Declutter Your Data: Simple Steps for Better Organisation

In an era where data is as valuable as gold, businesses, especially small ones, find themselves juggling numerous software platforms daily, each churning out its own set of reports and data. The challenge, however, lies not in the collection but in the organisation and management of this data to make it actionable and secure. This brings us to the pivotal process of data management, a necessity in today's data-driven business landscape.

Covered in this article

What is Data Management?
How Does Data Management Work?
Developing a Data Management Strategy
Data Management Best Practices
Key Findings
FAQs About Better Data Management

What is Data Management?

Data management is a comprehensive process that involves the collection, storage, access, and security of data from various business software solutions. It is the backbone of data analytics, providing the insights needed to refine business operations and identify opportunities for enhancement. With an efficient data management system in place, businesses can access a unified view of their data, leading to more informed decision-making and improved service delivery to customers.

Christopher Risher, a managing director at 1Path, simplifies it: "Data management encompasses disparate functions and systems working cohesively to move, organise and secure data, ensuring it's accurate, accessible, and protected."

In our contemporary business environment, every software, from accounting to customer relationship management (CRM) systems, generates data. The goal is to harmonise these data streams into a centralised system, making the data not just available but truly useful.

Rosaria Silipo, head of data science evangelism at KNIME, points out, "Data management can become complex, given the variety and volume of data businesses accumulate. It's a task that, if managed well, can lead to prosperity but if mismanaged, can introduce significant challenges."

How Does Data Management Work?

Initiating a data management policy starts with understanding the tools at your disposal. Cloud-enabled tools are often recommended for their ability to rapidly develop a data management platform, allowing for the centralisation of data regardless of its original location.

The aim is to standardise data to make it effective for business use. This involves unifying data from various sources, which might not originally collect the same types of data or in the same formats. Organisations are now recognising the value of managing and trusting their data to gain new insights into customer behaviour and industry dynamics.

A key component of data management is ensuring data quality. High-quality data is crucial for effective data analytics; decisions based on poor-quality data are likely to be flawed.

Developing a Data Management Strategy

When formulating a data management strategy, it's crucial to align with your business objectives. Identify the data you're collecting that's relevant to these objectives, looking for overlaps or gaps. This analysis will guide the organisation and security of the data for future use.

A well-implemented data management strategy is essential for reliable insights from analytical models. Poor data management can lead to unreliable data pipelines, affecting business decisions.

Data Management Best Practices

1. Maintain a Skilled Team: Data management requires a team of professionals with the necessary skills and knowledge. It's not just about managing data but understanding its role in the broader business strategy.

2. Establish a Data Compliance Plan: With the advent of data privacy laws, compliance is non-negotiable. Your data management plan must be auditable and demonstrate compliance effortlessly.

3. Regularly Review Data Security Policies: The cybersecurity landscape is ever-evolving, and businesses need to stay ahead to protect their data. Regular reviews and updates of security policies are essential to guard against new threats.

Key Findings

The clutter of unorganised data can be daunting, but with a structured approach to data management, businesses can turn their data into a valuable asset. From hiring the right team to implementing the right tools and policies, each step towards efficient data management is a step towards business success.

At Velocity, we understand the importance of data in driving business growth. Our expertise in data management and analytics can help your business harness the power of your data, turning insights into action. Ready to declutter your data and streamline your business operations? Contact Velocity today and take the first step towards better data management.

FAQs About Better Data Management

1. What is the first step in initiating data management?

The first step involves understanding the tools and resources available to your business for data management.

2. How can cloud tools assist in data management?

Cloud tools facilitate the rapid development and centralisation of a data management platform, offering access to data irrespective of its original location.

3. Why is data standardisation important?

Standardising data ensures it is effective for business purposes, allowing for a unified and actionable view from various data sources.

4. What role does data quality play in data management?

High-quality data is essential for accurate analytics. Poor-quality data leads to flawed decisions, making data quality a top priority.

5. How can businesses develop an effective data management strategy?

Aligning the data management strategy with business objectives, identifying relevant data, and determining the best organisation and security measures are key steps.

6. What are the best practices for data management?

Maintaining a skilled team, establishing a data compliance plan, and regularly reviewing data security policies are crucial best practices.