HOW TO ACQUIRE VALUABLE DATA?

Publish date:

• 6th December, 2023

Business success is increasingly getting dependent on the right data at the right time say Salesforce Partners. The pressure has increased with artificial intelligence fuelling the requirement for companies to have access to quality and reliable information. A large percentage of decision-makers say trustworthy data is needed more than ever. To meet this demand, leaders must empower staff to drive with information maturity & create a strong data culture within the company. Recently Salesforce spoke to senior management globally who are building this data culture structure & forging a path for an AI-led tomorrow. Over 10,000 professionals were surveyed, and their findings make way for the “new State of Data and Analytics Report.”

1. Reliable data is the foundation of strong AI.  All AI use cases — be it predictive analytics to IT management — are bolstered by information.  But no AI solution can deliver the results a company is seeking without the presence of quality & reliable information confirms Salesforce Partners. It's quite simple = flawed data leads to inaccurate plans, strategies, and actions. So, what makes incoming data reliable? With a large cache of data, what best practices need to be adhered to so that the data remains of superior quality and trustworthiness? Here is what makes for a good database – regular review & cleaning of data, data protection, and security as well as a robust governance framework for all data-related issues/lifecycle.

2. Data is useful when it and business strategies are in sync. To get data to work for you, the company management and analytics department fix the disconnect. The work starts with a comprehension of business objectives, and what information is needed to support them. Once everyone has agreed on the business strategy, A data strategy is next + technology infrastructure that enables business priorities. This strategy assists to fuel the required insights across the company & remove data silos that hamper collaboration & decision-making.  The result is improved financial performance, increased productivity, and long-term competitive advantage. According to McKinsey Global Institute, ‍data-led companies are 20 times more successful in acquiring clients, 6 more successful in retaining clients, and 19 times more profitable. Wow. Isn’t that proof enough to be a data-first organisation. We at Codleo - Salesforce Partners, always advise our clients to invest in clean & accurate data that is up to date.

3. Higher data maturity translates to greater AI rewards. “Data mature” is a sophisticated way of saying that the company is striving for data transformation, with the information being used for decision making, driving innovation, and planning the journey. Data maturity comes with many pluses revealed by Salesforce Partners. McKinsey research reveals that data-led firms meet their goals quicker & that their initiatives add at least 20% to their income.

Get your large volume of data to work for you with Salesforce Data Cloud. Codleo as the leader of Salesforce Partners is your best bet to deploy Salesforce Data Cloud to get your business the edge it needs from your incoming data.

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About the Author

Arun Sharma

Arun Sharma, the Chief Operating Officer (COO), focuses on business expansion, product development, and strategic growth. His skills include project and account management, where he improves operations and boosts efficiency. With a growth-driven approach, he leads innovation and ensures projects are completed successfully. His strategic insights have been key to achieving steady results and building long-term client relationships.