insight into their target buyers. They are able to integrate different data across the sales and marketing funnel, which enable them to sell their products more effectively. For example, the combination of demographic data and web behavior can inform how organizations create their messaging, invest their marketing budget, or staff their sales teams to service existing or potential clients.

What is data quality? | IBM

https://www.ibm.com/topics/data-quality#:~:text=Data%20quality%20measures%20how%20well,governance%20initiatives%20within%20an%20organization.

Data quality measures how well a dataset meets criteria for accuracy, completeness, validity, consistency, uniqueness, timeliness, and fitness for purpose, and it is critical to all data governance initiatives within an organization.