What Is Data Management And Why Is It Important?

We’ve often said that Content is King (or Queen). 

 

But you know what else is royal? 

 

Data. 

 

Data is the very foundation of companies’ information and knowledge about anything and everything, and data management is knowing how to handle it – from security to warehousing to destruction. 

 

So what is data management? 

 

This is the collection, storage, organisation, protection and verification of essential data in corporate systems, to make it accessible to the organisation and business users. As an increasingly important corporate asset, more and more data is required for organisations to make informed business decisions, in marketing, optimisation of operations, and minimising their costs, especially in unique situations like the one COVID-19 provides. 

Image Source: IndiaMART

 

 

Why do you need data management systems for your organisation? 

 

As data management is the planning and delivering of data to your organisation, it makes for the following benefits: 

 

 

  • Minimising errors: Effectively managing your data means you’ll be more assured that it isn’t “bad information”. There is a direct relationship between an increase in copy-pasting + drag-and-drop, and data errors. 
  • Increasing productivity: If your data can be easily accessed by the entire organisation, it means less time spent on looking for information and more on efficiently using it to work. It also increases organisational communication and correspondence. 
  • Decreasing security risks: Protecting your data is essential, especially from thefts, accidental loss, and breaches. Data security is a vital part of management, and keeping it secure means people will trust you more with their personal information. 
  • Reducing chances of data loss: A good data management system means you won’t lose important company information because everything is backed up, and there won’t be that sinking feeling of dread every time there’s a sudden system glitch or failure. 
  • Cost-effectiveness: When you have a proper management system in place, you’ll spend less money (and time) trying to fix issues that should not have occurred, to begin with – something our digital marketing agency can help you with. 

 

Image Source: Innovative View – Data Management and Data Quality

 

Why is this even important for businesses? 

 

If organisations don’t have well-planned and well-designed data management systems in place, they might end up with an uncoordinated and inefficient system that becomes difficult to manage. Even in the better-planned management systems, getting that access to relevant data quickly can be a challenge because it’s spread across various databases and big data systems, if they aren’t catalogued properly. The shift to cloud-based services to store your data is a great idea, but you can run cost-management risks if you don’t plan it into your budget beforehand. 

 

Don’t doubt your royalty. Digital Odyssey can help you stay on top of trends to effectively navigate the complex waters of the internet. Our marketing agency can help you with further ideas on how to design world-class websites, seamless user journeys, and digital marketing campaigns.

 

Contact Us to Learn How

 

 

  

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