Not too long ago, in the late noughties, I was consulting with a large, international business around one of their data-driven projects. Issues were found in the quality of the data and further analysis was needed to understand the extent and cause of the problem. The barrier I faced however, was that extracting the data could only be done during the quarterly development schedule which was over two months away.
It has often been said that the need to validate email addresses is primarily a tool for marketers. With email being one of the most successful channels for marketers, this is of course very true. However, when you look at other areas such as where compliance and risk are a principle focus, you can see some other obvious fits.
As companies are becoming more aware of how they can collect and use data to their advantage, they are constantly working to improve the ways in which they store, preserve and then manage it as a business-critical asset.
Yet they are always fighting to stay ahead of the curve and keep up with the vast amounts of data being produced every second. With growing numbers of devices set to go online as the much-hyped “Internet of Things” develops, big data will only get much, much bigger.
A comprehensive, streamlined approach to data can be achieved with an expert approach to the way you administer things. In other words, investing in a master data management (MDM) strategy can ensure that your asset is accurate, accessible and relevant. The pay-off is improved decisions and better profit margins.
It is all about universality, a common reference point if you will, whereby information and processes are brought together in a cleaner, more centralised arena. This reduces data duplication, identifies inaccuracies and standardises information.
Data migrations are a fairly common occurrence in today’s businesses. They are no longer just a once in a blue moon activity, because data is migrated practically on a daily basis. We migrate data when we acquire new information, when we merge and demerge operations, or move data around to get a more complete picture of our customers, products and financial position. The labels change, but the principles of a migration remain the same.
Organisations are keen to be well-organised and resourceful, which is why business efficiency remains a top priority. How do you achieve that? Backed up by data, you develop an operational system that allows you to successfully administer all your responsibilities on a daily basis and be reactive to whatever changes this fast-paced world throws at you.