DATA MANAGEMENT: What You Need to Know and Why [OG Partner]
Data management has been around for a long time. Understand the basics and you’ll know a lot more about what it will take to overcome any given data project or challenge you’re contemplating.
For starters, try not to think about computers or technology. Though those things are an obvious part of the answer, managing information no longer centers on the ability to store and process or to create and delete data. Think instead about the users of and uses for information. Managing information is most essentially about supporting better decisions. It is about delivering value from the islands and ecosystems of data that can support business processes and new opportunities for analysis.
It doesn’t mean we can set sail without a compass or anchor. In order to add value, effectively managed information has always needed to arrive in context and in a proper form for decision support and analysis. It must come to the user in a way that is defined and consistent, integrated and interwoven across multiple sources, aligned and synchronized. These attributes are the core processes of data management common to just about every data-driven project.
The essential building blocks of data management that every business manager ought to know include:
- • Master Data Management
- • Data Governance
- • Data Quality
- • Data Integration and
- • Data Federation