We’ve all heard the statement “knowledge is power” but what does this mean in terms of your data?
What if you had to base a critical business decision on the data in your HCM system today that would impact your company’s financial well-being for the next five years? Would you feel confident in your system data? Are you thinking back to the implementation of your system and wishing you had captured that key data you were going to go back and put into place to help give you a better dashboard of your key business drivers?
You’re not alone. Maybe you are new to the organization and inherited a less-than-desirable data set being captured to help navigate your business decisions.
Here are some food for thought.
Is it too late to capture good, meaningful data? Data preparation is key to turning your company’s vision into reality and remain competitive in the marketplace. A company gives shape to meaningful data by putting it into more meaningful categories to help you realize what’s going on in your enterprise.
Secondly, do you trust your data? Is it clean, error free and current? Would you stake your business reputation on the information captured in the system to drive those decisions? Are you now thinking about best laid plans to eventually ‘clean up’ that data you’ve been meaning to…when you have time. We’ve all been there, whether in business or spring cleaning in your own closet or garage. As George Santayana said, “Those who do not learn history are doomed to repeat it.” This applies more than ever when it comes to staying competitive in the marketplace and recognizing emerging trends within an organization. Understanding what your data is telling you. More importantly, showing you is key to remaining competitive in the marketplace.
If your data is not reliable, is outdated, or if your organization is not capturing the right data can lead to uninformed, incorrect and outdated decisions. Think of Polaroid, Blockbuster or other company that failed to recognize the emerging trends in their line of business and is now a case study for business classes in every university.
So, is your data ready for enterprise decision making? Let’s talk. Stop by RCMT’s booth at ADP’s
Meeting of the Minds Conference in Las Vegas, March 31 – April 3, Kiosk #2.