Data Assessment & Optimization
Gain Renewed Confidence in Your Business and Customer Data
Numbers never lie. But they are too often misinterpreted, especially in industries notorious for complex accounting practices where uncaptured activity, inconsistent electronic and manual inputs, pricing volatility, and far too many unknowns constantly threaten data integrity. When leaders from different departments have misaligned concepts of performance and profitability, it creates friction, undermines strategic decision making, and leads to missed opportunities for your business.
With an in-depth understanding of the whens, wheres, whys, and hows of data inputs, knowledge of missing variables, and established organization-wide processes for consistently addressing data gaps, leaders across the business can operate with greater confidence in the numbers and a more unified business vision going forward.
The Impact 21 approach to Data Assessment & Optimization moves your business closer to a single source of truth through:
Data discovery and data mapping. Dive deep into data set inputs, systems and system integrations, and operational accounting processes to create a baseline for understanding your current data environment, its capabilities, and its limitations. The more you know about how outputs are derived, the better you understand what the data can (and can’t) tell you about your business.
Data optimization. Address gaps in inputs, data collection, and calculation methodologies. Clearly define processes that account for missing or unknown variables. Establish data sets, parameters, and streamlined processes that can help your business reach specific goals and drive additional value from the data.
Quality assurance. Ensure a higher level of data integrity by establishing governance rules and regular checks on validation of integrity (reliable, current, and relevant), accuracy (correctness), bias, lack of knowledge about all the data needed, and intentional falsification of some of the data being introduced into the system.
Ongoing data management best practices. Integrate new and future sources of data more easily and seamlessly into your ecosystem based on your solid understanding of data streams and processes.
It’s easy to overlook data issues that can cause or exacerbate performance problems or keep your organization from fully realizing the benefits of systems, technologies, and processes. As part of almost every engagement, Impact 21 partners with retailers and wholesalers to bring these issues to light and create the solid data foundation that drives smarter strategy and enables businesses to more successfully put their customers first.