Data Management can be defined as the practice of collecting, maintaining, and using data securely and efficiently. Currently, everything we do on the internet is recorded. Here comes the concept of big data, a huge amount of digital information to be used. Within this context, it is necessary to pay attention to Data Management.
Data Management is a very valuable tool for organizations because its benefits can make a difference in the competition. We can grow business with Data Management.
Therefore, in this article, we will explain the main concepts on the topic based on the following topics:
– What is Data Management?
– How to carry out data management?
– How important is it to do Data Management?
Ready to learn more about this subject? Let’s start!
What is Data Management?
Data Management is the process of processing information collected and created by an organization. It involves the practices of collection, storage, organization, processing, validation, supply, and appropriate use of data. These different functions work together to ensure that information from an enterprise system is accurate, available, and accessible. The objective of this process is to assist in decision-making by organizations or individuals, by optimizing the use of information within ethical and legal limits. It enables deeper knowledge about consumer behavior, trends, and opportunities. This way, it is possible to take the actions that are most beneficial to the organization.
How to carry out data management?
Different methods can be used when planning Data Management, but the following topics can guide you with the necessary basics:
– Find a good place (cloud) to store all your data and make a first diagnosis;
– Always have a backup of all your information, thus avoiding ransomware;
– Create a team responsible for collecting and analyzing data from all sectors of the company;
– Train the team according to demand!
Data management components
Here we have one of the most important parts to properly deal with the gigantic amount of accumulated information. From this perspective, we can identify 3 priority components in a data strategy:
Security
Good data management is capable of protecting the company from misuse and cyber attacks, preventing data from falling into the wrong hands and harming the company. This is beneficial both for preserving company strategies and for customer safety. A very recent example of this importance is the Facebook-Cambridge Analytica scandal, in which information about 87 million users of the social network was breached. The company underwent a severe investigation and several lawsuits in different countries.
Optimize and Process
Data Management provides an information structure that can be easily accessed and shared among employees. This allows them to validate each other’s results and conclusions, increasing the reliability of decisions. An informative database can optimize various processes and prevent the loss of vital information for the company. Furthermore, they need to be processed and compressed to be used, multiple formatting and corrections are required, which creates possibilities for revisiting this data for comparative analysis. This way, it is possible to measure the impact and effectiveness of a given action for the company.
Storage
When talking about managing data and information, the organization’s storage method is one of the main objectives. Companies are increasingly dealing with huge volumes of data, which often enter the system without any criteria and become piled up.
How important is it to do Data Management?
A Data Management strategy is essential, as we live in a time where companies seek to incorporate features that are not material to add value to their products. Let’s see some reasons to adopt this practice:
- Reduce costs
Data Management enables more assertive attitudes. This way, having the correct information, you will know exactly which audience you need to reach and how to do it. Furthermore, the information stored can be used as a reference in the future. This way, employees don’t need to waste time doing the same searches again, avoiding unnecessary duplication.
- Increase operational efficiency
Good Data Management also allows companies to deal better and faster with the different factors that influence them. In other words, organizations can better respond to market changes, reacting appropriately and remaining competitive. This is a crucial factor in the company’s success. By making information available to employees, they can be more aware of changes. This way, the company can make quick decisions and actions.
- Agility
Still in this sense, we gained a lot of agility by implementing a structured Data Management system. The organization of information, facilitating access, and validation contribute essential to the company’s efficiency. This makes people’s work easier, improving team productivity. Employees will not spend as much time finding data, understanding it, and passing it on, increasing the agility of information exchange.
- Improve processes
Let’s think about the following example: a marketing analyst needs the traffic history on a certain product page to determine whether the advertising production of content is eye-catching and generates clicks. Firstly, this would be impossible if the company did not collect this data. If you did, but did not filter and organize them, the professional would have to dive into the costly and time-consuming task of searching for this information. Data Management facilitates all of this, shortening and refining processes.
- Improve decision making
Good data management helps ensure that all professionals view and analyze the latest information. This ensures that the company will make the most accurate decision, based on the highest quality data.
After all, in a company without this structure, employees can use different sources of information to perform a task or make a decision. This can lead to inaccurate or wrong conclusions, affecting the entire company and its efficiency. That’s why Data Management is very important and must be there!
