Businesses are discovering that their success is increasingly tied to the quality of their information. Organizations rely on data to make significant decisions that can affect customer retention, supply chain efficiency and regulatory compliance. As companies collect more and more information about their customers, products, suppliers, inventory and finances, it becomes more difficult to accurately maintain that information in a usable, logical framework.
The data management challenges facing today’s businesses stem from the way that IT systems have evolved. Enterprise data is frequently held in disparate applications across multiple departments and geographies. The confusion caused by this disjointed network of applications leads to poor customer service, redundant marketing campaigns, inaccurate product shipments and, ultimately, a higher cost of doing business. Add to that a sense of unrest and poor communication between departments regarding data quality and you’re at a standstill.
Much of this is directly related to building stronger links between business and information technology. While data stewardship and management are functional aspects which our VCIO program encompasses, it’s but one part in a successful IT strategy.
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