You decided that you want to improve the business capabilities through data and have set this as your main goal. How do you proceed from here? Well, data collection will be your first milestone to achieve.
Uncollected data has very little value if left alone. It is only when it gets handled to serve a specific goal that its value grows, offering strong insights to those that want to improve and/or optimise their performance.
There will be several issues that you will encounter when collecting data:
- Extremely large volumes of data is needed
- The variety of data to be collected is very high
- Researching and collecting from different sources of data can take an incredible amount of time
- Legal requirements and constant changes in data policies can pose a threat for the organisations' practices
- Data comes in various formats making it difficult to collect and harmonise before use
In optimising customer experience, for instance, Gartner reveals how “efforts can be potentially counterproductive if the organisation focuses so much on obtaining “all the data” about its customers that it loses sight of the purpose”.
Therefore, before collecting data, make sure that clear objectives are set. This will grant the achievement of your goal effectively and efficiently. Also, don’t forget to keep track of privacy and security considerations from various government agencies.
While such recommendations might mediate the issues, it is not a solution to the problem. “80% of organisations seeking to scale digital business will fail because they do not take a modern approach to data and analytics governance”, Gartner says. Consequently, investing in data management allows you to:
- Handle large volumes of data
- Collect data automatically from various sources
- Tracks data through real-time streams
- Compose complex databases
- Group and standardise data in batches
And this is not all! Some data platforms understand the importance of data lineage and associated permissions, allowing you to regulate your data collection. Legal constraints regarding data privacy should be taken into consideration, pushing your business to comply with necessary jurisdictions.
With a data platform, the benefits are endless:
- Save time and resources needed on projects
- Ensure scalability & industrialization of your data
- Facilitate problem-solving through out-of-the-box, turn-key solutions
Using such a platform will provide the necessary tools to overcome challenges in data collection, and more. Handling data effortlessly and untangling the messiness of having to collect data from a great number of sources, is a must. It will also make sure that collection is done only once, avoiding overcrowding and overlapping of unnecessary data. Even more important, complex data in various forms can be easily fed, especially if you opt for a low - code platform. Through a user-friendly interface, using minimal code will facilitate accessibility to everyone and anywhere you desire.
Elevate the value of your data by making changes now, for the future!