Written by Tamr
A new article by Tamr Co-Founder and CEO Andy Palmer published in Dataconomy today reflects on a question he was once asked Android Co-Founder Rich Miner: “What if companies managed their data as carefully as they manage their money?” Palmer outlines his thoughts based on 25 years of experience in both the tech and financial sides of the house.
Palmer points out that while frameworks for accounting and managing financial assets have been around for centuries, most Fortune 1000 companies have treated data essentially like “exhaust” instead of “fuel for growth” for several decades. According to Palmer, many companies have made the mental switch and “see the transformational power of data and analytics: use it as a strategic weapon.” As one example he cites, GE, achieved tens of millions of dollars in savings from supplier integration work done with Tamr.
Palmer concludes by saying these “enlightened” companies are the answer to the question of what happens when companies manage data as carefully as they manage their money.