The high cost of low quality data
As a result of siloed business and legacy systems, many organisations experience low quality data, a lack of integration and an inability to share or trust the information derived from their systems. This seriously impacts decision-making, impedes business improvement, and hampers business growth, as this infographic makes clear.
(Click the image for a downloadable PDF)
At COSOL, we are experts in the enterprise asset information ecosystem, uniting systems, data, people and processes to unlock asset potential. Our experience is that:
- Digital transformation is well underway, and every board is, and should be worried about how to become a truly digital enterprise.
- Strong enterprise data foundations will be required to adopt digital solutions including advanced analytics, robotic process automation, machine learning and artificial intelligence which are the next frontiers to productivity and market competitiveness.
- Enterprise data is the glue, the fact base, that drives decision making and business improvement, allowing organisations to meet stakeholder expectations in a timely and efficient manner; and
- For organisations to succeed, data must be treated as a mission critical asset. It is the single biggest success factor in a digital transformation journey, and most organisations are ill prepared due to many islands of disconnected data that is of unknown and/or poor quality.
How will you address these challenges in your business?
If data quality and data management are issues for your business, we recommend undertaking a COSOL Data Quality Assessment. This is an independent assessment of your data. It’s like a report card that tells you what needs attention and what you should do about it. Importantly, it contains everything you need for your business case to move forward.
To learn more, check out the COSOL Data Quality Assessment.