Although most corporate conversations about data focus on quality, data utilisation is also a critical concern. 95% of data never gets used, and since the useful life of data can be as short as a few days or weeks given the industry, value is being lost every day.
Fortunately, new data is being created at an even faster rate; the decision to get started is ours to make.
This episode of the Art of Procurement Podcast (AOP) is based on an AOP Live session focused on the results of the fifth annual Data Quality and Governance Study conducted by The International Association for Data Quality, Governance and Analytics (IADQGA).
Listen as Kelly Barner was joined by Joseph Yacura and Vishal Patel to answer live questions related to data quality and actionability:
- how to get started on a data quality journey despite the complexity of today’s business environment
- best practices and rules of thumb about the lifespan of corporate data
- what procurement should be doing differently and/or better with the system-generated data to which they already have access.
“One of the big challenges I think we’re facing as a supply chain is – and I don’t say this lightly, but I really believe it – that we as a supply chain function are in a battle for supply chain data supremacy,” Joseph Yacura, Founder of the International Association for Data Quality, Governance and Analytics (IADQGA).
“Whatever supplier and customer can communicate at the level that they both need as far as data goes to manage their operations, those two partners are going to win overall in the marketplace.”