Data Management Service
What is Data Management?Data management is an administrative process in which the required Data is acquired, validated, stored, protected, and processed to ensure the accessibility, reliability, and timeliness of the Data for its users. Organizations and enterprises use Big Data to inform business decisions and gain knowledge of customer behavior, trends, and opportunities for creating extraordinary customer experiences.
Top 5 Data Management Challenges
1. Sheer volume of data
It is evaluated that about 2.5 quintillion bytes of data are created every day. This sheer amount of data and the numerous collection sources make proper data management an important, yet elusive goal.
2. Taking a reactive approach to data management
Many organizations and enterprises take a responsive approach towards data management and will wait until there are specific issues that need fixing. They don’t realize there is a problem with their data.
3. Lack of processes and systems
When the Data is extracted from different sources, there is an inconsistency of data, and nobody trusts the numbers. A lack of data management systems, processes, and inadequate data strategies are the main culprits of inaccurate data.
4. Fragmented data ownership
One of the critical shortfalls for most organizations is a lack of data ownership. Data ownership is still fragmented. Multiple stakeholders drive the management of data quality and frequently measured at a department-by-department level, instead of across the business as a whole.
5. Driving a data culture
Many organizations cannot invoke enough support to improve data culture. The organizations are often lacking the knowledge or skills around data management and the resources required to manage data correctly.
Benefits of Data Management
- Reap the revenues associated with data-driven marketing.
- Identify the leading causes of marketing failures and business issues in real- time.
- Personalize the customer experience.
- Add value to customer interactions.
- Improve customer engagement.
- Increase customer loyalty.
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