Data Value

What is the value of data in organisation ?

The value of data is really important. Every failure or damage on your information system can make financial losses and that can be fateful for the company.

Some important keys:

• 40% of company failed to achieve their targeted benefits with poor data quality, that is the primary reason.

• The labor quality can be increased or decreased by 20% due to the quality of Data.

• As more business processes become automated, data quality becomes the rate limiting factor for overall process quality.

We need to know what is data management:

For that I saw: the data management discipline has grown in response to the demand for organizations to manage their data assets. The function of a data manager is to ensure that others within the business are provided with the data and information they need to complet their role. The role cuts across all areas of an organization from customer through to suppliers, and in insurance especially, regulatory organizations. The data manager ensures that the data of the enterprise will satisfy the needs of the internal and external users and data moves through a well-managed environment.

So,

A comprehensive data management strategy and a comprehensive process will reduce project time and resources. The time taken for data to move between business processes, and rework and correction time due to poor data alignment while increasing system-to-system communication, data quality, and data utility. A data management program seeks to align data across an organization, simplifying processes, sharing the same data and simplifying the technology architecture needed to support the business.

The true cost of poor data quality is enormous. As bad information moves through a process, the cost of correcting the bad information increases.