{"id":1490,"date":"2022-08-17T21:45:39","date_gmt":"2022-08-17T21:45:39","guid":{"rendered":"https:\/\/www.trccompanies.com\/insights\/the-rise-of-data-as-a-business-problem-and-what-you-can-do-about-it\/"},"modified":"2025-02-19T16:34:00","modified_gmt":"2025-02-19T16:34:00","slug":"the-rise-of-data-as-a-business-problem-and-what-you-can-do-about-it","status":"publish","type":"news-and-insights","link":"https:\/\/www.trccompanies.com\/fr\/insights\/the-rise-of-data-as-a-business-problem-and-what-you-can-do-about-it\/","title":{"rendered":"The Rise of Data as a Business Problem \u2013 And What You Can Do About It"},"content":{"rendered":"\n\n
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Data as a Business Problem<\/h2>\n

Achieve better outcomes using a modern geospatial platform approach that connects systems and increases data accuracy.<\/p>\n

Even in a post-pandemic world marked by increasing inflation and global disruption, investments in technology and data continue to rise. Gartner projected worldwide IT spending to total $4.4 trillion in 2022, an increase of 4% from the previous year. Yet, even as spending continues, many companies find themselves unable to transform their vast data stores into actionable intelligence. Saddled with antiquated technology consisting of a hodgepodge of disparate databases, including data locally stored on laptops, companies struggle to manage their data as an asset. The result? Duplicate, erroneous, and out-of-date information that leads to poor decision-making, which is costly.IBM discovered that businesses lose $3.1 trillion annually in the US alone due to poor data quality. A previous study from Gartner reports poor data quality costs individual organizations an average of $15 million per year. Many businesses, big and small, across industries, simply don\u2019t know what\u2019s behind the proverbial data \u201ccurtain.\u201d As a result, they don\u2019t have an accurate account of their information and how to use it in a modern way that meets their business objectives.<\/p>\n

Despite all of this, there\u2019s a reason for optimism. A modern geospatial platform, developed with flexible architectures and APIs, can connect systems and optimize data using the power of location. It can enable companies to transform incoherent data into actionable insight, delivering greater value to the business\u2014and the end customer.<\/p>\n

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IT complexity that causes poor data<\/h2>\n

Today\u2019s modern data dilemma exists for several reasons, including disparate enterprise systems, independent data silos, antiquated infrastructure, and legacy geospatial technologies, applications, and development environments. This mixed bag of data and technology creates complex integrations and unnecessary points of failure.<\/p>\n

From customer addresses to asset locations and field service work orders, the same data is often created and managed multiple times in separate applications and disconnected systems. This results in duplicate data stored in different silos and format.<\/p>\n

And because data is inefficiently managed in a way that lacks flexibility, business unit managers or IT analysts can\u2019t perform independent project work without needing a newly dedicated technology stack and a massive data preparation project. Moreover, many companies don\u2019t have a clear pathway to incorporate new technology, including GIS, into the services they provide to business users.<\/p>\n

When an organization wants to create a new application, it strains already precious, finite resources because it must build \u201cthe whole stack\u201d from scratch. Unfortunately, companies that recognize these challenges often don\u2019t have the bandwidth or resources to rebuild their infrastructure and train people.<\/p>\n <\/div>\n <\/div>\n<\/section>\n\n\n\n\n

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What businesses need\u2014and what leaders want\u2014is to make data accessible from one place to understand what their data looks like, devoid of duplicates or errors. This leads to trust in data, enabling companies to make better decisions, optimize operations, bring new products and services to market faster, and deliver customer value that turns into increased revenue and brand loyalty.<\/p>\n

Yet even the savviest IT leader may not understand the entire tech landscape and how to address data challenges in a more modular way that scales for the future.<\/p>\n

One way to solve the technology and data dilemma is using a modern geospatial platform. Built with a unified, well-documented API, a well-planned GIS implementation can replace patchwork IT infrastructure built over decades of incremental investment that includes kludgy system connections. With a platform approach, organizations can modernize systems at their own pace. They avoid massive all-in-one projects that aim to update the entire IT infrastructure at once.<\/p>\n <\/div>\n

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