Reducing the cost of error: how to develop data accuracy skills

Presented by:
Catherine de Salvo - Scott Bradbury Ltd

Event Overview:
Mistakes in your organisation waste time, cost money and annoy customers. The time it takes to make, find and correct errors typically costs 18–20% of your salary bill – and that’s before you even consider the cost of the errors themselves. One reinsurance company paid out £70 million instead of £7 million because the decimal point was in the wrong place. The money was eventually returned but because the money had been paid out in Brazilian Reals there was a significant loss due to currency exchange rate fluctuations – not to mention loss of face!
But it’s not these huge mistakes which waste the most money; it’s the everyday ‘small’ errors, which mount up and become a huge drain on resources. By learning how to reduce errors, you save money, boost productivity and increase efficiency too.
In this event you’ll learn why mistakes happen and how to develop practical, effective accuracy skills to enable you to read, check and transfer information correctly. You’ll find out why our reading skills work against us when it comes to working with data and you’ll experience working at the optimum speed for accuracy – which will probably be faster than you think! You’ll even complete a fun ‘insurance data’ test too, to help you measure your own accuracy rate!
Learning objectives
At the end of this event, the delegate will be able to identify:
• why all human beings make mistakes
• how to demonstrate practical techniques for reading, checking and transferring data accurately
• how to calculate the ‘back-of-envelope’ cost of data error in your organisation
• how to describe and apply the ‘three Cs’ of accuracy
• how to ditch your ‘reading’ skills in favour of ‘accuracy’ skills when you work with data.