Data management is the practice of gathering, storing and using data securely, efficiently and cost-effectively.
The goal of data management is to enable the people, organization and connected systems optimise the use of that data, within bounds of policy and regulation, to make decisions and carry out proactive efforts that can benefit the organization. And do that based data that is timely and lives up to the six dimensions of data quality.
A sound data management strategy is more important than ever for data-driven businesses to enable their organisation to make decisions on as close to complete information as possible. Many companies struggle with lacking trust to data and reports - this is, among other things, one of the purposes of a data management strategy.
Data management is thereby way an organization treats their data by implementing policies, procedures and deciding on the architectural design. Common themes within data management is;
Businesses today are challenged by the everincreasing amount of data and faster pace of business that demands for the ability to act agile and with efficiency. Data that are increasing in variety, velocity and volume is pushing the organisation and makes it impossible to keep up without effective data management tools.
Some of the top challenges organizations face include:
Lack of data insight - No data is useful if the organization does not know what data it has and where it is or even how to use it. Data management solutions need measure and ability to deliver meaningful and timely insights.
Difficulty complying with changing data-requirements - Legal requirements and regulations for data management is increasingly complex and multi-jurisdictional and changes often.
Challenges with easily integrating and process data - The increasing number of systems and platforms a modern business uses today complicates the process of connecting, integrating and processing data.
The challenge of the increasing demand for data self-service - business users are demanding self-service in order to make decisions faster, but this makes IT and BI CoE(Center of excellence) a bottleneck in many organisations.
The challenges of proving the value of data management - Many businesses who fail to establish effective data management organisations are failing to communicate and proving the value of the data management efforts.
Read more about exMon Data Management platform and some of the features to continuously monitor data and your data quality. When you succeed to understand the role of data management you will be able to increase efficiency in business processes and make faster decisions on better data - this will lead to a better bottomline where you undeniably will decrease your cost of doing business (COB).
Other examples of the use of exMon is that it allows you to natively integrate with more than 150 data sources that are common in business today.
We have interviewed 3 of our clients; Marel, Valitor and Ölgerdin. They walk you through how they have succeed to benefit from better data management, how to develop and implement a data management strategy. Furthermore, we have gathered a list for how to succeed with your data management project in the exploration for better data and increased trust in data within your organisation.
The exploration for better data - a guide to succeed with your data management project including 3 real-life cases and examples of specific initiatives and use-cases of exMon.