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Digital transformation (DX) often begins with data standardization, or the process of converting all various data sets into one consistent format. It’s not exciting but it’s true. Want to have comprehensive insight into your organization? Standardize your data. Think it would be innovative to project hologram digital twins of your machinery working in real time for any location? Standardize your data. Need to reduce costs across supply chain and maintenance cycles without time-consuming audits? You get the idea.
Information is power, but that power can be illusionary without proper context. For example, say you’re overseeing the global rollout of a new car. This car sells 5 million units within the first 12 months. Sounds fantastic, right? Well, what if every other active car, including older models, in your organization sold 7 million units over the same period? Also, what if 93% of those 5 million units came from only one region? Oh, and 54% of those were returned and refunded within the first three months after the sale. Context is everything, and clear context is only possible when the data is ready, available, and reliable – in other words – standardized.