Transforming an organization to a truly digital powerhouse takes planning and teamwork, and there are plenty of things that can go wrong along the way. But because data is the underpinning of any digital transformation, neglecting proper data management can send a project into a tailspin from which you might not recover. Check these five issues and formalize your strategies as you pursue your DT efforts.
The first step is to assure you are able to use your company’s data by making sure the data itself is viable. That means managing it from acquisition to consumption. If data management isn’t already part of your IT operations it’s the best place to start. Comprehensive data management means understanding and controlling data as it moves through your systems even when it’s in relatively static storage. Master data management systems can bring clarity to the processes and help to find and resolve problems.
Duplication of records can cause confusion when more than one record refer to the same entity. Customer records that have the same name with different addresses are prime examples that can create erroneous billing or promotional expenses, not to mention occupying additional storage space.
Lack of governance can stymie attempts to use an enterprise’s data when multiple systems are implemented with no thought for the underlying data and its eventual use.
Data silos are another example of data that exists in separate storage facilities or in formats that have not been designed to connect with other data the company may have.
There are plenty of ways to derail a promising digital transformation but good planning and knowing in advance what might get in the way as well as how to assure your data is ready to be leveraged is key to staying on track and delivering.
of executives say that having a strong master data management program is important to ensuring their future success.
of executives believe their organizations are underinvesting in their enterprise-wide data strategy.
of executives say their organizations rely on more than 6 data types that are essential to business operations.
of respondents who have employed MDM say their organizations' approach to MDM is moderately or very effective.
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