Significance of Data Entry Operations for Business Organizations

Feeding data into the computer, tasks as such may not carry much weight if seen casually, but data entry operations do have a significant role in managing the complete operations of business organizations.

The Data Matters, why?

Because, the modern business world is run by organizations making smarter decisions, where the data stored will be analyzed and utilized for decision-making purposes.

The data may not be of much help in day-to-day operations but is quite useful if organizations are setting objectives for the business.

You might have heard about the word ‘big data’, well something about it tells that we have something big in our hands.

There is nothing about ‘big data’ that should overwhelm us. It is just data collected over years. For instance, Facebook or take any social media platform that has so much data about the users, which will be eventually utilized for making data-driven business decisions.

Stats & Facts

• According to Helical IT survey, the chances that an organization will succeed in its business decision is 79% higher if the decision made is based on the data over their instincts.
• Better data management leads to improved organizational efficiency.
• Inaccurate processing of data can be overburdening the organization’s resources.

Challenges Faced in Data-Entry Operations

We know the significance, still against the speed and accuracy, the two pillars of a perfect data entry operation laid few challenges that are faced by every organization.

• High Error Rate
  • Simple copy-paste, or documents linking, or drag and drop when performed manually there is a high chance to witness potential errors.
  • Even though data is a small slice of an organization, it is required to give a complete value-added appearance. The error rate can be suitably reduced through effective data management.
  • Various data management tools are available, which can be utilized to maintain the data quality efficiently.
• The Data Quality
  • Even performing a data entry task may seem challenging at times.
  • The probability that a quality analyst will find accurate values when it is concerned to complex fields is very less.
  • Most of the time they may come across default values or meaningless substitutes, which can be truly taxing to analyze if the data is very large.
  • Through simplifying the fields, an organization can reduce the complexity rate thereby minimizing the rate of errors.
• Influx of Data
  • Not every organization can afford a team of professionals to handle their business data entry processes. The data entry operations may seem simple but can be taxing if huge volumes are involved.
  • If you are doing (any) business, things can be pretty much unpredictable, and why not just the data entry task?
  • By utilizing advanced tools and technologies, organizations can clearly deal with a huge volume of data, and keep away from the disruption caused by inaccurate data.

How to Improve Efficiency of Data Entry Operations?

• Realizing the Importance of Data
  • As a part of the organization, it is not just sufficient if you alone understand the importance of data. Every employee who is into this task should be realized about the significance of maintaining accuracy of data.
• Find the source of data inaccuracies
  • If organizations can identify the cause of data inaccuracy, it would be much easier to address the issues.
• Use Advanced Software Tools
  • The potential of data entry inaccuracies will always be there until organizations switch from actual human resource to software for such operations.
  • Transcription errors and transposition errors are the most common data entry errors that are found. Even though the errors look undisruptive, the consequences will be severe.
  • So organizations can utilize tools that operate on intelligent character recognition (ICR) and optical character recognition (OCR) technology.
• Follow Data Entry Accuracy Standards
  • Data matching, monitoring, linking, data profiling and geocoding are some of the data entry accuracy standards, which should be clearly adopted by every organization to maintain and improve data quality.
• Automated Error Reports
  • Report automation tool is the best way to detect manual errors in less time. You can easily schedule reports daily, weekly, or monthly as per your convenience and requirement.