The quantity of information in the world is soaring. Merely keeping up with, and storing new information is difficult enough. Analyzing it, to spot patterns and extract useful information, is harder still. Even so, this data deluge has great potential for good—as long as consumers, companies, and governments make the right choices about when to restrict the flow of data, and when to encourage it. Find out more.
vendor request banking information template
The name of a vendor might be abbreviated in one record but spelled out in another, leading to double-counting. Plainer vanilla Over the past ten years Nestlé has been overhauling its IT system, using SAP software, and improving the quality of its data. This enabled the firm to become more efficient, says Chris Johnson, who led the initiative. For just one ingredient, vanilla, its American operation was able to reduce the number of specifications and use fewer suppliers, saving $30m a year. Overall,