This article has been prompted by my recent experience of purchasing a black phone cover from a large on-line retailer. On receiving the red colour, I reordered a second time and again received a red colour! Needless to say, that I ordered a different product and was successful the third time. A costly mistake for the organisation with the incorrect data held.
Good SCM is to carry out a regular audit of all data elements (including those for GDPR) to ensure good quality data is held within an organisation. This will help in compliance as well as help improve revenues, profits, optimise costs and service.
The other aspect an audit should verify is the timeliness of the data-is it accurate and current? How often do we see incorrect telephone numbers, mis-spelt names, wrong colours to name a few?
Management of accurate data helps organizations become more effective in quicker decision making as well as harnessing the maximum potential of technology.
Technologies like Artificial intelligence (AI) or machine learning, the Internet of things connecting devices to send and receive data, distributed data servers in blockchains or indeed the big data mining of large volumes byanalysts have one essential pre-requisite amongst others, of good quality up to date accurate data.
Please contact us if your organisation needs a robust data audit