Possibly the only thing everyone in business agrees on is that money talks. Whether you’re looking at turnover or profit, the end game is the same – to make the numbers better.
What makes it incredible, is that so many businesses are happy to overlook obvious ways to boost those figures without having to chase more sales.
Trust me – it’s not as unlikely as it sounds.
Let’s talk about Data Quality
I often hear people talk about data quality, but in reality, it is quality data we require. As the renowned quality expert, W Edwards Deming puts it. “Without data you are just another person with an opinion”.
What we should actually be talking about is improving the quality of that data, so that what it tells us is accurate and informs our decision making in a more intelligent fashion.
Profit fuels your business, so it stands to reason then, that the decisions you make every day must be based on accurate and relevant data sets. It’s the only way that you can reduce risk, reduce cost and increase the effectiveness of decision making. If you are relying on ‘bad’ data, then you will be making bad decisions with a high degree of certainty – which is …