Struggling to manage the data in your organization? The integration and management of data is a major issue faced by almost every organization. Here the data may be everything and anything from the currency that drives business to the data related to employees, products, and business processes.
Data ecosystems are a great weapon for business leaders when it comes to gain a competitive edge over others, but research says that majority of the leaders do not have their data sets organized. As per Experian’s 2018 Global Data Benchmark Report, the companies in the U.S. consider around 33% of their prospect and customer data to be inaccurate in some or the other way. Whereas, a UK article reveals that around 85% of organizations are working on records that have nearly 10% to 40% inaccurate information. When the quality of the data is not up to the mark it disturbs everything from the productivity of employees to analytics and business intelligence, and results in wastage of time due to rework and poor communications. To tackle this issue, implementation of a holistic enterprise data management plan is the ideal option.
What is enterprise data management?
Enterprise data management can be defined as ability of an organization to accurately define, effortlessly integrate, and efficiently access the data for internal applications as well as external communications. It is a system that is targeted toward creating consistent, accurate, and transparent content. The main purpose of this system is to eradicate all the organizational errors and issues that are likely to arise due to the bungling and mishandling of data and information. This system implements a structured data delivery plan—from data creator to data consumer.
Enterprise data management system consists of computing and network set-ups, software applications, business logic and strategies for managing the flow of an organization’s data. For efficient data management, an organization has to implement an enterprise data management system through a variety of processes and has to collaborate through different sectors like finance, IT, HR, and other operations.
Benefits of implementing an enterprise data management system
The management of data should be a priority for every organization. When you have a good enterprise data management system implemented, it ensures that your data is in a secure state and is easily accessible whenever your 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 exact analysis.
• Ensures the security and compliance of your data by following guidelines.
• Consolidates data over multiple sources and increases productivity.
• Provides a consistent data structure that scales with your organization.
In addition, a well-controlled data integration makes it easier for business users to quickly understand data dependencies, identify the users of each data source, and make relevant tables more manageable and accessible.
Enterprise data management is as much about handling people as it is about handling data. Data analysis and other work related to data is expected to be more efficient because of growing inventions and advances in the enterprise data management industry. Currently, there are various data management solutions available in the market that can provide you all of these benefits.
The bottom line
The growing pressure to implement enterprise data management systems is not due to a fad or mob mentality. There are real operational needs at this moment that should be addressed and taken care of. And one among these is the serious need to make data available and convenient for use. Companies must make themselves capable of putting their data to work on empowering efficiencies, fueling decisions, and shaping the company’s growth.
So, why delay in adopting something that can be beneficial and completely change the future face of your company? It’s now time to transform your organization with timely, relevant, and trustworthy data.