A corporation's processes must involve data, steps, statistics, and architectures. For the company to function correctly, this data must be managed. This article explains how important Data Management Service is worldwide and for different industries.
No matter the size of the company, the management of its standardized and customer data is a fundamental basis for the functioning of the corporation.
In the following, we will look at topics such as:
- What are Data Management Services?
- Types of data management
- Data Management System
- Importance of data management
- Implications of data management
What is Data Management Service?
It is a set of practices that allow data to be collected, organized, protected, and stored for analysis to develop and execute different policies, procedures, and architectures within the enterprise.
Data organization ensures that data is accurate and consistent, that people have easy access to it according to company procedures, and that data can be adequately protected. Data management also eliminates duplicates, standardizes data, and serves as a basis for data analysis.
There are eight types of data management:
- Data preparation: this is used to clean and transform the data, i.e., to make corrections and combine it so it can be analyzed.
- Data pipelining: in this type of data management, data is grouped from various sources and transferred to a data warehouse or repository for analysis. This statement allows data to be passed from one system to another.
- ETLs: take data from a system, transform it, and load it into a warehouse of the organization or company.
- Data catalog: this is a summary of the data, allowing us to see the changes that have been made, the locations of these, and the quality.
- Data warehouses: these are the places where data of different types are gathered in an orderly manner.
- Data governance: at this stage, the different forms of rules and processes that will be used to maintain data security and integrity are defined.
- Data architecture: a structure is created to manage data flow, depending on the data type.
- Data security: this protects access to data from unauthorized parties.
The types of data management make use of different systems, which we will see below:
- Customer relationship management system or CRM: This database generally contains data on all customers, sales opportunities, conversion data, revenue, new offers, subscriptions, and leads. In addition, the CRM includes marketing and customer behavior data.
- Marketing technology systems: These types of technologies are in charge of email, marketing automation, and advertising, which generally go hand in hand with CRMs. In this way that more integrated campaigns can be executed. All this helps to obtain audience data and keep them updated.
- Data warehouse systems: this is a principal repository of data from different sources such as trading platforms, financial applications, marketing systems, sales, and purchasing, among others. Also, this helps to obtain data on customer behavior concerning the products and services offered by the different companies.
- Analysis tools: to analyze data, visualize it and create reports, marketers use different tools to obtain information for various campaigns.
Why is data management critical?
Data management is crucial for the analysis of data in a practical way. Also, this allows access to them to create strategies for the company, and customer management, among others. In addition, it provides different advantages such as:
Visibility: operational data can be visualized, making it easier for people to find what they are looking for quickly and thus analyze the data to do the work required by employees.
Reliability: once the data has been processed, possible errors are minimized, thus creating confidence for the company in the future use of the data.
Security: Managed data is protected against loss, theft, or tampering through various authentication and encryption tools. Also, this ensures that the company's information is backed up and can be recovered in case something happens.
Implications of data management
Data management is a fundamental basis for ensuring that the company's resources and the time of its employees are well spent. Since the consequences of bad data management imply processes that take more time internally, the expense of resources, inadequate management of these, and errors at the time of the creation of campaigns since the data cannot be considered well segmented, the reports would have errors, and as a consequence of this, it would be the dissatisfaction of the clients.
>>Leveraging your CRM data in a Big Data strategy<<
In conclusion, this is why data management is essential for companies and makes a difference in its use and implementation. If you are part of a company, I invite you to implement data management to be more effective, and your strategies can have positive consequences.