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The importance of data and data quality has long been a second thought for many utilities. There is often the perception that, “as long as the bills get paid our data is good enough!” As both customers and regulators owners alike are becoming more demanding in customer service and the impacts of the Smart Grid are being clarified, it has become an imperative for utilities to better manage their data. In the Smart Grid era, Asset Management at the distribution level is no longer a lofty goal but rather a necessity. Unfortunately from the perspective of technical resources, data is never good enough. Managers are faced with the challenge of balancing adequate data quality against the cost of maintaining that quality of data. This paper discusses the realities associated with data quality and a successful asset management program.