Your data nutrition plan for 2022

Before businesses can embark on their data fitness journey, they need to know how to fuel their fitness with the right nutrition. In other words, they need a data nutrition plan.

The key to being a healthy, functioning human being is having a nutritious diet. Everyone knows that (even if we may not have always acted like it).

Your business is the same: if you don’t have a healthy data nutrition plan with objectives and goals to attain, then not only are you more susceptible to poor data quality, but you won’t be able to get the right value from your data management solutions.

Before you can start implementing data solutions, you need to think about the kind of data you are going to feed into it – is it customer survey data? Product information? Or is it data about internal employees or company processes? And most importantly, is it good data: reliable, accurate and up to date?

Good quality data, combined with the right data management systems, will get your business fighting fit by allowing you to:

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  • Drive actionable insights
  • Increase profits
  • Boost decision-making
  • Increase efficiency across your operation.

After all…

You are what you eat

If your business doesn’t have a solid data quality and governance strategy – aka a data meal plan – then you will end up with poor quality data that could actively damage the business. As we’ve said before: if you put junk in, you’re going to get junk out. Just as you can’t sustain a fitness regime without a balanced diet, you can’t support a data strategy with bad data.

Take banks for example, which often suffer from inefficiencies due to fragmented or inaccurate data in legacy systems. This can lead to all kinds of problems, from banks having one customer under four different aliases across its various sectors (insurance, business accounts, ISA), to irrelevant campaigns and offers being pitched at the wrong audience, all thanks to bad data.

Businesses that handle vast amounts of sensitive data, in particular, need to prevent it from being siloed or poorly communicated across different aspects of the business. Yet every business can suffer the consequences of bad data – and feel the benefits of good data nutrition.

The question every organisation needs to ask are: do they have the correct data? And if not, how can they get it?

Data superfoods vs data junk

So, what data do you need to have in your meal plan?

Good data: the data food to include

  • Accurate
  • Complete
  • Consistent
  • Relevant
  • Timely

Bad data: the data junk you need to avoid

  • Inaccurate: data that is misleading or incorrect, such last season’s pricing or incorrect allergy information
  • Incomplete: data that is missing vital information, fields and tags
  • Inconsistent: data that doesn’t match relevant data stored elsewhere
  • Irrelevant: data that isn’t necessary for your commercial needs.
  • Out of date: old data that still in the system, such as old product lines or former customers.

Bad data can lead to poor decision making, reputational issues (such as negative media exposure and GDPR issues, with data quality being a requirement of GDPR) and missed opportunities. According to the DAMA Data Management Body of Knowledge, organisations spend between 10%-30% of their revenue on handling data quality issues.

What to include in your data diet

The best data nutrition plan will identify:

  • What ‘good data’ looks like for you. This is the data that your businesses need to succeed.
  • The strengths/weaknesses of your current data system, and how that is impacting your business.
  • The way people and data interact within your business: does everyone know what good data is, what bad data habits they need to cut out, and why it matters?
  • The opportunities you will have as a result of a stronger data management system: actionable insights, better supply chain management, clearer product or service information, and maximised revenues.
  • The decision-making capabilities you will achieve as a result.
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Let Amplifi be your data dietician

We are the Joe Wicks of data governance, data-driven strategies and MDM solutions.

We work with our clients to understand their business vision and objectives, allowing us to create a data nutrition plan that complements their goals, spanning the following areas:

  • Data Strategy Development
  • Data Quality Audit
  • Data Management Software Assessment and Selection
  • Data Governance Assessment
  • Data Governance Operation Design

Only once you have a strong data strategy in place, with the right data to fuel it, will you have the right foundations to start getting your data in shape.

To find out how Amplifi can put you on the fast-track to data fitness, download our guide to building your data fitness below, give us a call on +44 1926 911820 or get in touch today.

Ready to start your 'Couch to Data Fit' program?

New year, new you. Introducing Amplifi’s Data Quality Bootcamp, our guide to a four-week appraisal to define your data fitness and take the first steps to improve your data quality for good.

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