As an infamous saying goes: size does not matter. Even though there are continuous debates about its accuracy, when it comes to data - without any doubt, quality prevails over quantity. It is no longer enough to possess enormous amounts of data about your operations and customers if it cannot be turned into actionable insights.
Keeping up the quality and cleanliness of data has posed a challenge for many corporations. The importance of this factor is often overlooked until the management has to face unpleasant consequences. As a result, it has become one of the main reasons why companies fail to execute their digital transformation plans.
Let us take a closer look at main triggers of poor data quality:
The bigger organisation - the more data silos it has. Every department has its own storage of data, which is vital for its internal operations. If in the past it was a normal practice, now having isolated data poses a substantial barrier to recognize new opportunities or streamline operations. Moreover, data silos often store the same information in different databases. As a result, it causes inconsistent output among departments. Not to mention, such data simply wastes resources!
As humans, we tend to make mistakes. Especially, in such routine activities as manual data entering. Human factors often result in poor data entries: typos, missed letters/numbers, upper- and lower-case issues and many more! Not to forget that as humans we have different perspectives towards data which causes lack of consistency and misconceptions across a dataset.
Lack of Data Standards
Having no or minimum standards for your data brings even more challenges for a 360-degree view of it. Every department has its own standards. It makes unified analytics impossible to execute. Even within each department if there is no clear set of rules and practices, the whole data collection can be just thrown away. Such data has no clear interconnection, which poses a huge barrier to gaining valuable insights.
It is a common scenario, when something goes wrong with data - everyone points at IT. However, looking closer into the core of the problem, IT has little power over it. Either it is marketing, sales or any other department, they are all responsible for initiating the data collection process through their own internal tools. Therefore, it is their own responsibility to make sure that data is entered correctly. It is easy to get it off your hands, but avoiding this responsibility will eventually result in lack of operational efficiency, poor customer retention and poor ROI.
Empower your data to do miracles for your business!
Many common data challenges can be avoided by simply choosing only one right solution. Pluxboxhelps to remove silos from your organisation forever and create an easy-to-access unified 360-view of all the internal data. It empowers not only IT professionals, but anyone in the organisation to take full control of data. Besides, Pluxboxallows to automate many manual routine tasks which reduces the risk of collecting bad data.
Do not wait too long and prepare your data before your next big endeavours!