How data silos are affecting your business and ways to get rid of it
Data science, artificial intelligence, and bots are all terms used to describe predictive analytics. The advancements in data application continue to come in waves. You can't read any general or commercial industry news without being blown away by the possibilities. Even though the value of analytics is well-known, it is discussed considerably more than it is practiced. The main barrier to adopting advanced data analysis isn't a lack of knowledge or technology; it's simply a lack of data.
As the world becomes more digitalized, data is collected from multiple sources and stored separately. Data should not be segmented into different silos within the same company. It should be visible to all employees and accessible to anyone in the company without any hindrance or restriction for data analytics.
I used to work in an audit firm as a consultant in risk management. I had to calculate the risk and transform it into advantages by industry insights and information from client companies. For efficient and proper calculation, I needed data and information from every sector. But sometimes I was unable to collect data from the tax department of our very own organization which was a barrier to efficiency. Here’s the thing – if I couldn’t get a relevant piece of information on time from all the departments, then the quality of my work would suffer which would be a setback for both myself and the company at large. Also, if the client company was unable to give me their information, the risk calculation wouldn’t be accurate which could be a drawback for them as well. After facing the problem of data silos firsthand, I was finally able to make the senior management understand the pitfalls of it. Here’s how I explained to them and catalyzed change:
A data silo is a collection of data that has been segregated. They can be in the form of unprocessed or unanalyzed raw data or simply data stored by several business units within a huge corporation. Data silos can also occur when data is kept in a way that prevents data tools from reading or accessing it. Data silos can impact your business in many areas such as:
Performance: Companies must frequently make prompt and educated decisions in today's fast-paced world. If you don’t have updated and audited data on time, your company’s performance can be slowed down by data silos.
Communication and teamwork: Because of the existence of data silos, your teams have limited insight into the company's information. When your employees only see a portion of the bigger picture, they'll miss out on opportunities to collaborate on shared goals or make the most out of data that's already been collected.
Efficiency: Employees who need access to data may frequently save their own copies for rapid access when there is no easy central data storage solution which will reduce the efficiency of their work and your company at the same time.
The workplace landscape is changing at an exponential rate with advancements in artificial intelligence, big data, blockchain, and automation driving a global shift in business models and job roles. Data must be free of silos within the company to unleash its potential. To centralize the data and make the best use of it some companies are adopting integrated field service management software like Custella.
You can get all the information about your company regarding assets and inventories, delivery schedule, employee profiles everything in one place. It has some amazing features like order and delivery management, real-time location mapping, customer portal which ensures the free flow of data within the company.
It’s your responsibility to improve communication across your organization, from merging departments to integrating collaboration into your employees' KPIs.
Still have more questions? Check out more FAQs on our website here. You can also get in touch with us below from the link below; we are always happy to get back to you with any queries regarding your business.
Need a field service management application like Custella? If you’re in the ASEAN region (Malaysia, Indonesia, Singapore, Brunei, etc. ) or Australia/Oceania, drop us an email to schedule your demo: ask@custella.com.
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