Most successful businesses have some form of enterprise data management. But what exactly is this, and how does it work? Keep reading to uncover more details and if this is something that your business needs.
Defining Enterprise Management
Enterprise data management refers to the inventorying process, governing the business’s data, and getting the organization on board with the said process. Often known as EDM, the method includes an organization’s ability and capacity to help integrate, govern, secure, and disseminate data across multiple data streams.
Usually, it involves accurately transferring data and securing the same data among involved partners, applications, subsidiaries, or/ and processes.
Why is Data Enterprise Management Important?
Enterprise data management is particularly crucial for companies undergoing global expansion. One may wonder how critical this process is. Does it add any value to the companies involved? The increased pressure on data enterprise management implementation stems from the operational needs of these enterprises. One of these needs is the urgency to ensure data is accessible and increase its usefulness.
Businesses must use this data to help them make decisions that empower the business and help improve efficiencies within the organization. This translates to the need to have the data converted and standardized in formats that can be safely and accessible used.
Elements of Enterprise Data
Whether you are starting with data management or are sharpening your skills, there are several aspects that you need to understand about this process. You should know that the number of businesses managing their data has increased tremendously. Experts say there has been a 40% rise in companies managing their data today.
The reality is that more companies are learning how to handle data. Additionally, the data formats are expanding with streams encompassing everything from images, videos, financial information, and unstructured data of all kinds (these come from social media, the internet of things, and mobile.
Despite the variety of data, all this content needs to be organized in the following formats:
- Organized
- Centralized
- Accessible and usable by businesses
Therefore, businesses should appreciate that the process of effectively managing data is not an easy thing. They must always understand the data and develop an intelligent data management strategy for things to work.
Significant Components of Enterprise Data Management
The main components of this process involve the following:
- Data Governance: This refers to the processes and policies applied to ensure the data’s integrity, security, and quality. It is easy to liken it to data stewardship. However, it involves policy enforcement guidelines, governance authority, and overall responsibility. This will establish the organization’s or company’s laws on data. It describes when, how, and who should enforce the said laws.
- Data Integration: As the name suggests, this refers to consolidating and moving the variety of an organization’s data into one common and accessible location. It is vital as it ensures that all data (in various forms) is available in a helpful format for the business. Note that this stage has several types of integration. The most common forms include propagation, virtualization, consolidation, and federation. Other methods include cloud integration.
- Master Data Management: This stage uses the data integration methods described above. It refers to applications and tools utilized in the enterprise data management strategy that create master versions of the original data. It also helps to provide a consistent view of the once scattered data.
- Data Security: Anyone dealing with data knows how security is a vital component of the entire process. The measures are put in place to protect data at the different stages, including the data in transit and the one at rest. Note that the protection and security of data not only focuses on anti-theft or anti-leakage but also covers the prevention of data destruction, corruption, and its overall integrity.
Businesses can thus develop effective enterprise data management strategies if they cover all four components. Drafting this strategy takes a bit of work. However, to successfully achieve this goal, consider the following tips.
Assessment Performance
It is essential for the business to understand the data flow and types of data clearly. This will be instrumental in crafting a workable strategy. Assessment is time-consuming and can be taxing, but it is worth every effort. You need to develop a strategy that matches your data in the organization, as this guarantees effectiveness.
Definition of Processes and Deliverables
Companies need to develop a clear plan of what they intend to achieve. Data management can be an ambiguous term if no clarity measures are given. Therefore, a good management strategy will focus on several aspects. Ask yourself a few vital questions, including your scope, the end goal, and how you intend to measure the strategy’s success. This way, developing realistic strategies for your enterprise data management is possible.
When data demands are overwhelming or the projects are substantial, it helps to take an incremental deliverable approach that uses phases.
Decide on the Policies, Standards, and Procedures
These three elements will serve as guides that help keep the data where it should be. This will enhance data integrity and reduce security breaches or data corruption. They provide tools for the staff to meet required standards.
All companies will also be stipulated within the policies.
Final Thoughts
Enterprise data management is no easy task. However, it can still be conveniently achieved with careful procedures followed. No matter what, an emphasis on quality should always be prioritized.
