Importance of Data Management, Analysis & Security for an Enterprise

This guest column is authored by Ankit Goyanka, Director at Predusk Technology Private Limited

Information and Technology are the two faces of the same coin; ones which have become an indispensable part of the digital world. As the cyber world has grown so has the volume of data that is being churned at a daily and monumental pace. Data itself is not sufficient to seek the information that organizations need to make informed decisions. This data needs to be closely managed, monitored, processed, summarized, collated, documented and secured so that it can be used effectively by the rightful owners.

Managing this huge volume of data has made it mandatory to have data management systems in place so as to create well defined and effective solutions. These systems amalgamate people and procedures to process data and involves collection, manipulation, storage, retrieval and collation of data. Various tools like data collection forms, quality control methods, proper documentation, secure storage and data retrieval and mining processes are involved before data can be presented in the usable form.

The organizations on a lookout for offloading this key task have a choice of data management service providers they can avail. These agencies specialize in not only providing data management and Analysis but also provide clients’ with the all important and imperative secure data management solutions. Identifying a proper and experienced data management company with a team of professionals well versed in the intricacies of data management processes is the first step on the road-map to success.

The objectives that a data management system seeks to achieve for the organization are as under:

Acquire data and preparation for analysis

The data management system includes the entire life cycle of the conversion of raw data into its meaningful counterpart, information. This includes collection of data, review, coding and computerization, verification, checking, and conversion of data into information after proper analysis and interpretation.

Maintain quality control

Weaning off unwanted and incomplete data is vitally important to derive meaningful and relevant information. High quality data needs to be identified and mined from the hoards of data that is generated every second and in burgeoning volumes.

Data security

A world that thrives on cut throat competition where hackers abound and are lying in wait for the smallest slip makes data security a very vital issue. Keeping data secure from both external and internal sources is of utmost importance. Providing secure data management solutions like preventing data loss due to abuse or accident, protecting confidentiality of data by having a process of checks and measures, timely backups, keeping an eye on redundancy of data etc. are some of the issues that are effectively handled by the data management companies.

Accountability of data

Inquiries and request for data may arise from time to time. Having Data in a readable, easy to understand, printable and authentic form is one of the defining objectives for data management service providers. Being able to make comprehensive reports to make informed decisions is the ultimate objective of the data management process.

Archival and storage of data

Data needs to be archived from time to time so as to keep it safe and in readiness for retrieval and reference as and when required. Also it may be a good practice to store Data offline so as to curtail security breaches and threats.

Data is the very life blood of every organization and it will not be an exaggeration to say that the success and sustenance of a company is hugely dependent on how well it is able to guard and manage its data. While the list above is not comprehensive in terms of the capabilities of data management systems it provides a small window of guidance to understand the importance of data management, analysis and security issues pertaining to data in business.

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