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Data Management is One of the Top Technology Trends to Watch in 2018

Whether you’re in marketing, sales, IT or another business area, you have to have access accurate, reliable data to make your decisions. This is where good data management comes into playand that’s the reason it’s a top technology trend to watch in 2018.

Data management is the area that covers all disciplines related to treating data as a valuable asset and ensuring its accuracy and security. This includes everything from data management to data analytics to managing your company’s data storage lifecycle.

A well-designed data management strategy includes six essential attributes or core attributes:

Accuracy – The data should reflect real, world objects and events and should be verified by trusted sources.

Completeness — The data must contain all mandatory values, such as sending an email to a customer with their last name only.

Consistency – the data should be consistent across all sets of data, and remain that way when it is updated or reorganized.

Accessibility — the data should be accessible to those who need it, without compromising compliance requirements.

A data management plan can only be successful if it is supported by all departments and business divisions. This is especially crucial since the impact of bad data can be devastating to your organization. For example, an IBM study estimated that poor management of data can cost the U.S economy $3.1 trillion per year in lost productivity as well as the costs associated with maintaining data.