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Are data really an asset?

Are data really an asset?

However, although it is important to have an appropriate technology for the processing of these, the most important is the use of it, which responds and aligns directly with the materialization of the company’s strategy. The generation of the necessary skills in the work teams for their understanding and the identification and subsequent use in the day-to-day knowledge generated from the data.

The important thing is not to have a “nice” control board if not the use and decisions that derive from it. That so much value is generating to the organization via processes, transformation, or new products.

Remember that data has some associated costs such as: Infrastructure (Storage, network, security, …), Development (SQL queries, Reports, Control Boards, Mapping, …), Change Management (People Training, Empowerment, Development Paths, …), Processes (Clear definition of indicators, unification of concepts, ….), Management and control (Monitoring and identification of alignment of indicators and data with business reality, adjustments in definitions and subsequent adjustment in developments, …). For all this and more, we can say that being able to have data in itself is a Liability until you generate value with it in the:

    • Simplification of processes: Simpler, automated processes and above all with sustainable growth (personalized attention of users automatically, immediate order generation, inventory management minimizing cost, …)

    • Decision making: Decisions more probability of success and less Uncertainty, automation of them from probabilities (automatic credit authorization, quota authorization, immediate attention, purchase of products without manual verification processes, changes in process variables during product manufacturing – temperature, time, humidity -.

    • Identification of opportunities: Deep knowledge of the customer, business and market that allows to identify new opportunities, correlation of products, sequence of purchase, changes in the environment, new realities.

Technology automates the solution and allows it to be scalable, not focus on an application, puts all your effort into the strategy and how to materialize it from the data.

If you want to know more about this subject, besides having a talk of generating value from data, we invite you to contact us, it will be a pleasure to know your reality and contribute in your Competitiveness and Sustainability from People, Data and Technology.

Juan Salazar
CEO Dation
+57 312 2035728