Establishing a solid and trustworthy Data Foundation

A recent study published in Forbes Magazine found that “only 33% of business wonders trust their data enough to use it effectively and derive value from it.” This makes it incredibly difficult to implement data-driven strategies that propel your business to success.  

Fortunately, there are many steps you can take to make your data more accessible, such as establishing a solid and trustworthy data foundation. 

Why is establishing a solid and trustworthy data foundation important?

Establishing a solid and trustworthy data foundation is important for various reasons. Not only will this allow you to further your understanding of your data, but it also means that you have a trusted and reliable data source to rely on when making important decisions moving forward. 

This form of evidence-based planning, which is backed by real-time data, can be put to use for a variety of tasks, from forecasting to executing a successful and compelling marketing campaign. 

What are the challenges that business owners face when establishing a solid and trustworthy data foundation? 

There are many challenges that business owners face when establishing a solid and trustworthy data foundation. This includes: 

• Data Integration. Data is often stored in multiple places and in multiple formats. This can be hard to consolidate data and understand the analytical information that is being presented to you. 

• Compliance and Governance. Business owners must ensure that data security is taken seriously in order to comply with all of the relevant regulations and legalities. 

• Data Literacy. As mentioned above, many business owners lack an understanding of the basics of data analytics. This can make it difficult to put data to work within all areas of your business.

• Prevents Data Losses. Establishing a strong and trustworthy data foundation an also help you to prevent the loss of data, especially if you have been previously relying on outdated legacy systems, within which data losses are increasingly prevalent. 

How we can help.

If you have found your way to our site, it's likely because you’re struggling with your data. In fact, you may even be a little embarrassed about just how “messy” your data is right now. Don’t worry; we’ve definitely seen worse before, and we’re on hand to help you clean things up! It's what we do best, and believe it or not, we enjoy doing it! 

By building out a framework for data within your business, we can ensure that your data is clean, reliable and easy to access. This means that you’ll then have a world of opportunity at your fingertips, allowing you to put your business on the path to success. It also means that you never have to comb through piles of confusing data in search of what you are looking for ever again. Think of it as a way of “spring cleaning” your data, which leaves you with a data pool that is up-to-date, accurate and concise. This is also a great way to ensure that you remain compliant with changing regulations and guidance.

Our expert data foundation services encompass a wide range of pain points, including: 

• Data Governance and Auditing 
• Contact Data Review
• Customer/Target Audience Analysis 
• Historical Sales Performance Review
• Pipeline Analysis

By touching upon all of the points listed above, we’re able to help you transform your data from a mess into something tangible that you can actually use to your advantage. This can save the amount of time you spend pouring over confusing data while also giving yourself and your team greater confidence when it comes to future decision-making, as you can use the data to inform your next steps.

Time and time again, our customers reveal to us that they have refrained from seeking help when it comes to data management because they were embarrassed by the current state of their data. However, we’re here to assure you that it is nothing to worry about. Data mismanagement is incredibly common within small businesses, especially when you have a million other tasks to manage at once. 

Furthermore, this is something that we’re able to help you with. We have years o experience when it comes to establishing solid, trustworthy data foundations on behalf of our customers, so that you’re able to wave confusing spreadsheets behind and focus on business growth and expansion instead. 

Still not convinced? If your business is in good shape now, imagine the position you could be in if your future decisions were backed by accurate, trustworthy, real-time data- the kind that provides you with invaluable insight into your business, your customers, and the landscape in which you operate.

Act Today, Grow Tomorrow.

Good data used to be “the future,” but it's here now. In fact, you may already be behind due to dated management processes or a lack of trustworthy foundations. 

No matter the state of your data, the sooner you take action to resolve this, the sooner you can put that data to use. Whether you’re looking to improve operational efficiency, forecast future trends, or simply strengthen your marketing campaigns through developing a deeper insight into your customers, establishing a solid and trustworthy data foundation can help you do all of this and more. 

The future of your company is in your hands,  and you shouldn’t let any reservations relating to the current state of your data stand in your way when it comes to taking action.