You require clean, reliable data to make the right decisions whether you’re in marketing, sales IT, or a different business function. This is where data management comes into play -and that’s the reason it’s among the top technologies to keep an eye on in the year of 2018.
Data management covers all the disciplines related to treating your data as a valuable asset and ensuring its accuracy, reliability and accessibility. That encompasses everything from data architecture to deploying analytics and data systems, to managing the lifecycle of storage of your business’s data.
A strong data management strategy includes six primary, or core characteristics:
Accuracy: the data should reflect real, world objects and events, and be verifiable using trusted sources.
Completeness — the data must contain all the mandatory information for a specific use case such as sending a message to a client with only their last name.
Consistency — the data should be identical across all data sets and stay that way after being updated or organized.
Accessibility — the information should be easily retrievable for those who need it without compromising compliance requirements.
A data management strategy will only be successful if it is supported by all departments and business divisions. This is especially important because faulty data can result in a negative impact on your company. For instance an IBM study found that poor management of data costs the U.S economy $3.1 trillion annually in lost productivity and expenses related to data https://www.reproworthy.com/business/virtual-data-storage-is-it-time-for-your-company-to-switch-to-the-cloud/ maintenance.