You need clean, reliable data to make the right decisions regardless of whether you’re in marketing, sales IT, or another business function. This is where good data management comes in -and that’s the reason it’s one of the top technology trends to watch in the year 2018.
Data management is a broad term that covers all areas involved in treating your data as an important asset, and ensuring its accuracy, reliability and accessibility. This covers everything from data structure to deploying analytics and data systems, to managing the lifecycle of storage of your company’s information.
A solid data management strategy consists of six essential, or core, characteristics:
Accuracy — the data should reflect real-world objects or events, and must be verified using reliable sources.
Completeness — the data must include all values that are required for a specific use case such as sending a message to a customer only with their last name.
Consistency – the data must be consistent across all sets of data, and remain that way after being updated or reorganized.
Accessibility — the information can be easily retrieved by those who require it, without compromising compliance requirements.
A data management strategy is only effective when all departments and business units are on board. This is crucial because the consequences of inaccurate data can be devastating to your organization. IBM estimates that poor data handling costs the U.S. economy $3.1 trillion annually in avast vs malwarebytes pro lost productivity and costs associated with maintaining data.
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