As the quantity and diversity grows across different areas such as finance or human resources (HR), siloed groups continue to grow too!
It’s no secret that the average business environment has changed dramatically in the past few decades, and this process was hugely accelerated in the past year due to the COVID-19 pandemic. Technology has made incredible progress over the years but the accelerated adaptation of it is also starting to cause some issues for existing businesses.
Employees face upwards of 60-100 emails per day, and the workplace has expanded to include remote colleagues and teams due to the Work From Home situation in many countries. Information is coming in from dozens of different geographical locations, devices, servers, apps as well as many other sources.
In today’s world of business, it is more important than ever to be creative and productive. Data silos are the opposite of both these things because they cause a company to have scattered data which leads to confusion and inefficiency. This blog post will discuss why siloed data can be detrimental to your business, how you can recognize it, and what are some of the steps you can immediately take to start taking control of your data so you will see an immediate impact on your company’s creativity and productivity.
How do I recognise siloed data?
-The biggest problem with siloed data is the scattered data. This leads to confusion because each department will not be able to find the information they need due to all their data being in different places. It also makes the staff inefficient, as they are constantly searching for important and relevant documents instead of spending time on more productive tasks such as generating new ideas or doing actual work.
-Another major issue with siloed data is the way it causes too much communication which can lead to mistakes and wasted hours across departments just carrying out redundant conversations about specific pieces of information which should already be stored somewhere else within their own office – this multiplies when working remotely! Working together becomes slower than ever before, so creativity suffers and so do the company’s outputs.
– Siloed data also impacts creative processes, as people are more likely to come up with new ideas when they have a broader view and can see the big picture of their work, and not just an insight from one small section or department which can be limiting.
-Company employees can work better by collaborating more, but it becomes challenging if they don’t know what the company currently offers and lack access to certain systems due to different buildings, departments, or even different countries.
This becomes even more challenging when staff turnover occurs. In order to locate and transfer everything, everyone involved has to go through old emails, documents, and data storage, in order to find whatever needs to be transferred into the different systems. This is time-consuming and inefficient.
-Managers are often left with few options when confronted with scattered data and a siloed structure. They must be intimately involved in every decision to ensure the correct information is used, which could lead to employee burnout.
The cost to your business
-The first cost will be missed opportunities due to wrong decisions based on incomplete information, or because of the multiple steps it takes to get from initial data collection to action.
-The second cost is more tangible and will be a decline in your company’s staff productivity. Most are likely to be frustrated by inefficient processes, which could potentially lead to reduced job satisfaction and even company exits.
-Businesses may even be risking customer satisfaction by not having important information at their fingertips when they need it the most: when dealing directly with their customer’s needs.
This means that these companies need better systems in order for their staff members’ time to be spent effectively and efficiently.
How to get better organized
The best way to get organized is by adopting a single database. This can be done in many ways, but the most common approach is through enterprise resource planning software (ERP).
It is also important for companies to invest in systems that are designed with today’s workforce needs in mind – meaning tools and processes should provide employees with autonomy over their workday tasks, enable them to connect seamlessly across teams, right from within the system they are using every day without switching back and forth between applications or programs.
Having an integrated system will allow your staff members to optimize their organizational skills – allowing them more time on projects of value while spending less time looking for information or trying to figure out which data is correct.
Finally, if your company is looking to innovate or create new products and services – data integration can help you with that too, by helping you to find patterns in the information. Patterns like, what is most popular among customers, or which customer segments are growing at a faster rate than others.
Take charge of your data and start creating that single source of truth, whether that is a central database, data warehouse, or an ERP solution.
If you have any questions about this blog post, please email us at firstname.lastname@example.org
Or book a free session with us here and we can examine your specific situation and needs in more detail.
Stop Siloed Data: Improve Creativity and Business Productivity, so you can bring your business to the next level.