Data management (engl. data management) — the process connected with accumulation, the organization, storing, updating, data storage and information search.
Treat data management
- Data analysis
- Data modeling
- Management of databases
- Work with data warehouses
- Extraction, conversion and data loading
- Production of data
- Ensuring quality of data
- Data protection
- Data encryption
- Management of metadata (repositories of data)
- Architecture of data
The separate article of TAdviser is devoted to the concept "Data".
Separation of functions between Data Governance and Data Management
Just as the auditor controls financial processes, but actually does not exercise financial management, the management of data provides proper data management without direct accomplishment of data management.
Data management represents the integral separation of duties between supervision and execution
2020: Research Aruba: the organizations of Europe, the Middle East and Africa have not enough tools for work with data
On May 21, 2020 it became known that according to the report of Aruba, Hewlett Packard Enterprise company, the organizations face a problem of obtaining benefit from data as systems are rebooted because of the growing amount of requests.
As it was reported, the report based on survey results more than 170 leaders of opinions in the field of IT and network engineers in an ecosystem of Aruba of the region of EMEA revealed that most of respondents are disappointed with shortcomings of data management. According to poll, 61% of respondents "not completely control data of the company", 51% - "cannot consider data completely", and 52% - "cannot take useful information from data retrieveds".
Report of Data to Decisions: A Rulebook to Unlock the Power of your Data describes six steps which will help the organizations to manage the data better. Key subjects of the report:
- Unrealized potential
Respondents confirm that the potential of data allows to use them for more effective and customer-oriented work. They connect the biggest benefit from data management with an opportunity to provide to clients better services (60%), increase in efficiency (38%) and implementation of production innovations (35%). However, respondents also pointed out the defects of the existing systems and infrastructure which can limit these opportunities. On a question of that, kind of they wanted to use data which cannot involve for May, 2020, respondents answered that in their priority - to raise the security level (63%), to implement more analytics in real time (55%), to make more reasoned decisions on the basis of data (55%) and also more effectively to use data for accomplishment of the main objectives of business (45%).
- Advanced training and growth of competences
For May, 2020 one more serious reason for concern – the shortage of the corresponding skills and knowledge among the staff of the companies. More than a third (36%) of respondents said that "the lack of skills for management of promptly growing data" is for them one of the main problems. At the same time, the greatest fear among respondents (28%) is that "employees will not agree with politicians of data management". To improve skills and to expand the knowledge base in work with data, the organizations should focus on advanced training of the employees having profound industry knowledge, to employ the director of processing and data analysis (Chief Data Officer) and also to create groups on data management which part the specialists making decisions on all key business challenges that will provide reflection of their needs for strategy for work and data management will be.
| ||The companies already locate the most part of the most valuable knowledge. The training of employees allowing them to communicate with experts in information technology field and to use API is often much more valuable, than the address to Candidates of Technical Sciences with a request quickly to understand the industry.|
told Tom Chatfield, the author of the report and the technical analyst
- Security and compliance to politicians and requirements
Besides that for May, 2020 the data security is in the first place in the priority list specialists IT, it causes in them the greatest fears. Two of three biggest problems concerned security or compliance to requirements and politicians of the company: 21% of respondents are afraid of the hacker attacks, and 12% - that their organization will be fined according to the European regulations of personal data protection (GDPR).
The report contains a number of recommendations about increased security, such as: classify data according to different risk levels, develop the action plan in case of date leak and also train employees on the basis of practical scenarios for increase in awareness on threats.
| ||Employees – the last boundary of security. You can use the best firewalls and VPN solutions. But if someone saves the file with passwords on the Gmail mailbox, and it is cracked, then everything leaves from under control.|
Andrew Grill, the author of the report, the futurist noted
| ||Each organization understands what opportunities are given by data for implementation of innovations, development of products and improvement of customer service quality. As data and solutions move to network edge, the companies should be sure that their systems and processes will cope with it. As affirms as this research, the organizations need to improve skills and to train the employees, to create effective management structures and to pay special attention to data security. In the conditions of a pandemic these recommendations are even more relevant as work of the house becomes regulation, and house Wi-Fi does not meet key safety requirements while the number of target cyber attacks grows.|
Morten Illum, the vice president of Aruba in EMEA region concluded
2019: Key questions and errors in data management
The relevance of a subject of data management (Data Governance) grows every year. Really, need of the organization of the processes directed to increase in efficiency of collecting, processing, storage and use of data as a valuable asset is already obvious practically to all companies. It is much told about what advantages bring to the company correctly built processes of management of data, and many organizations already began implementation of this initiative. At the same time the organizations often make similar mistakes which have negative effect on rates of implementation and efficiency of the created processes of management of data. About what it is errors as to avoid them and on what questions the organization should find answers in the course of Data Governance implementation, [http://www.tadviser.ru/a/498875 in the material prepared for TAdviser Svetlana Bova, Chief Data Officer of VTB bank tells].
