There are so many dimensions of data that it can be overwhelming. Data growth, Big Data, accessibility, data security, compliance, governance, risk, defensible deletion, preservation, data quality, information management, data warehouses, actionable intelligence, and the list goes on and on.
As I sit here writing, additional elements of what I call “The Data Management Conversation” keep running across my mind. Thus, all I see is it creates a magnitude of data challenges and this is causing undo pressure.
Recently, I was taking my youngest son for a root canal and had to ask him to describe his pain. I asked if his pain was dull. As a fourth grader, his response was, “No, it is not boring.” While there is likely some pain around your data, it is not boring. It is more annoying.
Trusting and understanding data
How can we expect corporations to manage data effectively within their organizations? It is almost like making sure my son is taking care of his teeth. There has to be a level of trust. Trust begins with teaching and managing best practices around data. First, you must understand what makes up the data and describe your data pain. Are you cleaning out the decay and trying to save what is truly relevant to your corporation? Is your data sitting in silos of data sources that are going stale or antiquated?
The growth of data
It seems like in a blink of an eye we went from talking about preserving and protecting terabytes of data, to talking about petabytes to zetabytes. My mind can barely grasp that volume of data, and now we have to look at the velocity of which data is being created and the formats of data. Corporations are being tasked with making sure our personal identifiable information is secure meanwhile making decisions on the best way to communicate with consumers. Meanwhile their intelligence is being gathered from so many data sources.
Data has really changed the way business is transacted and continues to do so, which means that we have to change the way that we, as business stewards, address the data management challenges. For the success of customer satisfaction, brand identity, and overall health of the corporation, data is now at the front lines.
The heath of data
Ask yourself, what is the health of my data and what is my viewpoint of my data? Understand the magnitude and consequences of not getting it right. The importance of getting it right can result in eliminating pain, being more efficient, happy customers, and increased revenue. And that is definitely not boring!
Looking at the value of data
Take a look at data creation. Your employees are said to be the best asset within an organization. However, let me pose this question, who creates the data that we manage and analyze? Data is the best asset. Tangible assets are used in business operations and have a life expectancy greater than one year (i.e.. plat asset – machinery). Intangible assets are not physical assets used in business, which provide rights, privileges and competitive advantages to the owners (i.e.. patents).
Data has a natural life cycle. What dimensions of data interest you?
Learn more data best practices with the free ebook below.