K
Kathleen Martin
Guest
Today, we are seeing a burgeoning task among organizations. This task is around adopting, integrating, and managing enterprise data that is constantly moving through their systems; needless to say, the quantum, of which is rising in leaps and bounds.
Business CXOs can leverage this data ecosystem and gain a huge competitive advantage. However, the study suggests that most business leaders do not have their data arranged and managed properly and effectively. According to the 2018 Global Data Benchmark Report, published by Experian, organizations in the United States believe that 33% of their customer data is having some of the other inaccuracies. This is disastrous because poor data quality can negatively impact everything – right from business intelligence resulting in wrong decisions to the productivity of employees (as it creates duplicity of tasks resulting in loss of time).
What is enterprise data management?
Enterprise data management is a process of managing, monitoring, and storing enterprise-wide data and most importantly, getting the entire organization on board with the process. To put it simply, while EDM is about managing data, it is also equally critical about managing people. Data management is nothing but ensuring that people in the organization have accurate and timely data as and when they require it. Furthermore, they should also ensure that the data is stored in a standardized, and secured place.
Why is enterprise data management important?
Enterprise data management is important because it delivers a highly standardized and streamlined system to organizations. Through this system, companies can search, manage, access, store and secure their data. Enterprise data management also ensures that companies can easily find and analyze the data for their internal analysis and thereby take well-informed decisions and define strategies around these decisions.
Enterprise data management use cases
Effective EDM helps organizations to transfer data to other business applications, processes, and users with relative ease. Having achieved this results in significant improvement in operational efficiency and efficacy.
Moreover, enterprise data management also delivers an internal benefit to organizations in the form of cutting down the time spent on new data regulation. Effective EDM also helps in managing and controlling any sort of changes or fluctuations in assets. This strengthens the trust in overall policy across the organization.
An EDM helps companies to:
Business CXOs can leverage this data ecosystem and gain a huge competitive advantage. However, the study suggests that most business leaders do not have their data arranged and managed properly and effectively. According to the 2018 Global Data Benchmark Report, published by Experian, organizations in the United States believe that 33% of their customer data is having some of the other inaccuracies. This is disastrous because poor data quality can negatively impact everything – right from business intelligence resulting in wrong decisions to the productivity of employees (as it creates duplicity of tasks resulting in loss of time).
What is enterprise data management?
Enterprise data management is a process of managing, monitoring, and storing enterprise-wide data and most importantly, getting the entire organization on board with the process. To put it simply, while EDM is about managing data, it is also equally critical about managing people. Data management is nothing but ensuring that people in the organization have accurate and timely data as and when they require it. Furthermore, they should also ensure that the data is stored in a standardized, and secured place.
Why is enterprise data management important?
Enterprise data management is important because it delivers a highly standardized and streamlined system to organizations. Through this system, companies can search, manage, access, store and secure their data. Enterprise data management also ensures that companies can easily find and analyze the data for their internal analysis and thereby take well-informed decisions and define strategies around these decisions.
Enterprise data management use cases
Effective EDM helps organizations to transfer data to other business applications, processes, and users with relative ease. Having achieved this results in significant improvement in operational efficiency and efficacy.
Moreover, enterprise data management also delivers an internal benefit to organizations in the form of cutting down the time spent on new data regulation. Effective EDM also helps in managing and controlling any sort of changes or fluctuations in assets. This strengthens the trust in overall policy across the organization.
An EDM helps companies to:
- Store, search, use and analyze data
- Take well-informed decisions across the organization
- Prepare for the future
- Streamline processes
- Improve efficiency and efficacy of functioning of users
- Re-enforce trust
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To sum up, enterprise data management ensures the storage of accurate and accessible data, but in a secure way.
Continue reading: https://www.techfunnel.com/information-technology/enterprise-data-management/
