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

No matter if you’re in sales, marketing sales, IT or another business function, you need to have access to trustworthy, clean data for your decisions. This is where effective data management comes into play -and it’s the reason it’s one of the top trends in technology to due diligence IT watch in 2018.

Data management is the field that covers all disciplines related to treating data as a valuable asset and ensuring its accuracy and reliability. This includes everything from data architecture to deploying analytics and data systems, to managing the lifecycle of storage of your company’s data.

A solid data management strategy consists of six core, or primary, attributes:

Accuracy — the data should be based on actual, real-world objects and events, and be verified by using trusted sources.

Completeness — the information must contain all necessary values for a particular use case for example, such as sending a letter to a customer with only their last name.

Consistency — the data should remain consistent throughout all data sets, and remain the same even when it is updated or modified.

Accessibility – data must be accessible to people who require them without any compromise to the quality of compliance.

A data management strategy will only be effective if it’s supported by all departments and business areas. This is especially crucial since bad data can have a costly impact on your company. IBM found that poor handling of data costs the U.S. economy $3.1 trillion per year in lost productivity and costs associated with maintaining data.

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