Is your Data, Cargo or Crew?

Is your data weighing you down like “Cargo” or is it working for you like “Crew”? In other words, is it a liability or an asset?

The wind blows the same for us all, it’s how you set your sail that makes the difference. Instinctively business people know that clean data supports their businesses, as a clean and steady wind supports sailors on their journeys. When you can trust your data, you can safely set your business sail; that is, set your business strategy which opens up - blue ocean - space between you and your competition.

Inaccurate, low-quality data results in your data cargo getting heavier and heavier. As it decays, becoming less: complete, consistent and current. The Crew silently bails the business out for to the errors caused until the burden of the data cargo become too much, when sometimes, the crew mutiny. Then, not only do you have deteriorating data cargo, but you also now have diminishing numbers of valuable crew members.

Bad or delayed business decisions caused by incorrect data and false information, can leave businesses dead in the water. Non-compliant data can get them in trouble with the authorities and the penalties are now so heavy they can sink.

The Wise business switch their data from being a Sinking (Cargo) to a Swimming (Crew)

According to the survey report, the three quarters or so of UK companies that have been wise enough to spend on data cleansing software in the last two years are on top of the waves, despite the depressed economy. Around 90% of them report higher profits, with the average increase nearly ￡800K. And the global average return on such investment is 300%.

Clearly, it’s not just the waste that has been avoided. These organisations’ clean data has also helped them generate the extra business that resulted in their increased profits.

Giving your Crew the tools they need to succeed

To ensure your business stays ahead of your competition and you retain your valuable crew, you will need to provide them with data cleansing solutions which ensure data stays fit for use. Armed with the right data at the right time, businesses make the right decisions, allowing them to set their sails with the wind on their backs, head off into calm waters and leave their competitors behind.