On Tuesday, July 21st, 2015 when I shared "Eight of the worst spreadsheet blunders" http://excelgist.blogspot.com/2015/07/eight-of-worst-spreadsheet-blunders.html, it was very unfortunate that i couldn't lay my hands on any "local' sample as all the examples shared were foreign but what happened last week is an indication that "data error" has no boundary!
When an error occurs, it may take a whole lot of ones resources to clean out the mess, depending on the magnitude though but you will agree that a cleanser worth N500M ($2.38M equivalent ) in law suit must have been a very BIG and MASSIVE error!
Offcourse, the list must have been prepared by someone, and probably reviewed by another senior personnel but one thing people miss out on data is that Data is information and can either make or mar depending on how it's been processed. It could have been a case of errant cut-and-paste, it could have been this, it could have been that but my worry is that how did a name that is not meant to be on a Director's list appear on a Director's list? A Director of a company is not just an employee but someone who can be held liable for the operations or shortcomings of the company as in the case of "Thriller Endeavours" and "Diamond Bank". This is a big data error and I wonder how many of this we have on banks databases. More shocking revelations may be revealed if we conduct a litmus test across board.
When University of Toledo lost $2.4M in Projected Revenue caused by "an internal budgeting error", President Daniel Johnson said "No job action would be taken against the employee who made the mistake, who has good performance record", I only wish same would be said and no job action would be taken against the employee or employees involved in this error.
Good a thing they have apologized, else N500M would have eaten down their profits for the year. You can read more here for full details
http://dailypost.ng/2015/08/07/diamond-bank-apologizes-to-abike-dabiri-for-erroneously-identifying-her-as-debtor/
http://leadership.ng/news/452279/debtors-list-abike-dabiri-slams-n500m-suit-on-diamond-bank
How excel-lent are you with Data? Judge yourself today before it is too late
Oladapo Sorinola
BB pin 52E9802D
07014282477, 07062932708
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