As the last, empty box of chocolates goes into the (recycling) bin and the famous January Blue Monday slopes into view after the Season of Goodwill, it can often bring with it its unwelcome extra baggage: regrets!
Many of us attempt to remedy this through some timely New Year鈥檚 Resolutions that聽聽around the following aims:
- Exercise more
- Lose weight
- Eat more healthily
- Take a more active approach to health
- Learn a new skill or hobby
Yet 80% of such resolutions are reported to have failed by February; maybe regrets 颈蝉苍鈥檛 the best of motivators!聽, the logic lies in leaving the guilt to one side and instead making some positive decisions about how the coming year will look, in a measurable way. For example, turning the generic goal of 鈥榳anting to exercise more鈥� into a time-sensitive plan to run a 5k by June.
It鈥檚 not too much of a muscle-worrying stretch to say that across the world, many businesses are finding something similar in terms of data quality operations. A 2017聽聽stated that:
鈥溾��84% of CEOs were concerned about the quality of the data they are basing their decisions on.鈥�
Banks鈥� core systems are famously aged, making them prime candidates for causing worry and concern about the data they hold, and the impacts it can have on business performance and customer satisfaction. But rather than wait and regret, banks too need proactive and measurable plans for data users across the business to build step-changes in their business capabilities 补苍诲听meet regulatory requirements.
Over the next few weeks and based on our experience with our clients in 2017, we鈥檒l take a look at some comparable, achievable goals for data users, heads of department and regulatory reporting functions.
Part One will be to expand on聽I need to exercise more聽and turn it into聽I need my data ready to deliver business improvements – by the summer!