Why A Single Source Of Truth Should Be Top Of Your Wishlist

Posted by Jacob Goodwin in Insights - Last updated

In today’s competitive climate, businesses need to grasp every advantage they can get.

And having the capacity to convert your customer data into actionable insights is vital for making the most of your resources.

However, companies are all too often finding themselves pulling data from multiple systems. An activity which regularly results in contradictory and inconsistent outputs.

“Almost 70% of businesses agree that their teams need to more effectively leverage operational data to extract business insights.”

Business Insider

To provide the best possible service and streamline internal efficiencies they need to overcome this barrier.

They need to have a single source of truth.

The Importance Of Accuracy

Would you be willing to risk customer experience on inconsistent data? Or gamble on critical decisions being made off of outdated information?

You might get lucky once or twice, but it’s not a sustainable strategy for success.

“A critical thing thing that all companies need to do in order to get value out of their data is to ensure that all stakeholders are actually using the same data to make decisions.

They need to make sure they are working from a single source of truth.”

Talend

Accuracy is essential to ensure uniformity. To guarantee that everyone in the business is fully up to speed and able to make the right decision or take the best course of action.

Without accuracy, and a reliable single source of truth, time is lost reconciling the truth and customers are left out in the cold.

With no option but to turn to the competition in order to achieve their goals.

How A Single Source Of Truth Can Help

With faster and more timely decision-making, companies can put themselves in a better position to act based on the information at their disposal.

“Only 34% of decision-makers report that they feel confident in the accuracy of the information they use”.

KPMG

A robust data and business intelligence infrastructure that forms your single source of truth can:

  • Eliminate duplicate entries of data.
  • Provide decision-makers with the right data at the right time.
  • Substantially reduce the time spent on identifying which recorded data is correct.
  • Iteratively improve the data intelligence capabilities of the company.
  • Free up your specialist staff to get on with the task at hand.
  • Provide instant clarity at scale.
  • Facilitate an improved customer experience as staff are able to deliver the right service at the right time.
  • Unite the business to pull toward your organisational goals.

It is the foundation of prosperity. The benchmark against which you can measure progress and ensure your team deliver best practice process each and every time.

Don’t let your data drag you down.

Harness the information you already at your fingertips to streamline operations and delight new and existing customers at every turn.


Ready to explore how Anthill can provide your business with a single source of truth? Schedule a demo today.


Intrigued to learn more? Check out our Insights Hub to keep your business at the cutting edge.


Jacob Goodwin -

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