Whether you’re in marketing, sales, IT or another business function, you need to have access to reliable, accurate data to inform your decisions. That’s where good data management comes in — and that’s why it’s one of the top technologies to keep an eye on in the year of 2018.
Data management is the discipline that encompasses all disciplines relating to treating data as a valuable asset and ensuring its accuracy and reliability. This covers everything from data management to managing your company’s data storage lifecycle.
A strong data management strategy includes six fundamental, or core, attributes:
Accuracy – the data should be based on real world objects and events. It should also be verified by trusted sources.
Completeness — The information must include all the mandatory values for example, sending an email to a client using only their last names.
Consistency: the data should be identical across all data sets, and remain that way whenever it is updated or changed.
Accessibility – data should be easily accessible to those who need them without the risk of compromising the standards of compliance.
A data management strategy will only be effective if it’s supported by all departments and business units. This is crucial because the impact of bad data can be devastating to your business. IBM estimates that poor handling of data costs the U.S. economy $3.1 trillion each year in lost productivity, as well as costs associated with maintaining data.
https://www.reproworthy.com/business/3-enterprise-software-that-changes-the-way-of-data-management/