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

If you’re in the field of marketing, sales, IT, or any other business area, you have to be able to access clean, reliable data for your decisions. This is where good data management comes in -and that’s the reason it’s one of the top technologies to keep an eye on in the year 2018.

Data management is the field that encompasses all disciplines relating to treating data as an asset and ensuring its accuracy and reliability. This covers everything from data structure to deploying data and analytics systems to managing the storage lifecycle of your company’s information.

A strong data management strategy encompasses six core, or primary, attributes:

Accuracy – the data must reflect actual, live objects and events, and be verifiable using trusted sources.

Completeness — The information must contain all mandatory values like sending an email to a customer using only their last names.

Consistency The data should remain consistent across every data set and remain the same even when it is updated or reorganized.

Accessibility – the data should be readily retrievable by those who require them without any compromise to compliance standards.

A data management program is only effective only if all departments and units are fully on board. This is crucial, as faulty data can cause a significant financial loss to your business. For example an IBM study estimated that poor data management can cost the U.S economy $3.1 trillion a year in lost productivity and expenses associated with data maintenance.