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HW Business Systems Ltd

01243 533447

07767 304509
neil@hwbusinesssystems.co.uk

Data

Your data is your most valuable asset

How much is data worth?

It seems like a silly question, until you recognize a really intriguing fact: If you look at the financial valuations of companies that were built on data, like Facebook or Uber or Twitter, there’s a gap between the actual market valuation and their market valuation. That’s their goodwill gap, and that gap is what, as Capgemini vice-president Jeff Hunter puts it, “screams to the value of data.”

Just to illustrate – and I’m certainly not the first one to make this comparison – Facebook is now worth about £350 billion. United Airlines, a company that actually owns things like airplanes and has licenses to lucrative things like airport facilities and transoceanic routes between the U.S. and Asia, among other places, is worth £50 billion. Facebook has data as it's major asset, and revenues are driven purely on the company's ability to create profitable algorithms using data. In other words, their marketing targeting is second to none.

It is only through insights on data that businesses truly get to competitive differentiation nowadays. Today’s digital world is otherwise just too complex to run intuitively.

Technologies like databases, cloud, virtualization, and the like, come and go. On the other hand, data is permanent and its impact is tangible. But it’s something that needs to be curated and collected to derive the true value. Done right, it’s something that can change the very essence of how business is transacted.

There are retailers, for example, who have captured every single click ever on their web site and have designed their business around the insights they have derived from this data. That sort of depth and breadth of data is unbelievably valuable, and has propelled their companies forward with foresight and insight.

Why is accurate Data Migration important ?
Getting data from several disparate systems into what is affectionately called a “single version of the truth”. So all of the customer master data is sourced, profiled, cleansed, transformed, merged, de-duplicated and loaded into a target system – thereby helping make your company smarter and more efficient... is why effective and accurate data migration is so important.

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