The data management process involves the acquisition, validation, storage and processing of information relevant to a business or entity. This data can be used for basic functions of doing business, such as cataloging customer information, or it can be acquired solely with the intention of using it to grow the business. For instance, the acquisition of data related to market research can be tremendously helpful when it comes to increasing sales.
The steps in the data management process are the acquisition, validation, storage and processing of data.
Managing data can be complex, often because it is so varied. In other situations, the complications can arise due to the sheer volume of available information. Some companies turn to data management software to house and organize the information they have acquired. In many cases, this data is searchable and sortable via a variety of metrics to make it more user-friendly.
The best way to approach data management steps is to first determine your company’s purpose in obtaining the information. Asking overarching business questions is always a smart strategy for your company. Zero in on these queries first, and then identify and obtain the data that will help you to answer those questions. Possessing information just for the sake of having it won’t help you to grow your business. There’s nothing worse than spending time or money to acquire information and then realizing it hasn’t solved any problems for your business and can’t get you anywhere.
Once you’ve asked the right questions and sought out data accordingly, it should be assessed for validity. This is important since the information will likely be used as the basis for major business decisions. For instance, verifying that there are no duplicate entries in a client database is important to prevent embarrassing extra sales circulars sent out to customers.
Before you can begin to use your data, having a sound organizational strategy is key. Software that is specific to your industry or the sort of data you’ve collected can be a wonderful resource. If you are dealing with extraordinary quantities of information for a long period, it might also be worth considering bringing on an employee skilled in data management to take the lead.
Overall, access to the data should be simplified. Information is only as useful as it is accessible to ensure that pertinent questions can be answered simply. Also, focus on quality over quantity. While having vast amounts of data can feel empowering, it’s only useful if it provides your company direction for growth.
Data management best practices dictate that your company have a documented system in place designed to corral the information you’ve collected, making it useful and accessible in the future. One way to achieve this goal is by hiring a data manager.
Data managers create or maintain systems to gather and organize information, typically via software, which they may recommend based on an organization’s needs, or build from scratch. Data managers are required to be highly meticulous and analytical so they can collect and organize information in the most user-friendly and efficient way possible. Also, individuals in this role are expected to make sense of data and report on it in ways that would be useful to the company.