Data is one of the biggest parts of digital transformation, but many companies do not reach the correct priorities to update their enterprise plans. As a matter of fact, Harvard Business Review estimated that only 3 percent of organizations possess data that meets the basic quality standards and can be operated by new technologies they are putting into action.
The quality of data is measured in many ways, but the main aspect is if the data correctly represents the real-world and if it fits the intended purpose of use. During digital transformation most difficulties come in the data. It is important to have true quality data while using technological solutions to help companies plan new strategies and see a clear overview on how to enhance and expand their brand digitally.
For example, systems and software that use machine learning accomplish goals such as product development by using high quality data from the past. The data provides a deeper understanding of how the procedure usually goes and which steps to take for the correct outcome. As seen in the infographic below, KoMarketing projected from companies that invested in data quality 100 percent of them saw overall growth and 94 percent saw improvements from sales and marketing within their company.
By making data quality a top priority in your digital transformation journey it can unlock new opportunities, new business strategies, and improved customer service while using AI to discover new insights. While having many financial advantages for companies, good data quality also creates better data security and greater confidence in analytical systems.
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