Data. We are a world of constant data production, and this is only going to increase as technology and systems become smarter and more diverse. This high volume of data gives us opportunities we have not had before. It gives us the power to capture and analyse unprecedented amounts of information, that when interpreted and managed correctly, can eliminate guesswork, assumptions and can inform decision-making, enabling us to work smarter and more efficiently than ever before.
But how much of their data do businesses actually use? Does the majority become ‘dark data’ lost in the myriad of documents and systems? How do you unlock the data? How do you know where to shine the light on the useful data you have?
There are challenges:
There are a multitude of reasons why much of our data is in the dark. Many organisations have disparate and unintegrated systems and processes, they have cultures that do not give precedence to new ways of working, it can take a lot of time to harness the data, and it requires the relevant expertise in place to interpret the information.
All of which has a financial burden.
Even with all the data extracted and analysed how do you derive real value from it? How do you know which information will give you the insight you need? How do you connect the data to your business strategy and use it to inform your future potential investment strategies?
This is where technology plays a role:
In compliance, it’s mainly about the data! If you don’t have a hold on your data management, you don’t have a hold on compliance and there’s little or no accountability.
Utilising intelligent software gives you back control, which is why The Compliance Workbook was developed. Our platform doesn’t just extract and validate the data, it enables the data to be forensically analysed. It performs calculations, checked against industry standards, to validate compliance, highlighting inconsistencies and risk. Giving you meaningful intelligence presented in a multi-compliance dashboard helps you to visualise your obligations at scale, bringing it out of the dark and placing it exactly where you need it to manage lifecycles, budgets, performance and safety efficiently.
If you don’t improve your operations using the insight which is locked away due to the neglect of data and technology advances you put yourself at a competitive disadvantage. Having an easy-to-understand view of all assets in real-time enables proactive management and accountability.