How Can Enterprise Data Management Systems Help Businesses to Survive During COVID-19
The most important and critical asset of every business is its data. During the havoc created due to COVID-19 pandemic, every organization is finding ways to survive its business. Enterprise data management systems can help organizations run their processes smoothly and withstand their business amidst this crisis period.
In response to COVID-19 pandemic, governments, businesses, educational institutions, and almost every common man all over the world is working toward “flattening the curve” of the disease spread. Uncountable people are working persistently to understand as much as possible about the disease. Even though several people are still falling prey to the effects of this deadly disease, losing lives, and facing economic crisis, the efforts to combat this pandemic have proven helpful. The news channels, newspapers, and social media are flooded with news related to the efforts made by scientists and doctors for inventing promising treatments, tests, and vaccines, thus giving hope that an end to this crisis is near and will surely arise.
The outbreak of COVID-19 pandemic has resulted in lockdown of many parts of the world and dramatically altered the lifestyle of people, education systems, and the way businesses function. The pandemic has struck the corporate world so hard that businesses have undergone drastic changes overnight. Businesses and their employees have had to adapt to a new way of working, by adopting work-from-home models. In the course of this pandemic, many businesses have also adopted or are planning to adopt enterprise data management solutions for the smooth functioning of their business processes.
What is Enterprise Data Management?
Enterprise data management (EDM) is the process of managing, implementing, and governing business data. In simple words, EDM is as much about managing people as it is about managing data.
Managing data is all about making sure that your employees have access to accurate and timely data. An EDM tool helps in keeping up the standard format for storing quality data in a secure place. An EDM system collects, consolidates, cleans, prepares, and analyzes data and helps businesses to get timely access to the inputs when required.
Responding to COVID-19
Data management solutions have played a major role in helping businesses survive the impacts of COVID-19 and respond to it. Noticing change and swiftly adapting to it has been a necessity of the era. Responsive strategies and competences to meet the business needs have become extremely important during this crisis period. The pandemic situation has challenged business strategists and data managers to juggle a variety of unique conditions for the upcoming years.
EDM systems are helping during this crisis period by combining cell phone data and geo-location information to trace the travel history of an infected person. These systems have helped government officials for identifying, testing, and isolating different persons who might have been in active contact with infected people. Moreover, these systems are been used to detect super-spreaders i.e. the people who have attended events having a mass gathering and unintentionally stretched the spread of infection.
COVID-19 to Redefine Data Management Strategies
In the face of the emerging pandemic, companies still need to evaluate trends, obtain insights, and make decisions. Business owners need to make better decisions spontaneously and take risks. This requires quality and well-defined data, delivered in time and in substantial sizes. Hence, the demand for enterprise data management systems is predicted to boom at an augmented speed during this crisis period. As per a report by Research Dive, the global enterprise data management market is projected to grow with a healthy growth rate of 10.5% in the upcoming years. This is because the pandemic has altered the functioning of many businesses and thus triggered the need to redefined data management strategies.
Perks of Implementing an Enterprise Data Management System
By making data management a priority, organizations can stay assured that their enterprise data is in a secure place and accessible whenever business users need it. Here are a few benefits of implementing an enterprise data management system in your organization:
- Gets access to high-quality data for precise analysis.
- Merges data over multiple sources and boosts productivity.
- Delivers a consistent data structure that scales with your business.
- Confirms the security and compliance of your data by following guidelines.
By implementing an enterprise data management system, data analysis and other data work will be easier and sorted. Moreover, a well-managed data lineage makes it easier for detecting data dependencies, understanding who is using each data source, and make relevant tables easy to fetch.
Time to Re-evaluate Your Data Management Approaches
There's no doubt that all the current businesses and IT sectors are facing uncertainties as a result of the COVID-19 pandemic. This is not the time to panic, but undoubtedly, it is a good time to re-evaluate data strategies and survive your business by adopting enterprise data management systems.
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