Data proliferation: the recent surge in data created by organisations and their efforts to manage it, is a growing concern. More and more businesses are evaluating their ability to process the large volumes of data they gather daily. Storing these large datasets on secure hardware and cloud networks can be technical and costly, so as data proliferation continues to rise, so too does the need for effective data management solutions.
The power of data
With the increased drive towards data literacy and creating a data-driven culture, it is predicted that those organisations that are “able to make the most progress fastest stand to capture the highest value from data-supported capabilities” (McKinsey).
There are many capabilities around data creation, storage and management. As a precious business asset, data should be nurtured to enable the full potential of its insights. Data management solutions provide certainty in the data your organisation processes, empowering you to make better data-driven decisions. Without a data management policy in place, you may be working with inconsistent or incomplete data that can lead to complexities and inefficiencies within your wider business processes.
Reaching your data management capabilities
Data management is a principle-governed process that allows your organisation to process reliable data as the valuable resource that it is. To achieve effective management of data, a comprehensive data strategy is required that enables you to access, govern, store and analyse your data with ease, starting with how your data is gathered.
At the centre of data management lies data governance, giving your organisation the ability to process, evaluate and correct aspects of your data within its lifecycle.
Data quality
High-quality data is essential for informing the basis of your reports and driving business decisions. By collecting, storing, cleansing and analysing trustworthy data, insights increase, decision-making is better informed, and your business strategy is aligned, generating a wealth of benefits for your organisation. Not only does this increase capacity within your internal team and reduce the time needed to access and analyse data, but the improved quality of your data leads to lower risks, reduced costs and increased operational efficiencies.
Data governance
Data governance reviews and classifies your individual data elements to minimise the chance of sensitive data breaches. By having a designated data expert that ensures your organisation adheres to a data governance policy, you mitigate risks that may arise as a result of GDPR and Data Privacy Acts.
How can data management benefit your organisation?
Well-managed data reveals itself in your overall business performance, but the more immediate benefits of implementing data management solutions include:
Achieving regulatory compliance
Data management increases your organisation’s compliance with government regulations, decreasing the risk of GDPR and security breaches.
Simplified risk management
By making your data simpler to audit and manage, a data management strategy enables your organisation to identify risk profiles sooner.
Expertly-informed decision-making
Having data you can trust expands your reporting capability and enables agile decision-making based on reliable and usable information. The valuable insights you’ll gain into your customers and market will help you to make better business decisions driven by data.
How Dufrain can help
Data can lead your organisation towards success, but having the right tools, technology and architecture won’t make you a truly data-driven business. To unlock your data’s potential, data management is the key. Data should add value to your organisation rather than drain its internal resources. That’s why our expert data management services are designed to provide professional guidance on regulatory best practices.
Dufrain’s data governance services supply large and small organisations with the foundations to ensure their data is trustworthy, high-quality and reliable. With our data quality management services, it’s easy to access quality, trustworthy customer and service data that is key to your organisation and helps you to make data-driven decisions in confidence.
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Use Data Management to tap into your data’s true potential
Dufrain’s experts understand how to precisely manage your data with data management solutions, data quality tools and frameworks tailored to your organisation’s exact requirements.
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