Accurate, precise and complete data...
We talk a lot about data today. We talk about its importance, its impact, and how it can transform a company. But deep down, what is truly useful data ? What makes it a lever, and not an obstacle ? It’s simple : it must be accurate, precise, and complete. Three words that are often used interchangeably, and yet they designate very distinct realities.
Accurate, precise, complete: 3 essential facets of data
Let's start at the beginning:
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Accurate: Data is accurate when it faithfully corresponds to reality. Do you have a referenced instrument in stock? It must be physically present. Accuracy is the assurance that the information corresponds exactly to what is happening on the ground. Without it, everything else collapses.
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Precise: Precision goes further. It is not enough to know that an instrument is there. You need to know what exactly, with a sufficient level of detail to be able to make an informed decision. Know the model, the size, the condition... The more precise the data, the more usable and relevant it is.
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Complete: Complete data is data that leaves nothing to chance. All the important dimensions are present. For example, in instrument management, it is not enough to know that an instrument is available. You need to know if it is usable, in good condition, or in maintenance. It is completeness that allows you to avoid unpleasant surprises.
Accurate, precise and complete data: The key to an efficient organization
These concepts may seem technical, but they have a very concrete impact.
Imagine a messy workshop. You spend more time looking for your tools than using them. You're never sure if you have everything you need at hand. And the job ends up taking twice as long.
This is exactly what happens when your data is inaccurate, inaccurate or incomplete.
On the other hand, when data is well created, well managed, it is like a tidy workshop. Everything is in its place. You know where to look, and you know that the information you have is reliable. Result: less wasted time, faster decisions, improved productivity.
Data as a performance tool: concrete economies of scale
Using data correctly is not just about efficiency. It is also a direct way to achieve economies of scale. Here are some figures to support this idea :
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According to McKinsey, companies that use accurate and complete data increase their productivity by 20 to 25%.
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Gartner estimates that poor data quality costs companies about 15% of their revenue. Improving data quality therefore means not only avoiding losses, but also creating value.
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In the logistics sector, Deloitte calculated that optimizing inventory data could reduce inventory management costs by 10 to 30%.
Conclusion :
Figures that speak for themselves. Data management is no longer a simple option, it is a strategic lever for any organization that wants not only to survive, but to thrive in a competitive environment.
A Tidy Workshop, an Organization That Gains in Performance
Ultimately, creating accurate, precise and complete data is like tidying up your workshop before starting work.
It is an essential step to be productive, avoid errors and optimize your resources.
Jean-Paul Averty
CEO and Founder of InWay SAS