Don’t believe everything you read, is a very common advice, however people intend to forget it. Last week (10-Sept-2008), I read a story in Reuters and Forbes about the drop in the United Airlines parent company UAL (nasdaq: UAUA) share prices; an old story, originally published by the Chicago Tribune in December 2002, on the bankruptcy filing of UAL Corp, found its way to the Bloomberg financial news service, giving the impression that the story was current.
The result were hurtful the UAL share fell 76 percent. Although once the error was found the share recovered a large part of its original price, the damage was cut and clear. BTW, for those interested in UAL situation according to Forbes (08-Sept-2009), “It filed for Chapter 11 bankruptcy protection in December 2002 and emerged from it in 2006. Despite its struggles, the company has given no indication it plans another bankruptcy filing”I couldn’t avoid thinking about the difference between relying on primary data sources, vs. using data already processed. It reminds me of an ongoing debate over retrieving data in Revenue Assurance. There are two main approaches:
The first which I strongly support is that whenever possible, RA systems should get raw data from the primary data generating systems (switches, SS7 probes, billing systems, etc.).
The second approach advocates that in order to reduce costs, RA should try to get, whenever possible, data that was already put in some kind of data repository or Data Warehouse even if it is somehow processed data.Using primary data has it costs, but not using it might have unforeseen higher costs.
