Poor Data and its Effects on Business

Data is everywhere nowadays; no organization can actually function within bounds of high functioning work without its clean data. Data is today’s must. Have you ever thought how imperative it is to gain that kind of upper-hand for your company?

In the following article you’ll see how much the opposite has its detrimental impact on organizational maturity and progress.

The consequences of poor data on an enterprise are of dire measure and effect on its operations and tactical decision making. Poor data can be said to be one of the main threats to a common workflow of a modern organization’s cost management, where IBM has made an estimation of more than 3 trillion dollars in loss due to poor data availability in the U.S alone!

The following are some of the problems poor data can have on your organization:

·???????Lowers employees’ productivity and satisfaction

It must have crossed your mind the intricate equation for employees’ productive abilities and the satisfaction needed to sustain it at maximum capacity, what factors are at play exactly?

Employees’ productive force is tightly linked to the database being used for their daily to-do lists and ease of flow. Lacking the updated, precise data is of great loss that hinders a company’s growth where scattered bits of information is of harm to a proposed daily routine. Fragmented data calls for the cost of enormous services needed by data scientists just to clean up and render the existing bits into a “work through” entity which can reap huge benefits to strategic tasks and gets it into more coherence for a clearer framework.

In this scenario, we can speak of clients, who have all the right to be addressed properly with their services and orders being at top tier correspondence to their needs and expectations. That can obviously become a reputational hazard leading to more dissatisfaction both on the customer and employee ends of the bargain knowing that the root of such issues stems from a bad, ill arranged database.

It can be said that such a negative feedback loop facing employees plays a role in their low motivation to carry on with more disappointments, and a lack of clarity or motivation

·???????Affects company’s financials, badly:

The consequence of both human and financial capacity loss is evident when it comes to talking about bad data organization. The predictive power of a company relies on its data provisions. Losing that edge when analyzing a market entry can be of great cost to any financial forecast with inaccurate, poorly integrated data. For example, running a sales campaign with incomplete rundown of the minute details for its implementation would seriously damage its success and lead to undesirable results.

Failing to properly communicate with prospects will surely affect revenue. hence expectations are high when it’s about showing off a company’s new product to its potential customers but on the other end receiving a lack of a comprehensive presentation to what the product or service can actually offer and to exactly whose needs it caters to.

Poor possession of accuracy in business analytics data is costly and acts as part of a chain of dysregulated operations, low productivity and results in a damaged financial stability.

·???????Leads to poor insight for decision making:

When it comes to decision making, it is of crucial and rather substantial importance to have it based on precise and clear, well put databases. That being said, it becomes quite puzzling when a decision made by a manager for a certain operational strategy for their company bears no difference from a sales rep or a customer service employee.

Imagine a quibble amongst different department managers where everyone is claiming the most relevant and timely piece of data. It is awfully time consuming and a waste of resources making it of utmost high concern to gather a consensus, at least on the data driven side of decisions, bringing in the most accurate, complete and relevant.

·???????Results in stakeholders’ dissatisfaction:

Issues associated with data completeness, relevancy, accuracy and consistency are major pillars in the process of all stakeholders’ satisfaction. From employees of production to ones of packaging of a product or service, to investors and managers. the rule that binds them together in harmonious flow of things would be their shared knowledge of the business running with its strategies and future plans. The data put in their hands is what can keep a smooth flow of effective efforts to deliver on their shared mission.

In conclusion, it’s become quite clear how an underperforming and poor data accessibility is greatly impacting your business operations on so many different fronts. While a pristine, high quality set of data is a core requirement to generate business opportunities and keep the status quo in check with higher engagement from employees and customers alike. It is a pillar to build on for any strategy to ensure a successful outcome.