There’s no excuse for poor data management anymore.
Companies should have no room for negative customer experiences, increased costs, and bungled regulatory compliance—all caused by mismanaged data.
Craig S. Mullins at Database Trends and Applications illustrates data quality issues in what he calls the “bullwhip problem.”
“A retailer in your supply chain reports demand that is wrong by 10 percent,” he says. “This means that instead of 10 units, the retailer reports 11 units. Now, if there are 50 shops being served by the distribution center, then the impact is an extra 50. And if there are 50 distribution centers, then the wrong data will trigger 2,500 extra units.”
His example shows that what seems like a small error has a ripple effect on every other piece of the supply chain.
What Causes Poor Data Management?
When data is stuck in silos, businesses lack the visibility they need into their organization.
“Access to quality data” is a roadblock data analysts encounter since much of their time is spent merely collecting and organizing data.
Organizations can crumple silos—and improve data management—by creating a digital duplicate.
A digital duplicate makes big data more manageable.
We do this at TADA by collecting each source of data within your organization and connecting it to our tool. TADA then processes each piece and returns the data in a consistent, uniform manner, allowing executives to make decisions that move the company in the right direction.
What Are Companies Doing With Managed Data?
Many types of companies realize the benefits of properly managed big data.
ReachForce highlights several use cases:
- Targeted advertisements optimized for whether an offer is effective, whether the consumer saw it at the right time, and which channels perform best.
- Determining the success of a potential location for a new franchise.
- Reducing customer turnover rate.
- Enhancing revenue.
How Has TADA Helped Customers?
TADA has helped our client base achieve a number of wins.
First, a global manufacturer used TADA to increase visibility of its footprint. As a result, this organization reduced its product strategy development from three months to five days for 30 product groups.
In another example, a healthcare provider conducted a multidimensional market analysis. That analysis yielded the best opportunities for up to 30 percent revenue growth.
Finally, the CIO of a Fortune 50 firm struggled with costs associated with poor data quality. With TADA, they assessed 4,500 IT applications to improve quality to their various business units.
TADA’s data management capabilities are 10 times faster than that of our competitors. Please consider your organization’s current data management practices and whether TADA would be a good way to improve them.