The 4 key areas how Data management can improve your current industry
What is Data Management?
Data management is the practice of collecting, organizing, protecting, and storing an organization’s data so it can be analysed for business decisions.
As organizations create and consume data at unprecedented rates, data management solutions become essential for making sense of the vast quantities of data.
Today’s leading data management software ensures that reliable, up-to-date data is always used to drive decisions.
The software helps with everything from data preparation to cataloguing, searching, and governing, allowing people to quickly find the information they need for analysis.
Why is it important?
Data management is a crucial first step to employing effective data analysis at scale, which leads to important insights that add value to your customers and improve your bottom line. With effective data management, people across an organization can find and access trusted data for their queries. Some benefits of an effective data management solution include:
Data management helps minimize potential errors by establishing processes and policies for usage and building trust in the data being used to make decisions across your organization. With reliable, up-to-date data, companies can respond more efficiently to market changes and customer needs.
Data management can increase the visibility of your organization’s data assets, making it easier for people to quickly and confidently find the right data for their analysis. Data visibility allows your company to be more organized and productive, allowing employees to find the data they need to better do their jobs.
Data management protects your organization and its employees from data losses, thefts, and breaches with authentication and encryption tools. Strong data security ensures that vital company information is backed up and retrievable should the primary source become unavailable. Additionally, security becomes more and more important if your data contains any personally identifiable information that needs to be carefully managed to comply with consumer protection laws.
Data management allows organizations to effectively scale data and usage occasions with repeatable processes to keep data and metadata up to date. When processes are easy to repeat, your organization can avoid the unnecessary costs of duplication, such as employees conducting the same research over and over again or re-running costly queries unnecessarily.
How can it improve your industry?
Ensuring Human Safety
Logging H&S accidents, near misses and ensuring on site tasks are being completed ensures that safety of your workforce is maintained
By ensuring processes, tasks and reports can be automated, this can reduce the costs of man hours on remedial tasks and focus on the key areas of the business
Optimisation of Key Areas
According to Bain & Company, using the correct data management and analytics has the potential to increase production by at least 6-8% as well as improving your workforce efficiency to maximise your business potential
Predictive Trends and Preventative Measures
Predicting trends of equipment failure can lead to improved uptime of plants with Operational costs being kept to a minimum, this allows staff to focus on improving performance rather than maintaining efficiency