We can’t improve upon data quality if we don’t have measurements in place to evaluate its effectiveness. Data Scorecarding is about taking the data shared between trading partners and evaluating it. It measures both quantitative and qualitative data quality against Industry standards.
If you can answer “Yes” to any of the questions below, data scorecarding should be considered.
- Are you confident that you are sending / receiving all the data you need to competitively sell products?
- Do you have staff or entire departments who spend their day addressing data quality issues - (correcting purchase orders, adjusting invoices, reconciling deductions, etc.)?
- Does your company put off data quality initiatives because they’re difficult to pinpoint and prioritize?
- Is it a challenge to communicate the ROI of quality data internally and with your trading partners?
The mismanagement of quality data is a significant issue that erodes profit margins, diminishes customer confidence, and causes lost sales every day, especially with web selling. Data Scorecarding gives your company the tools to make necessary changes that directly impact the data. It gives you a starting point as you make your way to improving data quality and then allows you to verify the progress with further validations.