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5 Keys To Developing a Successful Data Management Strategy

July 20, 2015

Enterprise Data Management (EDM) is a business’s ability to effectively define, integrate, and retrieve data in order to manage the company. This can refer to accurately analyzing data for sales, tracking inventory, and developing new marketing strategies. With all the data that business automation systems collect, it can be easy for the majority of it to get lost somewhere in the mix. This is what is known as a data silo – and it’s not a good thing.

Because this data is segregated from other systems within the company, it can’t be analyzed or used to its full potential. It just sits there, rusting, until someone comes along to overwrite it. In the meantime, it creates a significant risk where older data overwrites newer data, also known as “loss of data integrity.” Clearly, it is an issue that needs efficient management. EDM systems are plans that businesses use to collect, store, and analyze data efficiently, so nothing is lost or duplicated. The end goal of every EDM plan is to allow fast, scalable access to data across all departments for analysis so it grows along with business.

Identify Necessary Data

The first step in building an EDM plan is to identify key data for your business. Look at metadata to find content types and data descriptions. Then, identify automation systems that will handle this data for your business. For example, if customer buying trends and behaviors are relevant data for your company, you should invest in marketing automation software that collects and analyzes data automatically. Automation systems let you collect more data, but they also make it easier to share and interpret data.

Make Data Easy to Share

The next component is to make sure that data is sharable and able to be managed across all systems. Speak with your designated IT workers and data content specialists to find out what their needs are. While data experts in different departments have individual access needs, they also need to be able to share data with other departments quickly and easily. Once you have an idea of what type of data is necessary for separate departments, you’ll have a better idea of how to make data sharable within them.

Determine Your Storage Method

Next, you need to assess what data will be stored and what will be shared. Any data that is not immediately shared or relevant can be stored, but where should it be stored? Storage technologies like the Cloud paired with API access methods allow access to data specialists across all departments to manage data. There are hundreds of combinations for storage and accessibility that can be catered to your businesses’ needs.

Trouble Shoot Data Flow

Find out where your data is coming from and how it is flowing through the architecture of your management systems. Consulting with an IT employee can help you understand this flow. Inevitably, every business has some places where data gets misdirected or lost. Pinpointing those spots will help you come up with a way to catch and redirect it so it ends up in the right place.

Outline Your Data Management Policies

It is important to come up with a data management policy that will outline how data is accessed and processed, and how issues are to be resolved. These policies will keep data specialists and other employees working with the same end goal in mind to cut out confusion during conflicts.

When developing an EDM plan, enlist the help of everyone in your tech department with meetings, surveys, and other forms of feedback. EDM systems aren’t just a benefit to your business; they’re also a benefit to your data specialists, IT workers, and more. A well-rounded plan permits multiple departments to work together to analyze, maintain, and store data, which will result in increased productivity and sales.

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