Data Management – An Introduction.
As businesses grow and expand, and the amount of data stored increases rapidly, it becomes more and more important to manage that asset. In this article, InforData’s regular author gives an introduction to data management and its key components.
Data management is made up of several complimentary parts and to implement a strategy that delivers an integrated, complete solution organisations need to take into account all of the following
- Data Governance
- Data Integration
- Data Migration
- Data Quality
- ETL (Extract Transform Load)
- Business Intelligence and Performance Management
Each of these areas has equal import and should be part of the overall data management strategy. Bolted on to these strategies are 3 other key considerations, People, Process and Technology. Together these parts make up the whole life-cycle of Data or Information Management. Understanding each of these components and how they fit together however is more complex. Software can cover off several of the pillars of Data Management, some products will fulfil the requirements in more than one area. In addition a review and clear understanding of business processes will also allow for streamlining and consolidation.
When starting out on a Data Management strategy there are some key areas that need to be reviewed
- Internal Resource and skills
- Current processes and deliverables
- Desired processes and deliverables
- Systems and software
All of these elements can streamline and consolidate your Data Management activities, resulting in a more effective way of working, better quality data, cost efficiencies and more robust decision making, all vital in today’s market.
And it is these factors and the associated benefits that build your business case. On the surface, Data Management is boring, and just a bit of a nuisance, but in reality it is imperative to the smooth running of a business and a support for continued growth. There are few senior managers who are disinterested in both of these things!
External advice and help building a business case can be invaluable, putting in place robust data governance for example, can help future-proof the investment made by the business, keeping data in a state that is acceptable and useful for the business. Information from analysts can help prove the ROI of this type of project, as a rule of thumb an investment made in a Data Strategy will pay itself back in 12-18months and continue to make improvements to the bottom line for the subsequent years.
Whatever route you choose to take for your initial Data Management discovery project, InforData Consulting can help, with either part of, or all of the cycle. Practically or in and advisory capacity, we can point you in the right direction and provide information that will help ensure your Data Management programme is a success.