Better business decisions with quality data
Digitalisation and omnichannel commerce mean that there is more data than ever, but data is also needed for commerce, including:
- Product information
- Supplier data
- Customer data
- Depot information
- Order and delivery information
- Availability and product range information
It is a challenge is to gather all the information required for commerce and to combine it to support business decision-making. The data in systems that support business activity must be of sufficiently high quality and the necessary processes and tools for its maintenance are also required.
Omnichannelling increases information management needs
In the consumer trade in particular, purchasing decisions and experiences are affected by e-commerce sites, advertising, the retail environment, peer experiences shared online, social media and printed catalogues. For example, in the furniture trade 88% of Finns purchase goods in local stores, but 40% research their options online before making a purchase decision. Information must be harmonised across all channels and it should support the customer’s purchase path.
In day-to-day business many factors can weaken data quality and hamper decision-making. Data quality can be affected by different practices in use by various players, inconsistent processes or a lack of rules. From a data quality perspective, critical situations include changes to system architecture, new and out-dated applications, and corporate mergers or investment projects in which information is collected from several different sources. In addition to this, day-to-day e-commerce trade also requires a complete and extensive range of reliable data.
Harmonised information provides an accurate and up-to-date picture of data such as customer records or in-stock inventory. Data quality improvement services ensure that information is uniform and reliable.