You wouldn’t allow your children to get away with telling untruths to their family or friends, would you? And you certainly wouldn’t let anyone else do so. But if you let data become and remain unclean, it will certainly be spouting nonsense to the rest of the company.
When your direct mail campaigns cost a fortune and don’t bring the desired returns because no one used address verification software or deduplication software, look out! When your directors make the wrong decisions based on rotten information from your data, it’s the parent who is going to get the blame. And who does the data belong to?
Being a Good Parent to Your Assets
You wouldn’t let your children get away with neglecting or abusing the valuable items in your home, would you? And you probably feel the same about your company’s assets: the premises, computers, printers, vehicles, stock, and on. You make sure everyone takes care of these and treats them with respect, don’t you? You look after the security of the intangibles like intellectual property, copyrights and patents. They have value too since they would be taken into consideration in any acquisition transaction.
It’s not likely that your business could operate successfully without your data, so it should be valued as one of your greatest assets and given the respect it deserves. Data costs you plenty as do your children. You have to invest to be able to collect and maintain your data with master data management. It needs hardware, and data cleansing software and people to look after it
Bringing up your Data
It’s worth investing a little time and money in keeping up to date with data cleansing solutions, so that you can be sure you always have clean data. Bring up your data wisely as a good parent should, otherwise your aspirations for it will never come to fruition, and it will become valueless.