Every company strives to provide products and services to customers in a timely and effective manner. Today, big-data-driven insights are responsible for much of that speed and efficiency.
However, many of those companies continue to struggle with appropriately acquiring and analyzing their data, making data management a stumbling block.
In this article, we explore the biggest pain points of data management and how to resolve them.
As a company gathers more and more data, it can quickly become siloed or segmented. This happens for various reasons such as:
- The rapid-fire pace of data collection
- The constant growth and turnover of new technologies
- New data sources
- Internal friction between teams or departments
- Evolving enterprise infrastructure
Solving siloed and segmented data is most commonly solved by using platforms that unify data management or even integration software that ensures different teams are on the same page.
Poor Data Quality
One of the most significant pain points of data management is that companies waste a lot of their time and resources by gathering irrelevant data. A crucial part of proper data management is ensuring that an organization collects only data that can help it grow and meet its goals.
The best way to resolve this issue is by investing in data analysis tools and staff who can interpret the gathered data and help tailor the company’s future data collection efforts.
Lack of Leadership
Another common problem with data management is that there isn’t a qualified person in a company to do the managing. Hiring a person who will be in charge of data should be done for several reasons:
- Your data management team needs someone who will guide them and give them direction
- The data management team leader can help develop internal policies everyone in your organization needs to follow
- Not everyone is data literate, and a dedicated person can help educate employees
The data management team leader you appoint should know how to address concerns or ideas through data modeling, presentations, and more. By doing so, the importance of data governance will remain at the forefront of your company’s objectives and won’t be misinterpreted as a waste of resources or time.
Lack of Flexible Infrastructure for Data Management
Another significant problem that companies face when it comes to data management is the infrastructure needed to manage the data. For things to run smoothly, companies should invest in an agile, flexible infrastructure that can meet current business needs and scale to match how those needs will change tomorrow.
Companies often resolve these issues by using the cloud for storing and managing data.
Cloud-based technology has revolutionized the enterprise world, allowing businesses to retrieve and store tremendous volumes of data easily. But before all this data is used for analytics, it has to be transformed, cataloged, and checked for quality.
This is what purpose-built data estate does for your business. To derive value from your data, you have to be able to sort through it efficiently.
And, that is something we can help you with. HICO-Group helps to implement state-of-the-art business intelligence concepts that are customized for your company to help you build future-proof data solutions.
At HICO-Group, we use industry-leading best practices to assist you in matters of business data estate. From ideating a functioning data management model to data warehousing and staff training, our team of Business Intelligence experts can help.
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