Data Management is One of the Top Technology Trends to Watch in 2018 Leave a comment

You require accurate, clean data to make decisions whether you’re in sales, marketing, IT, or another business function. This is where data management comes in -which is why it’s one of the most important technological trends to keep an eye on in the year of 2018.

Data management is the discipline that covers all disciplines related to the management of data as a valuable asset and ensuring its accuracy and security. This includes everything from data management to governing your company’s data storage lifecycle.

A solid data management plan includes six primary attributes or fundamental attributes:

Accuracy – The data must reflect actual, live objects and events and be verifiable using trusted sources.

Completeness — The data must include all the mandatory values such as sending an email to a customer with their last name only.

Consistency Data should remain consistent across every data set and remain that way even when changed or modified.

Accessibility – data should be readily retrievable by those who need them, without the risk of compromising the compliance standards.

A data management plan can only be successful if it is supported by all departments and business areas. This is crucial because the consequences of inaccurate data can be expensive for your business. For example an IBM study estimated that ineffective data management costs the U.S economy $3.1 trillion each year in lost productivity as well as the costs associated with data maintenance.

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