Traditionally, companies have seen their physical assets and intellectual capital as their most valuable resources. Physical assets, patents, corporate talent, and other such things are certainly a vital part of a companys success. After all, these things can be leveraged to reach ones client base to develop new products and services to meet client needs. In addition, they maintain and increase the goodwill that a business generates in the community.
Since the dawn of the modern information age, however, organizations have come to see customer data as among their most valuable resource. If a company or organization does not understand its clients and customers well, all of the marketing efforts in the world are likely to prove unsuccessful.
Acquiring and maintaining accurate and relevant customer data in a secure manner is an indispensable part of success in this data-driven era. That is why successful corporations have one thing in common when it comes to data: high-quality enterprise data management.
What is enterprise data management?
To understand enterprise data management, one must first know what is meant by the term enterprise data. Enterprise data refers to the data that is owned by a company or organization: it is data possessed by a particular enterprise.
In regards to customer information, enterprise data consists of all of the details that the clients of an organization have given to that entity. This data can include contact information, such as home addresses, telephone numbers, and email addresses. Enterprise data also includes any demographic information that a company has acquired from its client base. This type of data includes things like annual household income information, dates of birth, and purchase or donation history.
A basic enterprise data management definition states that enterprise data management is the maintenance of the quality and privacy of enterprise data at every point in its life cycle. This encompasses everything from acquisition to management to distribution to elimination. Each of these points must be addressed in any successful enterprise data quality management plan in order to keep client and customer data up to date, as well as prevent it from falling into the wrong hands.
Aspects of a sound enterprise data quality management system
The main aspects of good enterprise data quality management are the plan, tools, and procedures that will be used to keep a handle on the data. A plan for enterprise data management looks at the reasons why the client data is necessary, what types of data will be collected, how data will be maintained, and what steps will be taken to ensure its secure disposal. Because data is so valuable (and even volatile), haphazard data management is a sure ticket to a companys failure. In any good enterprise data management definition and overview of its components, the right tools will be involved. These tools include such things as address and email verification systems, programs to identify and append demographic information, and so forth.
Experian Data Quality offers a large number of data quality management tools and services to provide any company with what it needs to implement its data management plans successfully.
Enterprise data quality management procedures are the framework in which the tools are used to achieve the desired results. Every organization should have a set of well-defined procedures to keep employees on the same page and keep data quality consistent across every department.
Enterprise data management made easy
At Experian Data Quality, we strive to make enterprise data management as easy as possible. Contact us today for more information on how we can meet your specific data management needs.