Our culture creates data at an astounding rate just by existing. Every purchase we make, every time we make a call, visit a website, or even something as simple as send an eMail…we add to that ever-expanding mass of information. As members of the business community, we understand that data is a powerful and valuable resource.
This value is perhaps most apparent as a marketing tool, but accurate and reliable data can in fact benefit all aspects of an organization. How can your company realize the benefits of its data resources?
Data management is sometimes called information management. Many components go into data management, including:
- Defining the quality of data metrics
- Analyzing and profiling the quality of data
- Auditing and certifying the levels of data quality
- Cleansing data on the front and back ends
- Identifying requirements for data quality
- Meeting source system requirements
The relationship between data governance and decision-making is no longer relegated to IT teams or select committees. Instead, every part of the business is affected by data and every part of the business creates data. This relationship is perhaps most apparent when we look at the various departments involved in entity management. At it’s core, the right entity management software should make manage data within your organization streamlined, not overly complicated and accessible. After all, data that can’t be leveraged when needed does not benefit the organization overall.