We all know how Chinese Whispers works, a message is relayed between one person to the next and more often than not, the wrong message will arrive at the end destination.
The same approach can be given to data, the more data is handled the more potential there is for inaccuracies to occur. Yet, we continue to operate like this with data and then spend more time and money, having to rework the original data to make sure that it is fit for purpose.
Using the concept of LeanIQ can help companies to minimalise their waste in Time, Money and Face.
Time: Having to constantly re-work the data you have in order for it to be usable can be eliminated, by addressing the problem early on in the data life cycle. If the data, is corrected at the beginning, it will prevent the need for amendments and changes at the end process.
Money: Attacking the problem at the beginning can help to minimalise the financial wastage. This can be the man hours, that have had to been allocated to correct the inaccuracies in the data and the opportunity cost involved of using these personnel, when they could be better allocated elsewhere.
Face: Having poor data will lead to poor decisions, which can lead to a lower customer perception of the company. Having a streamlined process can also reduce lead time, which can lead to greater customer service.
If a manufacturing plant producing cars was to store all of its wasted materials and scrap work in the corner of the factory, you would be able to see a clear stock pile, yet companies seem to view wasted data in a different manor. The exchange of poor data, requires constant scrap and rework in order to convert the data into useful information. Yet with data, there is no stock pile for everyone to see, even though wasted data costs companies in time, face and money.
Many companies do not realize they even have errors, or duplicate data and allocate resources at the end of the process to correct the data duplication. LeanIQ is designed to find and target the root cause of bad data, and correct it at the beginning.