how to get the most from your data: capitalizing on your data through data sharing
TRANSCRIPT
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How to get the most from your data Capitalizing on your data through data sharing
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Many organizations are striving to be more data-driven, but data quality issues and silos continue
to prevent companies from making the most of their data. Data is only as valuable as the insights
an organization can gain and the action they take based on that information.
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96% of business stakeholders want more access to data.
2017 Global data benchmark report by Experian Data Quality
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With various parts of the organization only having access to certain pieces of
information, stakeholders are limited to working solely with the data at hand. By
increasing access and enabling data sharing, users from across your business can better
understand what information is available and how it can shape strategic decisions.
Siloed data
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Assess your data quality
Before opening up access or encouraging sharing across your organization, you’ll
want to assess the quality of your data. Theonly thing worse than one department making decisions on inaccurate data is
letting the bad data spread.
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By assessing your data quality prior to providing greater access or sharing data, you
can be confident that your data is accurate and complete, without gaps or inconsistencies.
Getting the most from your data
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98% of respondents make data requests
of IT.
71% wait a few days or longer for a
response.
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Challenges to data access
of U.S. organizations say their data strategy is reactive
• Departmental or organizational silos • Disparate systems storing data • Technical expertise to pull data • Reactive data management strategy • Keeping pace with data collection
When it comes to accessing information, there are several barriers that prevent stakeholders from getting the data they need:
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Removing silos
There are data management platforms that can help you overcome many of the barriers to sharing data across your organization. These tools help you:
Pull data from multiple sources Standardize information across systems Grant business users access to the information they need Enable self-service
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Sharing data means more than giving someone access to
information; it's about providing valuable insight—even to those
unfamiliar with the data.
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Achieving business goals
The only data that adds value is data that can be trusted and understood. To achieve
business goals, everyone must be on the same page and comprehend the data being shared.
Once you've organized your data to convey business critical information, it's all about
presentation. Displaying the data in dashboards and through effective
visualizations will enable understanding and prevent misinterpretation.
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Learn more
Are you interested in tapping into your data's untouched potential? Experian Data Quality's solutions can help you unlock
the power of your data.