If you’re in the field of marketing, sales, IT, or any other business area, you have to have access reliable, accurate data to inform your decisions. This is where effective data management comes in — and that’s why it’s one of the top technologies to keep an eye on in 2018.
Data management encompasses all disciplines associated with treating your data as a valuable asset, and making sure that it is accurate, reliable and accessibility. This encompasses everything from data architecture to the implementation of data and analytics systems to managing the storage lifecycle of your enterprise’s information.
A sound data management strategy includes six fundamental attributes or the six core attributes:
Accuracy – the information should reflect real, world objects and events and be verified by trusted sources.
Completeness — the data must contain all necessary values for a use case such as sending a mailer to a client with only their last name.
Consistency — the https://www.reproworthy.com/business/virtual-data-storage-is-it-time-for-your-company-to-switch-to-the-cloud/ data must remain consistent throughout all data sets, and remain the same despite being updated or modified.
Accessibility — the information should be easily retrievable for those who require it, without compromising compliance requirements.
A data management strategy will only be effective if it’s supported by all departments and areas of business. This is particularly important because the impact of bad data could be costly for your company. For instance, an IBM study estimated that ineffective data management costs the U.S economy $3.1 trillion per year in lost productivity as well as the costs related to data maintenance.