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The State of Data: Perceptions and Realities

[fa icon="calendar'] Sep 10, 2018 8:00:00 AM / by Erika Cole posted in data analysis, big data, data mining, data science, innovation, charities, small data, charitable, leadership

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There’s a lot of movement in both for profit and nonprofit organizations. Trends across all sectors demand that institutions must go digital in order to survive and grow. This has led to the collection of (at times) massive amounts of data which these companies can use to their advantage. These datasets, in turn, have become the cornerstone for implementing the more forward thinking and innovative strategies you see amongst the most successful companies in the world.

Businesses have always been collecting information on their customers and prospects. The difference today is the rate and quantity of information that is attainable. With several automation services in place, and the option to purchase augmented datasets or behavioural data on the table, companies may find themselves with more information than they know what to do with, and data, rather quickly, multiplies to the point of becoming unmanageable.

As nonprofits evolve from more traditional methods to implementing a data-driven strategy, they require certain tools necessary to manage their databases similar to their for-profit counterparts; however, many of them are still under the impression that they may not be in a place for the kind of digital advancement they’re hoping to achieve.

Industry leaders realize that while striving for better data is important, striving for perfect data is impossible.

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