- Enterprise data management(EDM) is the ability of an organisation to precisely define, easily integrate and effectively retrieve data for both internal applications and external communication.
- To maximise the efficacy of any data management solutions, it’s crucial to aggregate data from diverse sources and formats and integrate them into a centralised repository for streamlined access.
- Data originating from diverse sources often arrives in disarray, lacking organisation, structure, and sometimes accuracy.
OUR TAKE
Not only do special organizations need data management, but ordinary people should also improve their awareness of data management to avoid data leakage and its effects on daily life.
–Miurio Huang, BTW reporter
Enterprise data management(EDM) is the ability of an organisation to precisely define, easily integrate, and effectively retrieve data for both internal applications and external communication.
1. Data governance
As the cornerstone of effective data management, data governance involves establishing policies, roles, and procedures governing data usage. It safeguards data privacy, integrity, and security, ensures compliance with regulatory requirements, upholds ethical responsibilities, and fosters accountability, facilitating smooth data flow across the organisation.
A Data Governance Framework serves as a blueprint, offering structure, processes, and guidelines for managing an organisation’s data assets. Through the implementation of a robust Data Governance Framework, organisations can more effectively oversee their data resources, mitigate risks, enhance data quality, and optimise decision-making processes.
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2. Data integration
To maximise the efficacy of any data management solutions, it’s crucial to aggregate data from diverse sources and formats and integrate them into a centralised repository for streamlined access. Data integration involves amalgamating data from disparate sources, standardising it into a cohesive format, and storing it in a centralised repository while upholding standards of quality, governance, and compatibility, thereby enhancing decision-making and analysis capabilities.
Data integration harmonises disparate data sets, empowering stakeholders to extract actionable insights and business intelligence. It fosters error reduction, time savings, and improved system collaboration. Various data integration methodologies exist, including propagation, virtualisation, consolidation, and federation.
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3. Master data management
Mastering Data Management (MDM) involves the systematic organisation, categorisation, centralisation, and transformation of data, particularly as it often originates from disparate silos. MDM aims to elevate data quality and derive actionable insights crucial for informed decision-making. Referred to as master data, it serves as a cornerstone for fostering data uniformity across various segments and streamlining analytical processes for employees. Through a blend of specialised tools, procedural methodologies, and software solutions, MDM endeavors to eradicate data redundancies and optimise data utilisation throughout the organisation.
4. Data quality
Data originating from diverse sources often arrives in disarray, lacking organisation, structure, and sometimes accuracy. Leveraging such data in analytics can compromise their reliability and profoundly affect business outcomes. In the realm of EDM, preserving data quality and integrity demands a harmonised approach encompassing technical tools, procedural frameworks, and governance protocols. This multifaceted strategy aims to sustain the accuracy, reliability, and trustworthiness of data for informed decision-making and seamless business operations.
Therefore, it becomes imperative to uphold the quality and integrity of data continuously through practices such as data cleansing, enrichment, and rigorous quality assurance measures.
5. Data security
With the persistent threat of cybercrime and the ever-evolving regulatory landscape, ensuring data security remains a top priority in EDM. It’s imperative to safeguard data integrity during storage and transit to mitigate risks of breaches, leaks, theft, or destruction. EDM can employ various measures such as encryption, virtual private networks (VPNs), data lake services, and two-factor authentication to bolster security defenses. Additionally, emerging technologies like blockchain offer promising solutions with their cryptographic and decentralised features. By implementing comprehensive data security and privacy protocols, organisations not only shield sensitive information but also foster trust among stakeholders, including customers, partners, and regulatory bodies. This proactive approach not only ensures compliance but also minimises the potential impacts of data breaches and privacy infringements.
