Distributors should ensure they are using quality data for their analytics capabilities, although this is a common challenge, according to respondents to the latest MDM-Baird Distribution Survey, whose results were chronicled in Prioritizing Big Data.
Finding quality, consistent and standardized data is a huge challenge when implementing an analytics strategy. If data is incorrect or incomplete, the results will be too.
“The challenge with big data is that a lot of the data out there is dirty,” says Jim Barnes, ISM Services managing partner. Data is also being submitted in multiple formats, making standardization an even more tedious process.
Unfortunately, there is no easy way to find quality, standardized data that will yield accurate results. Getting clean, usable data requires an investment in time and people. However, the strategic use of analytics will continue to be a competitive advantage for those who invest in it.
Read more about analytics priorities for distributors in Prioritizing Big Data.