“If we could do this somehow create a value [for data] that we could actually put on a company’s balance sheet, that would draw a lot of attention and senior executive focus.”
Procurement can no longer turn a blind eye to bad data. If we are going to leverage our data for advanced applications such as AI, machine learning, RPA, etc. we have to address data quality now – without spending more time or allowing it to become more fragmented.
Joe Yacura is a former CPO of organizations such as Fannie Mae, Bank of America and American Express, and is the co-author of the 3rd Annual Data Quality and Governance Study in partnership with Dr Rob Handfield and the Supply Chain Resource Cooperative (SCRC) at NC State.
In this podcast, which is based on an AOP Live session made possible by Ivalua, Joe provides insight on data quality-related topics such as:
- [10:46] Today’s data challenge is not just a matter of quality, it is also a matter of time. This year’s survey respondents said they spend 25% of the time looking for data, compared to 16% in 2018.
- [15:06] The importance of ensuring data normalization by leveraging enterprise governance tools such as a ‘data dictionary.’
- [33:30] Data quality is an enterprise-wide problem, and, as such, any sustainable solution has to be cross-functional. Procurement should work with any other team in the company that has access to significant data.
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Links & Resources
- Joe Yacura on LinkedIn.
- 2019 Supply Chain Data Quality and Governance Study (on Ivalua)
- AOP Live Webinar: Mastering the Supply Chain Data Challenge
- Practitioners: get 25% off any ProcureCon North America ticket