Data management is the process for collecting, storing, and organizing data in order to support business goals. It also includes monitoring data quality, governance, and security. Effective data management can enhance the quality of decisions, ensure compliance with regulatory frameworks and create new sources of innovation.
As the amount and variety of data continues to increase, businesses must ensure that their data are accurate secure, safe, and accessible when needed. This requires the development of an information strategy and the implementation of best practices. In this article, we’ll look at eight proven data management best practices that can help businesses improve their performance and increase their competitive edge.
1. Establish Data Standards
Data management starts by defining the most important elements of data that are essential to business operations. This will avoid ambiguity and low quality data that result from inconsistent definitions of data.
2. Implement a Data Governance Structure
To ensure data consistency and accuracy, the business must ensure that all of its employees understand their roles in managing data. This requires a precise, clear organizational structure that establishes roles for the data owners and stewards and a governance committee to oversee every aspect of the process for managing data.
3. Set up Permissions that Match the roles of each individual
It’s a great idea to restrict access to your customers’ data by assigning permissions that are appropriate for each member of your team. This will stop your team members from being overwhelmed by outdated information that doesn’t aid in their work. It’s also a smart way to avoid data breaches.