The level of data management in your company is: Uncontrolled
What does this mean?
Just like any other company, your business has gathered a lot of data and you have to deal with it on a daily basis. You manage it in some way or another, but this is mostly an intuitive process and is not controlled in a formal way. You do things because you feel you need to do them, but your actions are not directly recognized as data management. It is time to realize that your data is an asset and that you can start using it to bring value to your business.
Think of the following benefits that you might get when you start using your data in a smart way:
- You can increase company revenue by improving your customer experience;
- You can decrease operational costs by optimizing your data requirements and application landscape and reducing the time spent on the resolution of data quality issues.
- You can reduce operational risks by decreasing the level of manual work in data processing and improving your compliance with with regulations (e.g. GDPR).
To achieve it you should start to embed data management practices in your business.