We all know that making mistakes with data can be costly, however, a recent report has detailed just how costly it has been for supermarkets. Ben Rossi, Information Age, explains in a recent post:
Supermarkets are losing billions of dollars worth of business because of poor data management.
That was the blunt assessment from recent research into product data from ESMT European School of Management and Technology, which looked at the data records of top UK grocery retailers Tesco, Asda, Sainsbury's and Morrisons as part of its global study.
Professor Joe Peppard found that decision-making based on inaccurate numbers damaged the supply chains of these companies, affecting supermarkets globally to the tune of $42 billion.
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