2016: Effective management of data increases sales by 3 times
According to the researches Experian in which 1400 organizations from eight countries of the world participated, the companies realize the economic potential of information more and more: according to 79% of respondents, by the end of decade data on the client will define the most part of decisions on sale. However at the same time almost all respondents - 90% - still consider that they have not enough constructive approach to effective management of data.
On average, nearly 25% of data on clients to contain inaccuracies. Among the most widespread errors:
- incomplete or absent data
- outdated data
- duplication of data
- contradictory information
According to the research Experian, the company believe that could increase sales almost by 29% in the presence of exact client data.
According to estimates, in 2012 the impressive amount of data of-2.5 quintillions bytes – and it was created every day when mobile communication, according to estimates, covered 61% of the population of the globe. If to recognize that by 2017 this digit will increase up to 70% it becomes obvious that amount of data in the next years will exponential grow.
Such "explosive" growth of data is a call for the companies. As noted 84% of respondents, their organization considers the business strategy given by the integral component now. With respect thereto 82% of the companies in the next five years are going to employ data specialists. As set the previous research Experian, the importance of the Chief Data Officer (CDO) who develops work with data within strategic activity of the company grows today, providing improvement of financial results.
Data management also becomes complicated because of the growing information volumes and changes in use of communication channels. According to 39% of respondents (against 10% last year), their organization has 50 or more bases of contacts. Besides, use of social networks for the last 12 months grew by 81%.
75% of respondents this year during the research Experian called e-mail the communication channel which is the most widely used for the purposes of marketing. At the same time 73% of this group can give an example of a negative impact of inexact data on business. The bad quality of data on the e-mail addresses involves not only decrease in revenue, but also such business problems as bad customer service, impossibility of implementation of communication with subscribers and useless expenses.
97% of the organizations aim to see the client in general therefore effective use of the data allowing to consider each client as the individual with the specific features and to develop commercial offers taking into account special needs of each such client moves to the forefront.
As the advantages connected with such complete understanding of the client growth of loyalty, increase in sales volume and a possibility of strategic decision making were called. Therefore business companies recognize importance of exact knowledge of clients and their influence on financial results of the organization.
2013: Specifics of financial institutions
In December, 2013 Qlik (QlikTech) published results of a research which showed: in spite of the fact that after the world financial crisis data management was of particular importance, more than two thirds (63%) of heads of financial companies do not consider it necessary to consider this question at the level of the top management.
According to the research conducted for QlikTech by Lepus analytical company, a third (31%) of financial institutions was not distributed by roles and areas of responsibility in the field of data management in spite of the fact that many factors in business testify to need of data management for the financial sphere.
In addition to unprecedented increase in volume of daily processed data, the set of the regulatory legal acts connected with data management – such as Sarbeynza-Oxley's law, Rule 17a-4 of SEC, standards Basel by III and Solvency II and also the principles of BCBS 239 Basel Committee on Banking Supervision (aggregation of data on risks) is enacted. In response to it financial institutions had to create the general approaches in questions of architecture and data modeling; the solution of this task also provides data management.
The research was directed to studying of data control programs in banks of Europe, North America and the countries of the Pacific Rim. It showed need to consider the matters and to take for them responsibility at the level of the top management to provide compliance of infrastructures of data management to the business purposes.
It especially is important taking into account that the research revealed a set of the business factors promoting program implementation on data management and also a number of the major functions in a management structure. Existence of such business factor as need to provide normative and legal compliance and decrease in legal risks, 94% of heads of banks recognized. The following on the importance were called ensuring coordination of data in scales of all organization (88%) and increase in openness and transparency of financial data and information (63%).
However basic function of infrastructure of data management for different participating banks of a research substantially differs. 44% of respondents of one of two main functions called risk reduction, and another – implementation of benefit for business, however only 13% consider primary function of infrastructure of data management ensuring normative compliance.
Paul Van Siclen, the development director of the market of financial services of QlikTech company, noted that after the world financial crisis data management became even more important task as financial institutions were forced to carry out the comprehensive analysis of the strategy for work with data. "But for lack of the agreed targets and without consideration of these questions at the level of the top management banks will hardly manage to achieve desirable result", - he believes.
Losses of the organizations from idle times and failures of IT systems
- Master Data Management (Management of the main master data) Directory of systems and projects
- Management systems for the normative reference information in Russia.
Leading players and main trends
- Data management
- Chief Data Officer (Chief Data Officer, CDO)
- Data Science
- Data scientist (data scientist)
- Chief Digital Officer of Chief Digital Officer, CDO
- The Chief Digital Officer (Chief Digital Officer, CDO) in Russia
- The chief information officer (CIO - Chief Information Officer)
- Chief information security officer (Chief information security officer, CISO)
- The chief financial officer (CFO - Chief Financial Officer)
- System administrator