Data management: the value of data for a company

Data management is a valuable tool to create competitive organizations

Data is a corporative asset of pure gold when it comes to making assertive decisions and designing strategic action plans

The key to economic growth is to create high-value companies. To achieve a competitive organization, it is necessary to identify the needs of the client and provide our products and services with added value. If your plan as a business owner is to differentiate yourself from the rest, then you must access the correct data, with the correct tool, and use it in your favor. In this article, we will talk about Data Management, a new technique that has been revolutionizing the field of business.

Data at the service of your Company

It is discouraging, and even sad, to imagine how, a few decades ago, the most widely used method to get closer to the tastes and preferences of users were those tedious surveys that ended up turning into accumulated piles of paper, whose information had to be processed later. Fortunately, today we live in the digital age, where technology is at our service and, through Big Data, a large, but large volume of data can be analyzed that is valuable for business strategy.

The big data, also called massive data, data intelligence, large-scale data or Big Data, which are generated daily in an institution are so voluminous and complex that they require non-traditional computer systems for their processing, and thus, be treated properly.

The size of accumulated data to be considered Big Data continues to rise. Most specialists point out that it should be a data set ranging from 30-50 Terabytes to several Petabytes. However, as the saying goes, it is not the quantity that matters, but the quality; By this, I mean that the key is not in the volume of data, but in the assertive use that organizations give to all this information for decision making and strategic redirection.

This leads us to point out that the discipline of Big Data is associated with the analysis of consumer behavior. In this sense, the extraction of the data allows predictions to be made through the observed patterns.

Why is data management important?

Everyone repeats that human talent is the most valuable asset of a company; We agree, but I would particularly make the following distinction: data is a corporate asset of pure gold when it comes to designing strategies and action plans.

But in this treasure, some coins will surely not serve us. This is when Data Management or Data Management plays a significant role. Thanks to this tool, it is possible to separate valuable and structured data from invalid data, as well as keep it protected.

Data Management is one more part of information management and encompasses all disciplines associated with data management and data systems. Its function is to ensure that the organization's data is always available, is duly protected and that it meets the necessary quality conditions.

In other words, it intervenes in the entire life cycle of the data asset: the creation, obtaining, transformation, distribution, protection, documentation and preservation of the data. Within its field of action are terms such as data modeling, data cleaning, database administration, storage, migration, mining, quality, security, and data architecture.

In the knowledge age, companies are desperately seeking to simplify access to traditional and emerging data, and data management practices make it possible. Data Management platforms allow institutions to use data analysis to provide competitive advantages to their business:

• Allows you to personalize the customer experience.
• Add value to interactions with users.
• Help pinpoint the root cause of marketing failures and negotiation problems in real-time.
• Improve customer engagement, and even increase their loyalty.
• It serves to innovate and develop new products more adjusted to the needs of consumers.

Having said all this, do you still think that the data obtained from your clients through technological systems are garbage?