De Torres, Paula Marie A.

BSAC-2A

Each business association today depends on information to make informed

decision. Data can help us solve problems, monitor performance, improve processes,
tackling issue, and get a better understanding of the market. However if the business
manager commits a mistake it will affect the overall operation of the company. Take
for example, business manager was too overwhelmed by the present amount and
had forgotten to review the past data and reported to the Board of Directors that the
company will eventually hits its return of investment in three years. This mistake will
cause failures in those business process which rely upon information/data from
reports to ordering products and just about everything in between for which facts
are required. These failures might result in costly rework efforts validating and fixing
data errors. In addition, the company will lose revenue in many ways as they do not
have enough information they can make a decision that may harm the company will
lead them to lose revenue. For example, communications that fail to convert to sales
because the underlying customer data is incorrect. It can result in inaccurate
targeting and communications, especially in multichannel selling.

In addition they will fail to predict business opportunities. The organization will
miss out on a lot of potential prospects. If this data is inaccurate, companies will
create wrong and ineffective strategies. At the same time, they won’t be able to
analyze data and find a solution or plausible opportunities for the success of the
company. Also they may use wrong business strategies. When working with
inaccurate data, business leaders will only make the wrong conclusions. Instead of
using data to get closer to their goal, they will do the opposite.

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