We often say that ‘data is scattered’. By this we mean that it is spread across several systems. But scattered data is not the same as lost data. Scattered data can be found. Lost data is of no use to anyone, even if it is technically still stored.
Why is the difference important?
I have had numerous discussions with senior management, IT managers and finance staff regarding data. The most common phrases go something like this: “We have the data, but…”, and that “but” says it all.
.”…but the data isn’t available for the report or for AI” …”but different departments are given different figures.” …”but the AI project fell through when it was realised that the data wasn’t in the right format.” …”but we don’t know whose responsibility it is to maintain it.”
None of these means that data is missing. It means that the data is lost, unused, or inaccessible when a decision needs to be made.
Data is only valuable when it supports decision-making. Before that, it is a cost.
Four signs that your data has gone missing
Do you recognise your situation in the following list:
- Compiling reports takes time because not all the data is available
- Different systems give different answers to the same question
- The AI project was launched, but no effort had been made to ensure the quality and availability of the data
- No one knows exactly where a particular piece of data comes from
What should be done about it?
Lost data cannot be recovered simply by adding more storage space or buying new systems. It can be recovered by turning the data into a product that has an owner, a structure, quality and a user interface that people actually use.
This is what we do in our Data Value Discovery service. In just a few days, we’ll help you gain a clear picture of which data is missing, which is usable, and which is worth utilising.
Data is not an IT problem. It is the raw material of management, and it needs to be brought to the fore.
→ Read the description of our Data Value Discovery service: www.dbproservices.fi
