Data Capture for Business Process Improvement
Posted: Mon Dec 23, 2024 4:13 am
Today, data plays a crucial role in improving decision-making. But before you can leverage that data, you need to capture it, and technologies like process automation make this task much easier.
Let’s take a look at how businesses can use process automation to leverage high-quality data to gain a competitive advantage and achieve better decision-making outcomes.
Data Challenges
If you think the data problem is just a few misfiled documents, think again. Only 3% of enterprise data meets quality standards . That means most organizations are making decisions based on bad data. Here are five other ways poor data can leak into other areas of your business:
8 out of 10 employees waste time recreating pakistan mobile number list for whatsapp documents if they can't find them quickly
9 out of 10 team members waste a full workday each week sorting through company data
Gartner estimates that 40% of enterprise data is inaccurate or incomplete, leading to missed opportunities and misdirected insights.
9 out of 10 spreadsheets contain errors . A few small typos can sink a ship: NASA lost $80 million when a mistaken hyphen caused a probe to explode on its way to Venus.
Poor data quality costs an organization an average of $12.9 million per year, and that's just for the losses it can trace.
If these eye-opening statistics don’t make you rethink your data strategy, here’s what does. None of these challenges are one-offs; they’re piling up in organizations every day. Data doubles every two years , making seemingly innocuous challenges snowball into lasting impacts. What does clean data mean for your organization, and how can you leverage it?
illustration of a rocket
How to spot poor quality data
The typo that brought down NASA’s Mariner 1 could be hiding anywhere in your systems. Data cleansing is the process of rooting it out. You can spot errors, duplicates, and typos by cleaning your data.
Let’s take a look at how businesses can use process automation to leverage high-quality data to gain a competitive advantage and achieve better decision-making outcomes.
Data Challenges
If you think the data problem is just a few misfiled documents, think again. Only 3% of enterprise data meets quality standards . That means most organizations are making decisions based on bad data. Here are five other ways poor data can leak into other areas of your business:
8 out of 10 employees waste time recreating pakistan mobile number list for whatsapp documents if they can't find them quickly
9 out of 10 team members waste a full workday each week sorting through company data
Gartner estimates that 40% of enterprise data is inaccurate or incomplete, leading to missed opportunities and misdirected insights.
9 out of 10 spreadsheets contain errors . A few small typos can sink a ship: NASA lost $80 million when a mistaken hyphen caused a probe to explode on its way to Venus.
Poor data quality costs an organization an average of $12.9 million per year, and that's just for the losses it can trace.
If these eye-opening statistics don’t make you rethink your data strategy, here’s what does. None of these challenges are one-offs; they’re piling up in organizations every day. Data doubles every two years , making seemingly innocuous challenges snowball into lasting impacts. What does clean data mean for your organization, and how can you leverage it?
illustration of a rocket
How to spot poor quality data
The typo that brought down NASA’s Mariner 1 could be hiding anywhere in your systems. Data cleansing is the process of rooting it out. You can spot errors, duplicates, and typos by cleaning your data.