Does technology = good data?

The Technology and Data Relationship

Technology is part of everyday business life, but when it comes to marketing procurement, does implementing new technology automatically lead to better data? The answer is more complicated than a simple yes or no.

Many organizations invest heavily in procurement technology platforms with the expectation that good data will naturally follow. However, technology is only as effective as the strategies and processes that support it.

Common Data Challenges in Procurement

Despite technological advances, procurement teams often struggle with:

• Data Silos: Information trapped in different systems that don't communicate
• Poor Data Quality: Inconsistent, incomplete, or inaccurate information
• Limited Analysis: Difficulty translating raw data into actionable insights
• User Adoption: Resistance to new systems leading to incomplete data capture
• Lack of Standardization: Inconsistent processes that produce incomparable data

Bridging the Gap Between Technology and Good Data

To ensure your technology investments deliver valuable data:

1. Start with clear objectives about what data you need and why
2. Design processes that make data capture simple and integral to workflows
3. Implement data governance frameworks that maintain quality and consistency
4. Invest in training to ensure proper system usage and data entry
5. Regularly audit your data quality and refine collection methods

Technology provides the foundation for good data, but it requires thoughtful implementation, ongoing management, and a data-focused culture to deliver meaningful insights that drive procurement excellence.