Your Data Is Your Competitive Advantage, If You Can Find It
An organization’s data is a unique asset. Its specific data does not exist anywhere else, it can’t be purchased, and it can’t be replaced. It is the memory of the organization, and without it, business would come to a standstill, decisions would not be made, and the doors would shut.
Like any asset, data has value. Not in monetary terms, although some companies do place a monetary value on data. It is only of value when it is found and used, and what it represents is understood. It is often a source of competitive advantage. If it is not understood, its value diminishes. If data cannot be accessed, to enable decision making, then it is of no value.
If a document is replicated with subtle variations, it becomes unreliable. Continuous poor data quality, inaccessibility, and questionable reliability will eventually impact an organization’s financial performance.
To succeed, data must be found, understood, and used. How is this accomplished? In the digital world, through your search engine. Quite frightening in some ways isn’t it?
Effective information transparency and retrieval is something we all need. Though, for the majority of organizations, the quality of search and retrieval is less than ideal. But this has become acceptable, the norm, so to speak.
Metadata is often missing, strung together using poor technologies, or erroneously entered by end users. The result of all these scenarios is that critical business information cannot be found, so cannot be used. Acceptance of mediocrity seems to suffice for most of us. Do you happen to have an exceptional search engine?
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