An excerpt from Data Intelligence Gap
So, exactly what is it that the business needs to know that the data can’t provide? Here are some examples:
What the Business Wants to Know | Data needed | What’s inhibiting peak efficiency |
Can I lower my inventory costs and purchase prices? Can I get discounts on high volume items purchased? | Reliable inventory data. | Multiple ERP and |
Are my marketing programs effective? Am I giving customers and prospects every opportunity to love our company? | Customer attrition rates. Results of marketing programs. | Typos. Lack of standardization of name and address. Multiple |
Are any customers or prospects “bad guys”? Are we complying with all international laws? | Reliable customer data for comparison to “watch” lists. | Lack of standards. Ability to match names that may have slight variations against watch lists. Missing values. |
Am I driving the company in the right direction? | Reliable business metrics. Financial trends. | Extra effort and time needed to compile sales and finance data – time to cross-check results. |
Is the company we’re buying worth it? | Fast comprehension of the reliability of the information provided by the seller. | Ability to quickly check the accuracy of the data, especially the customer lists, inventory level accuracy, financial metrics, and the existence of “bad guys” in the data. |
Again, these are some of the many reasons where data lacks intelligence and can’t provide for the needs of the corporation.
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