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Are you storing your data in a silo where it doesn’t belong? Data silos are just like farm silos in the way that these grains are stored, in stand-alone towers. A data silo is defined as a set or source of data that can only be accessed or edited by only one department in an organization. The initial benefit of data silos is the storage space and user relevancy but can you trust your data that has been sitting stale in silos?

According to Simpler Media’s 2019 State of Digital Experience report, surveying over 300 digital customer experience executives, data silos is one of the biggest challenges impeding digital customer experience efforts. To continue, 47% of those professionals indicated that data silos are hurting their digital customer experience initiatives.

While rice, wheat, and corn belong in silos, your data deserves better than to sit in a silo. The big question is: are data silos bad? Not entirely… When used correctly, silos are great for storage. However, silos can do more harm than good to your organization. This is especially the case when companies start data dumping, which ultimately leads to losing valuable data.

Data silos also result in many other negative impacts such as:

  1. Stale Data: The storage space itself is a wasted resource as data stored is not always complete and accurate, which is a result of data dumping.
  2. Less Collaborative Environment: Departments in your organization will have to work independently because of data silos and will not have access to other data other than their own.
  3. Lowers Productivity: Data silos slow down your organization as teams are unable to access the right data that they need, time will be spent looking for the data.
  4. Threatens the Accuracy of Your Data: Data dumping may lead to isolated data. This data will eventually become unusable and inaccurate.

The Solution

Don’t treat your data like corn! Ensure that your data and information is accurate, complete and transparent. Making sure that everyone has access to the same information can help destroy data silos. With visibility and flow pertaining to your data, your company can make the best use of your existing silos. We can help you get your data right! NRX AssetHub is an EAM and CMMS software solution that helps asset-intensive companies. We can help you to implement data standards, assess data quality and help fix issues related to your electronic information. Interested in learning more? Book a demo with us today to see how we can best assist you.

Sources: https://econsultancy.com/data-silos-if-they-re-so-bad-why-do-they-still-exist/

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