Data management: what is it and how to apply it?

Data management is a strategy that deals with the security and transparency of a company's information.

Good data management is a fundamental strategy for contemporary companies. The concept encompasses all tools aimed at collecting, organizing, transforming and distributing information, but in a way that makes it relevant.

Today, information is a valuable asset for companies. That is why it is so important to know how to manage data well.

In this article we will discuss this topic in detail. Find out what data management is, how it differs from information management, how to implement it and what its advantages are.

Data management: what is it?

Data management is an administrative discipline that brings together tools, processes and methodologies for handling information on a company's daily activities in order to ensure greater transparency and security, as well as to improve decision-making.

The idea is that the management of data and information ensures a comprehensive improvement of the processes of collection, storage and use of these assets. In this way, a simple piece of data can become useful information for the company.

The Data Management Body of Knowledge (DMBoK), the international reference framework on the subject, defines data management as:

"An organizational function concerned with the planning, control and delivery of data and information assets. It includes the disciplines of developing, executing and monitoring plans, policies, programs, projects, processes, practices and procedures that control, protect, distribute and enhance the value of data and information assets."

As you can see, this type of management is critical for companies to better manage information, especially in a context of stricter laws such as personal information privacy laws.

Understand the difference between data management and information management.

The concepts of data management and information management end up being confused in day-to-day business. But it is important to understand their differences in order to receive proper treatment and obtain better results.

Data is the initial basis of the process that, with proper management, transforms it into information and makes it applicable to business planning. A single piece of data says nothing. Information, on the other hand, can make a big difference.

Data alone does not provide solutions to business demands. For example, "Company A sold x number of cars" is data, whereas the sentence, "Company A sold X cars in the month of March 2021" is information that helps to understand the results.

"So why manage data?" you may ask. This strategy is essential because good organization of the data collected is what will allow you to turn it into results and drive continuous improvements.

The company deals with raw data and by placing it in a specific context is able to interpret it and make it part of a certain process.

Find out if your company is showing signs that it needs to manage data better.

All companies deal with data, at one level or another. Therefore, be on the lookout for signs that point to a demand for more efficient data management, such as:
  • Your company captures a huge volume of data, but this data is not converted into any kind of information and ends up representing nothing to the management.
  • Reporting is always a complex, time-consuming and non-standard process
  • Data is unreliable and requires several manual checks
  • Communication between areas is faulty and data exchange is unreliable or unreliable
  • Data comes from different systems
  • There is information leakage and problems related to database attacks.
Advantages of adopting a data management strategy

Do you really know how important data management is? The main advantage of implementing a more organized strategy is the ability to improve decision-making processes.

All company activities are based on reliable data that can be parameterized according to business needs.

Data management is not only a competitive advantage, but a necessity for 21st century institutions, especially in view of the digitization of activities in all areas of society.

Principles of data management

Data management is based on some fundamental principles. These are:
  • The relevance of data, which have become business assets.
  • The quality of the data, which must be measured and managed appropriately
  • Efficiency in capturing and making information available
  • Risk management, in charge of analyzing criticalities and regulatory compliance
  • federation, i.e. structure and scale
  • The ability to manage data collaboratively
  • Innovation in management techniques
  • Contextualization of data so that it becomes information.
How to manage data?

Relying on a data management system is the best way to handle this business approach. Here are some important steps to take before adopting a management technology:
  • Define those responsible for handling each type of data.
  • Map out the business scenario
  • Identify gaps and opportunities for improvement
  • Classify the data and develop an organizational methodology
  • Implementing a data-centric culture
  • Closely monitor the results of the new processes implemented.
What about data management software?

Relying on a data management technology system makes this task much easier. The software can capture, analyze and classify a large volume of data automatically and seamlessly.

In this way, management strategies become much more sophisticated, with increased results in all areas.

Why is integrated management software the best choice?

Integrated management software concentrates all business information on a single platform.

All-in-one solutions such as SYDLE's bring together several tools, improving end-to-end processes and facilitating team routines. In addition to the Analytics module that manages data, the platform includes:
  • BPMS (Business Process Management Suite) for process management.
  • CRM (Customer Relationship Management), which handles all stages of customer relations
  • ECM (Enterprise Content Management) for document management
  • Service desk for demand management
  • And much more!