The importance of timely and accurate data can never be underestimated.
Having the right – and crucial – piece of information at the very second you need it can be the difference between a spectacular success and a cataclysmic failure.
So, why do some Australian companies put up self-inflicted roadblocks, which prevents them from maximising their return on investment, and slow down their digital projects?
“Having the data on how an employee, contractor or customer interacts with you is the most valuable asset a business has,” Boomi Managing Director, Australia and New Zealand, Nathan Gower recently revealed to Ticker Insight. “As much as 68 percent of company data goes untapped or wasted.
“That means up to one-third of what’s happening in the business is not being measured or captured.
Gower suggests data can no longer be “siloed”, meaning everyone needs access to it all.
“Companies need a digital central nervous system that connects so many levers,” he adds. “To ensure they all work at their best.”
“They need it to be integrated, so they can evaluate, analyse, and leverage the data that they generate.
This enables more informed business decisions to ultimately accelerate that transformation and innovation path that companies are on.”
Gower outlined a brand Boomi has worked with, to improve their technological output solutions, and be a more integrated business.
“We’ve helped Freedom Furniture to create a single view of their data,” Gower elaborates. “This helped to drive an operational transformation.
“Everything from product selection to supply chain optimisation, which together enabled to a more personalised customer experience, that they could deliver across both their bricks and mortar and eCommerce.
“This newly-found digital capability has really enabled them to kick off their turnaround plan, to rebuild sales and restore profitability.”
He also revealed how Boomi helped to integrate and support accurate data analytics with Ampol.
“The resulting intelligence has supported their ability to come to market more rapidly with new partnerships,” Gower added.
“This enabled that business to have agility in what they’re doing.”
Gower has one piece of advice for all viewers and business: “I often imagine how much more effective these businesses could be with a full picture of their data.”
For more information about Boomi, head to their website.