In today’s increasingly digital world, the amount of data generated by companies is enormous. But between growing social media and mobile presence, and the mass exodus of enterprise functions to the cloud, it’s not just that more data is being created—it’s that new kinds of data are being created as well. All of this information can have a major impact on the success of an organization and its IT strategies, but only if that organization understands how to handle the data and interpret it intelligently. This is where a data management plan comes into play.
Data management refers to the development, execution and supervision of plans, policies, programs and practices that control, protect, deliver and enhance the value of data and information assets, according to the DAMA Data Management Body of Knowledge. In the world of enterprise business, it essentially is the way in which an organization handles, organizes, and makes use of the data it generates. Because the term data management can be so broad, it is generally broken down into three main categories to help address all aspects of it thoroughly and effectively.
Data Quality
Ensuring data quality is the first step to a solid data management plan. It entails all the steps taken by an organization to get data “business ready”—or, in other words, is the process by which an organization makes sure that all of the data being fed into the system is accurate, avoids redundancy, and is going to the right place at the right time. Without guaranteeing the accuracy of information, an organization cannot make proper use of its data. It could lead to incorrect assumptions about customer trends or the successes and weaknesses in operations, for example.
Data Migration
Data migration and data integration refer to the shifting of an organization’s information from one system to another on-premises or in the cloud. Data integration requires deep knowledge of databases, data types and integration strategies such as Change Data Capture for real-time data updates. Data migration is also key to changes in business processes or systems, as when mergers, acquisitions or divestitures take place, or when an organization needs to transform to a centralized, global operating model.
Information Governance
Information governance is the set of structures, policies and procedures put in place by an organization to manage its information at an enterprise level. This ensures that any regulatory, legal, environmental or operational requirements the organization is held to are met—both in the present and future. Having an information governance strategy will further ensure that the organization is able to maintain data quality and relevance. More and more these days, companies are opting for services hosted in the cloud, as they offer a more cost-effective, powerful and scalable option to traditional in-house software and equipment. Because so many organizations today have expanded to include mobile, cloud and social channels of communication, those new data streams must also be regulated by information governance.
All in all, data management is a major factor in the success of a smoothly running company. It allows for data to not only be vetted and organized in real-time, but also turned into usable information that can help a company improve its operations over time.