In the digital world, data management is very valuable resource. This is why it is seen as one of the most important assets of an organisation. It is the base of information and the basis on which people make decisions. Hence it would follow that if the data is accurate, complete, organised and consistent, it will contribute to the growth of the organisation. And in case of the opposite, it would become a very big liability; bad organisation of data can lead to making harmful decisions because of incomplete information.
They have 6 reasons why data management is important to any organisation :-
1. Increases productivity : With valuable data management, the company will be more organized and productive. An also, the employees will have an easier time finding, understanding, and relaying information.
2. Smooth operations : It is one of the determining factors in ensuring the accomplishment of an organisation with in if one takes too long to respond to their customers or to the changing trends around them, they run the risk of falling behind. A risk that one cannot afford. A good data management system will sure that respond to the world accordingly and stay ahead of the competition.
3. Reduce security risk : It is the first time in history that so much personal information is available to those that can access it. The proper data management helps ensure that your information stays secure and never ends up in the wrong hands. A strong data management system will help protect your information from theft and attacks.
4. Cost effective : From this case, data management can help organization avoid unnecessary extra costs such as unneeded duplication. When data is easily accessible, the organization no need to worry about employees conducting the same research over and over again.
5. Minimal chance of data loss : With a good data management system will reduce the chances of losing important company information. It also ensures that data is backed up and in case of a sudden glitch or system failure, any data that is lost can be retrieved easily, limiting the repercussions of the same.
6. Better decision making : Better decision making: With the proper data management helps ensure all employees and workers view and analyze the same, most recent information. It will help company to be making the most accurate decisions based on the most accurate information.
Data Management Function
The data management function is a basis set of organization processes, such as Finance, Human Resources, or Facilities Management, that provides resources to facilitate the formation and acceptance of best practices across data management disciplines. The scope of the data management act will vary according to the size of the organization and its span of control over patient demographic data assets.
The essential concept of data management is to assign accountability for persistent work products that the organization builds and maintains over time. Examples of these work products include data management policy and process documentation and quality rules that are developed to improve the quality of patient demographic data.The resources should be based on the organization’s goals, objectives, and priorities. For example, an important task would be to create quality rules to address defects discovered in a central data store receiving patient demographic data from multiple sources.
Most of organizations, the data management function has typically originated within digital and was closely linked to the design and implementation of data stores. As organizations have moved toward appreciating the criticality and value of their data assets. The appearance is increasingly becoming a business-centric leadership role for implementing data management capabilities and conducting compliance activities. For example, the function maintains the continuity of governance activities, such as the creation and maintenance of the organization’s business glossary and metadata.
However, the achievement of data management depends on business holding of its goals and objectives. The lines of accountability and responsibility for data management activities are typically communicated in an organizational chart, an interaction diagram, often using a Responsible, Accountable, Consulted, and Informed (RACI) matrix. If organisation is looking to stay ahead of the curve and requires a good data management system, or continuous monitoring for the system performance, availability or perform security testing and continuous protection, please feel free to contact E-SPIN for your inquiry and requirement, so we can assist you on the exact requirement in the packaged solutions that you may require for your operation or project needs.