October 17th, 2023
Author: Simon Schaffer
Data Management is One of the Top Technology Trends to Watch in 2018
No matter if you’re in sales, marketing sales, IT or another business function, you need to be able to access accurate, reliable data to make your decisions. This is where effective data management comes into playand it’s the reason it’s a top trend in technology to watch in 2018.
Data management covers all the disciplines related to treating your data as a valuable asset, and ensure its accuracy, reliability and accessibility. This includes everything from data design to the deployment of analytics and data systems, to managing the storage lifecycle of your company’s data.
A well-designed strategy for managing data includes six core, or primary, attributes:
Accuracy — the data should reflect real-time objects as well as events, and be verified using reliable sources.
Completeness — the data must contain all necessary values to be used in a specific scenario such as sending a mailer to a customer with only their last name.
Consistency — the data should remain consistent across all data sets and stay the same even after being changed or modified.
Accessibility – the data should be easily accessible to those who require them without violating the compliance standards.
A plan for managing data is only effective only if all departments and units are all on board. This is especially crucial since the impact of bad data could be costly web for your business. IBM estimated that inefficient handling of data costs the U.S. economy $3.1 trillion annually in lost productivity, and the costs associated with maintaining data.
The utopian dreams of Russian-style cybernetic communism could only be turned into everyday reality within the made-in-the-USA global village.
