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.
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.
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.
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.
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.
Like tap water, data needs to remain contamination free if it’s to be used for all the purposes it’s capable.
Is the ability of users or business applications hampered by friction when accessing data they need?
Is your data usable? Is it well organised and documented, for both users and the tools you use?
Is there a fundamental integrity across all of your data? Regardless if in use or at rest, does it remain true?
Do you have the appropriate policies and tools in place to safeguard your data and that of your customers?
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.
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.
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.
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
Are these just buzz words and hype, or are they relevant for me? With the rapid pace that technology changes and new products are entering the market, we are not surprised that many decision makers are confused. With the fear of being left behind or missing out, we appreciate that decisions are made everyday without necessarily having all the facts or experience at hand. We value successful outcomes over meaningless talk and will help you siphon through the hype and buzzwords to ultimately make the right decision for you.
We have the skills, experience and people to help you create the teams and implement the technology to achieve your goals. If you decide that you would rather focus on your core business activities, we can help you to put tailored solutions in place to support you in maintaining your competitive advantage.
We are experts in ‘all things data’ and as such, offer a broad range of services across the data life cycle. We help organisations create applications to engage their customers, automate business processes, as well as delivery of dashboards and reporting. NovoFinity have experts across core defined data management capabilities, such as strategy, governance, architecture, and data quality.
Our experienced consultants have the deep knowledge and experience to assess where your organisation is in the journey towards becoming a data-driven organisation. Based on your current position we will highlight where investment is required to support key strategic business goals and imperatives.
We firmly believe that in order to survive in the digital age, you need to become a data driven organisation. We can help you on the journey from start to finish.
W. Edwards Deming once said,
“That without data, you’re just another person with an opinion.”
We truly believe that all decisions should be made from data. We will help you gain a competitive advantage over your competition by becoming data driven through enhanced data management activities.