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Data Management

Importance of data management 

Data management is the process of storing, organising, and managing an organisation’s data. In order for corporate leaders, company managers, and other end users to make operational decisions and plan strategically, effective data management is critical.

Data is increasingly viewed as a corporate asset that can be utilised to enhance marketing campaigns, operations, and cut expenses, all to increase revenue and profits. Poor data management can result in incompatible data silos, inconsistent data sets, and poor data quality, limiting the capacity to operate BI and analytics applications, or worse, incorrect findings.

Businesses are increasingly susceptible to regulatory compliance obligations, including data privacy and protection legislation like GDPR and the California Consumer Privacy Act. Companies are also gathering bigger data volumes and a wider diversity of data kinds, both hallmarks of big data platforms. This type of setting may become cumbersome and difficult to traverse.

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Data Mangement as a process

We understand the interwoven nature of data in a modern business context. There are strict regulations in many parts of the world, and this is how it should be to ensure that data – the lifeblood of our modern world – is handled properly.

We built NovoFinity around the requirements of modern business, and each of our divisions operates in unison to deliver the best possible outcomes for our clients. 

Elements of data management

 

It’s hard to locate and lockdown the requisite talent for effective data management. We have the experience and expertise, underpinned by mature custom Accelerators we’ve built. We use this intellectual property to not only deliver consistently, but more rapidly, so you see value and ROI faster.

Data Strategy 

Refreshing existing data collecting and usage processes while implementing new technology and innovations might help an organisation make better use of its data. An end state for agency data usage is identified, along with a clear path on how to get there. Our Data First Solution offers an invaluable framework for the implementation of a complete Data Strategy, and we can help customise that solution for your business.

Business Strategy

Data strategy should bolster the efforts towards organisational excellence and business outcomes. It should be a component of a larger business strategy or it’s for naught.

Data Requirements

Mapping the requirements by department and user, including what data and how it’s being used, should inform how the data is managed, and how change is orchestrated.

Data as an asset

You are creating potential value when you create data. Data is not just some by-product, it is the end result of effort. Creating policies with this in mind helps it to be treated as such.

Data Architecture

How is your data transported and analysed? A solid data architecture ensures that your business has the right structure and catalogues to identify and manage your data.

Data Governance

Good data governance helps guarantee that information is used effectively and efficiently to help a company accomplish its objectives. It defines the procedures and responsibilities for ensuring the quality and security of data utilised within a company or organisation and establishes who has the authority to take what actions, based on what data, under what circumstances, and with what techniques.

Quality

Like tap water, data needs to remain contamination free if it’s to be used for all the purposes it’s capable.

 

Data Availability

Is the ability of users or business applications hampered by friction when accessing data they need?

Data Access

Is your data usable? Is it well organised and documented, for both users and the tools you use?

Data Accuracy

Is there a fundamental integrity across all of  your data? Regardless if in use or at rest, does it remain true?

Data Security

Do you have the appropriate policies and tools in place to safeguard your data and that of your customers?

Data Quality

How data is collected, treated while it’s being used, while at rest on platters, and how it’s structured in the first place all play part in how it can retain its structure and usefulness to the organisation. We help businesses ensure that the purest data goes in and remains that way.

To build a better understanding across your data, NovoFinity uses ApertureData. This platform offers an ML-ready, high performance, cloud agnostic database to manage big data. And we get the most from the platform for your organisation.

Reporting & Analytics

Understanding what your data is doing and how it’s being leveraged is vital to the health and performance of any organisation. Our focus on combining big data, information architecture, and machine learning provides the processing and intelligence your company needs.

Big Data

We have the methods and techniques to help you garner business insights into the big data you’re holding. We can leverage technologies either on premise on in the cloud to provide clarity and scope for business operations. 

Information Architecture

An intelligent structure for your data and its movement is critical for your business. Our ability to help you plan and build smarter, and to report on how the policies and the governing of your data collection, storage, and optimal use.

Machine Learning

Used to solve particular prediction or optimisation problems. Our consultants utilise Machine Learning methods including classification, random forests, and decision trees. to drive competitive advantage for your business.

Get the most from the data you have, and make sure it stays secure. NovoFinity ensures that you’re able to operate optimally and that you are bulletproof.

Data Management FAQs