Corporate Data Quality
In globalised companies there is a high demand for individualised services at different locations worldwide although these companies would prefer to offer standardised services as far as possible. In order to be successful in this area means to have a consistent basis of data.
Everybody in this networked environment of partners needs to have a common understanding of transferrable data, its formats and meanings and has a considerable interest to have these in high data quality.
Higher Data Quality requires a new understanding - an understanding that data is a capital good, as important as machines, people and all other capital goods that a company has and utilises.
Some of the mistakes that are being made when mismanaging Data Quality are e.g. Call Centers where employees, without bad intention but due to lack of awareness fill mandatory fields with
nonsensical information due to time pressure or simple misinformation. This could be e.g. wrong addresses, birth dates etc.
The agents are expected to input information in the shortest possible time, endeavouring to fulfill their KPI's. This has the unfortunate consequence for the company that it messes up the database, as double entries are created - therefore the usable correct entry can no longer be tracked.
Essentially high data quality is the backbone for developing successful new business models.
In order to serve customers in a holistic way, an insurance company for example wants to offer new services tailored to its clients. Therefore it needs to have all the different data and contract information associated with these customers available and accessible. These pieces of information are often stored in different technical information silos. It is paramount to have access to all relevant information when sales are being negotiated with these customers.
All existing contracts with that customer should be accessible, transparent and up to date. To be in the best position for negotiations, it is essential to have access to information with High Corporate Data Quality.
How do you get the support from CFOs and CEOs for campaigns to increase Corporate Data Quality ? First of all awareness of the question itself and its importance is essential.
There has to be an understanding on the highest management level of how important this issue is - particularly for successful business processes and their ROI.
Quite often an assessment can help to show how quality can be improved immediately, which values are still undiscovered or dormant in corporate data and could be productively utilized through successful data mining methodologies.
In globalised companies there is a high demand for individualised services at different locations worldwide although these companies would prefer to offer standardised services as far as possible. In order to be successful in this area means to have a consistent basis of data.
Everybody in this networked environment of partners needs to have a common understanding of transferrable data, its formats and meanings and has a considerable interest to have these in high data quality.
Higher Data Quality requires a new understanding - an understanding that data is a capital good, as important as machines, people and all other capital goods that a company has and utilises.
Some of the mistakes that are being made when mismanaging Data Quality are e.g. Call Centers where employees, without bad intention but due to lack of awareness fill mandatory fields with
nonsensical information due to time pressure or simple misinformation. This could be e.g. wrong addresses, birth dates etc.
The agents are expected to input information in the shortest possible time, endeavouring to fulfill their KPI's. This has the unfortunate consequence for the company that it messes up the database, as double entries are created - therefore the usable correct entry can no longer be tracked.
Essentially high data quality is the backbone for developing successful new business models.
In order to serve customers in a holistic way, an insurance company for example wants to offer new services tailored to its clients. Therefore it needs to have all the different data and contract information associated with these customers available and accessible. These pieces of information are often stored in different technical information silos. It is paramount to have access to all relevant information when sales are being negotiated with these customers.
All existing contracts with that customer should be accessible, transparent and up to date. To be in the best position for negotiations, it is essential to have access to information with High Corporate Data Quality.
How do you get the support from CFOs and CEOs for campaigns to increase Corporate Data Quality ? First of all awareness of the question itself and its importance is essential.
There has to be an understanding on the highest management level of how important this issue is - particularly for successful business processes and their ROI.
Quite often an assessment can help to show how quality can be improved immediately, which values are still undiscovered or dormant in corporate data and could be productively utilized through successful data mining methodologies.
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