Data management is not something new for us. In fact, as human beings, we have used it for a long time to detect dangers, solve problems and invent new ways to make our lives more comfortable.
Collecting and using data intelligently has helped us not only to survive but also to develop as a civilization because the information has always been one of our most valuable resources.
In business, the story is no different. The data that organizations handle, well managed, can contribute to the creation of better strategies, the early detection of risks, the optimization of customer satisfaction and many other things.
Of course, given the large volume of information companies must handle, it’s normal that managing them properly may seem like a challenge.
That’s why we decided to create this article where we talk about some of the best practices that exist for data management. Want to know more? Read on and discover them all.
What is Data Management?
Internet access, the integration of applications for different uses and phenomena such as IoT have contributed to the exponential increase in the amount of data that companies receive.
As a consequence, organizations have had to look for new tools and strategies that allow them to exploit these new sources of information. In this context, it was that Data Management became a key process for companies.
Data management is in charge of designing and implementing the necessary processes to collect, store, use and correctly protect an organization’s data throughout its entire life cycle.
Advantages of Data Management
Good data management can help optimize the performance of all company departments. Among its advantages we can mention that:
- It allows you to take advantage of financial information to make better decisions in this area.
- It contributes to the early identification of risks and favors the creation of better data protection strategies.
- Helps marketing teams get to know customers better to increase customer satisfaction and loyalty.
- Ensures compliance with data security regulations.
- Facilitates the reduction of costs of application’s acquisition and implementation.
- It provides greater agility and speed of response to members of the company.
The Importance of Data Quality
You can’t take advantage of the information your systems host if it’s not of quality. In order for data to be useful, it must meet certain standards to ensure that it is valuable.
That’s why it’s important to establish a strategy that allows you to identify those data that have the required quality. Some criteria to identify them are the following:
Integrity: indicates whether the data collected are sufficient to draw conclusions.
Consistency: ensures that data from all systems in an organization are synchronized and reflect the same information.
Accuracy: this implies that the data collected represents exactly what it should be.
Punctuality: this means that the data is always available to facilitate decision-making.
Validity: Indicates whether the data meets the standards or criteria defined by the data management team.
5 Best Practices for Good Data Management
#1 Define your goals
Data management must be geared to the achievement of clear objectives. As we said before, not all the data your company manages is useful. In order to take advantage of those that can provide you with real value, it is important that you define the objectives that you want to achieve with your data management strategy.
So ask yourself: Why do you collect data? In which specific areas do you want to take advantage of data management? How can you evaluate whether data management is being carried out correctly?
The definition of objectives will allow your company to know where they are going, how to improve management and, above all, it will allow you to understand how you can approach this process to improve the performance of the company.
#2 Measure the quality of your current data
Use the above criteria to determine the quality of your data. The idea is to know better the type of information that is in the company’s systems and then do a “cleaning” to eliminate duplicate or useless data and better organize those that are valuable.
Give enough importance to this practice. Adopting a data quality culture will help protect the security and integrity of your data and will preserve its value.
#3 Prioritize security
Don’t forget to make regular backups of your database to avoid the risk of losing them. Limit administrator access to sensitive data. For this you can implement strategies such as password protection, encryption or even biometric systems. Regular audits will also allow you to detect any anomalies in your database.
#4 Constantly Monitor
The data changes continuously. Periodic monitoring is necessary to prevent them from becoming inaccurate. This will allow you to identify information that is still valid, information that is not, use workflows to maintain data quality, and detect and correct erroneous data.
#5 Use the right tools
Manually managing your company’s data can be very difficult if not impossible. That’s why it’s vital that you integrate into your system’s tools that allow you to manage your data easily and that guarantee at the same time, that they will always be safe.
The CRM and ITSM solutions are excellent for data collection and management, do not hesitate to use this type of software to optimize the way information is handled in your company.
Another indispensable tool is a data security application. Cybercriminals are always looking for new ways to access corporate systems. Stay prevented and protected with the help of security software.
If you want to simplify the search for these solutions just contact us. At GB Advisors we have everything you need to optimize your IT inventory in one place. In addition, we offer professional advice in your step by step, so you can get the most out of your tools.
Did you find this information useful? You can also download a short pdf guide with this information here: