The data in your organisation is full of potential. Stored throughout the business, it has a wealth of possibilities
The leading institutions in your industry recognise that a better understanding of data (particularly as a predictor of the future or an identifier of existing issues) can create new opportunities and makes a significant difference to managing performance, costs and risk.
Good data is the fuel for insight. From the outset an organisation must understand what data it has, what data it can access, and the quality of the available data. Organisations need to attach priority to critical data and force improvements as early in the process as possible.
Strong Information Management delivers the high quality data that underpins confident analysis, decision making and risk control.
Impact of poor Information Management
- Do you know what data your organisation holds, how, where, and is it of sufficient quality?
- Do you have multiple instances of customer, product and supplier data, and does this cause challenges?
- Does it take more effort than one would expect to gather reliable management information?
- Do your customers complain that you don’t get their details right?
- Does your business run on multiple versions of spreadsheets?
- Are your order to cash and procure to pay processes beset by delay, error and rework?
- Do information users understand where their data came from?
Despite significant investments in new systems, technology is only as good as the data that runs through it: ‘rubbish in, rubbish out’ was always – and remains – a fundamental truism of any system.
Taking control of your data
Our experience shows there is a positive ROI to be achieved by pinpointing and tackling Information Management issues. We help clients to:
- Manage information to deliver repeatable systems-based analysis capability;
- Transform data into information by applying domain expertise; and
- Develop and execute good practice to properly govern structured and unstructured data across the organisation.
Understanding your data landscape; monitoring the quality of that data; actively managing data privacy, compliance and security risks; and establishing clear accountability and ownership are all vital to engender a culture of trust and confidence in the data that supports operational and management information requirements – people, processes and technology must be orchestrated in order to achieve this and enable an organisation to leverage data across the enterprise.
At Deloitte, we have experience in all of these aspects, helping leading organisations to diagnose and resolve data issues; to develop and embed Information Management strategies; to control their master and reference data; to integrate data from disparate systems, and migrate data from legacy to strategic platforms; to audit and monitor their most valuable data sources; and to design and implement strong data management solutions and controls.