The Trap of Inconsistent Data for Business Leaders
Importance of Data to Business LeadersBusiness leaders need data from their sales and operations teams to present business strength and competitive edge against competitors. The type of business define how leaders address and position the current products line to make more sales and acquire new clients.
Business leaders tend to depend on data reported from working teams; they usually use the data without questioning integrity and freshness during business meetings and networking with current clients and prospect clients.
It is no brainer for the majority of successful business leaders and strong sales specialists to achieve high number of sales and client acquisition beside their ability to meet planned targets; they enjoy reporting achievements to top management and board members.
Failure of Data ManagementWhile businesses invest time and money introducing new products and products variations, growing customer base, and delivering more services, the complexity of delivery and support grow. As the complexity grow between products, customers, and operational teams, they (businesses) dive into chaos of scattered information:
- Missing the need to organize proper data repositories
- Ignore collecting data for specific important operational steps
- Continue to use outdated information
- Ignore compliance on evolved regulations
- Neglecting the importance of data security
- And more …
However, the failure build up slowly and incidents happen suddenly, at unexpected time, with unexpected customers, sometimes one invoice could blow out an iceberg of inconsistence and conflicted data scattered around the organization. Once such iceberg tip discovered, management team start to uncover the amount of loses they were making in result of underlying teams ignorance of data cleanness, outdated information about clients, products without profiling, process flow deficiencies, and so on.
Business Information and Data Classification
- Business process information
- Transactions information
- Data about Data (Metadata)
- Information Hierarchical Trees
- Core information
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Author: Jawad Alalawi
Information Security Specialist specialized in Financial Payment Services, Risk Management, Information Security, and Compliance. Experienced in solutions development and implementation, and technical writer/copywriter. Email (sjawada5 at gmail.com)