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A Definition of Data Management

Data management is an administrative process that includes acquiring, validating, storing, protecting, and processing required data to ensure the accessibility, reliability, and timeliness of the data for its users. Organizations and enterprises are making use of Big Data more than ever before to inform business decisions and gain deep insights into customer behavior, trends, and opportunities for creating extraordinary customer experiences.

To make sense of the vast quantities of data that enterprises are gathering, analyzing, and storing today, companies turn to data management solutions and platforms. Data management solutions make processing, validation, and other essential functions simpler and less time-intensive.

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Platforms & Benefits

Leading data management platforms allow enterprises to leverage Big Data from all data sources, in real-time, to allow for more effective engagement with customers, and for increased customer lifetime value (CLV). Data management software is essential, as we are creating and consuming data at unprecedented rates. Top data management platforms give enterprises and organizations a 360-degree view of their customers and the complete visibility needed to gain deep, critical insights into consumer behavior that give brands a competitive edge.

Benefits to a well-run data management plan are numerous. Some are:

  • Personalizing the customer experience
  • Adding value to customer interactions
  • Identifying the root causes of marketing failures and business issues in real- time
  • Reaping the revenues associated with data-driven marketing
  • Improving customer engagement
  • Increasing customer loyalty
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Your Organization’s Data Is a Valuable Resource

Data management is important because the data your organization creates is a very valuable resource. The last thing you want to do is spend time and resources collecting data and business intelligence, only to lose or misplace that information. In that case, you would then have to spend time and resources again to get that same business intelligence you already had.

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The Amount of Data Makes It Difficult to Manage

The effective management of data within any organization has grown in importance in recent years as organizations are subject to an increasing number of compliance regulations, large increases in information storage capacity, and the sheer amount of data and documents being generated by organizations. Big data continues to grow and having the right infrastructure to support it is critical to success.

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Losing Your Data Could Be a Disaster for Your Company

93% of companies that lost their data center for 10 days or more due to a disaster filed for bankruptcy within one year of the disaster. 50% of businesses that found themselves without data management for this same time period filed for bankruptcy immediately. Having a strong data management plan is very important for the success of your company. DSHB can pair you with the right technology partner to ensure your data is protected.

A well-conceived data management plan will help you improve your accuracy in decisions.

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