information & data Management
Bad data is bad for business. Inaccurate data can undermine an organizations ability to provide an excellent customer experience. Erroneous and incomplete data can hinder the process of decision making which can impact the growth of your organization.
Organizational leaders now realize the importance of using high-quality data to drive success. To meet these expectations, organizations turn to Information and Data Management.
what is information management?
Information Management is an organizational program that manages the people, processes and technology that provide control over the structure, processing, delivery and usage of information required for management and business intelligence purposes.
what is data management?
Data Management is a subset of Information Management. It comprises all disciplines related to managing data as a valuable, organizational resource. Specifically, it’s the process of creating, obtaining, transforming, sharing, protecting, documenting and preserving data.
WHY WOULD YOU BE INTERESTED IN information & DATA MANAGEMENT?
Organizations continue to face issues with data as they grow. They spend a huge amount of resources to prepare data and gain insights. Executives believe that preparing data for insights ultimately costs their business in terms of resources and efficiency. All of these resources go to waste if the prepared data is erroneous.
Similarly, there are other data related challenges that may compel you to develop an information and data management strategy. They are:
Authenticity of data manipulation
Lack of cross-domain relationships
Inconsistent data across the value chain
Lack of process orchestration & data governance
You can overcome these challenges by managing your data as it synchronizes all systems to keep your data clean and consistent across the organization.
Key benefits of a Data management system
Increases trust in your data
Connects everything & anything
Increases accountability of your data
Helps understand your customer better
Provides a unified view of your data assets
Provides seamless information across multiple channels
As organizations grow organically or through acquisitions, they often struggle with ensuring a single view of truth across their data. This happens primarily owing to manual data management, lax controls, multiple systems and lack of an integrated approach to data management.
A feature-rich data management system helps you to create one single master reference source for all business-critical data, leading to fewer errors and less redundancy in business processes.