This is an ever-present point of discussion in many companies, regardless of department or duties. The quality of your data can be evaluated based on many variables. In the last post, we discussed what affects how up-to-date and accessible your data is.
Based on these, we will recommend a selection of activities, both manual and system-driven, that can help you evaluate and improve your data quality.
In our final post, we will go through the last two variables, the first of which is how comparable your data is. Can you visualize your data and compare it against historical data, article registers or current budget/forecast figures? Via validation against reference data, you can find new dimensions in your analysis of data and follow up on how your business develops over time.
Our final way of evaluating its data quality is to answer the question of whether the data is valid. This approach refers to whether the data, via for example a report or dashboard, shows the answer to the question you asked. Do we have the information we need, does the data help us make the right decisions and does it show a fair picture of our business?
Try to think about what is important in your business and select a couple of key figures to follow up, these should describe your performance and contribute to developing your company. Simplification by focusing on a few defined points makes information more comparable and relevant.
By using and comparing data from several different sources through a service that is updated in real time, your company can combine and standardize data to be able to produce up-to-date information that was missing before. Visualize it via reporting tools and Dashboards to clarify the information.
Having the information available in the cloud as a service (Solution as a Service) provides many advantages. The downtime for the service is today usually minimal and the security is equivalent to having an "on premise" solution. The data is available when it is needed, and you do not need an internal organization or premises for servers.
Why should you compare the outcome against the budget and forecast? The budget helps you see on an overall level where the company is going, while the forecast helps you adjust the business in the short term. When the outcome matches the comparison data, you have a good picture of how the business is developing and you can make better decisions based on the information you have.
Do you think your data is relevant and comparable? Does the data help you make the right decisions and does it show a fair picture of the business?
Are you curious to learn how Business Cloud iPaaS can help your company with integrations and data quality? Contact me below or book a demo and I'll tell you more.
Staffan Hedbrandh, CEO
Lundatech : Dec 16, 2022 2:45:45 PM
We at Lundatech have built our products and services around having a simple and efficient solution to consolidate, standardize and wash data, to...
Lundatech : Feb 21, 2023 10:40:02 AM
Lundatech : Dec 19, 2022 9:34:43 AM
How do we ensure our data quality? This is an ever-present point of discussion in many companies, regardless of department or duties. The quality of...
