Ninety-three percent of companies had data management issues as a result of the pandemic. Our latest data management research uncovers how investing in data management initiatives today will help your organization through the next crisis and build data resilience. With enormous consumer behavioral changes across every industry, now is the time to invest in your data management program.
Why is there an urgent need for better data management?
1. Understanding customers better: Data-driven businesses have the insight to understand who their customers are, what they need, and can pivot strategies to meet customer expectations.
2. Collaborating for societal good: Reliance on valid data and data-driven practices helps businesses and our society at large.
3. Investing in talent, skills, and tools: Providing such resources enables data experts and business users to effectively manage and analyze the right information to make business decisions.
Investing in data management initiatives today will help businesses better weather the next crisis says 77 percent of our respondents (Hint! We can help). Strong customer interactions are dependent on trusted data and our ability to serve that data when needed. With agile data management practices in places, your business will have the key to data resilience and a strong future. We can help you get started on your data management initiative.
What does your organization need to improve data management?
In 2020, organizations saw that they did not have the trusted data that’s required to accurately and rapidly adjust to the ever-changing market and customer needs and nine out of ten businesses are focused on improving data management resilience to at least some degree over the next year.
In order to have accurate, up to date, and usable information within your organizations databases and data management processes, organizations need to consider their use of people, technology, data ops, and how they can get back to basics.
1. People. Our research shows that 85 percent of organizations are hiring critical data roles in the next six months. Data experts are essential, and employees must know how to understand the data insights in order to leverage the analytics.
2. Technology. Automated data management tools offer data sophistication as opposed to a personal productivity tool, such as Microsoft Excel, which is not agile enough in its data management practices and requires manual updates.
3. Data ops. The automation and monitoring of data practices to help organizations adapt more quickly to changing conditions.
4. Get back to basics. In a time of uncertainty, it’s important to invest in the right areas to recognize a return on investment.
In today’s uncertain world, organizations need to build a stable foundation of data that they can leverage and rely on as they react to this ever-changing market. High quality data management practices is the solution. Trustworthy data provides organizations with a secure pillar in an otherwise uncertain time. Invest in data management now and secure your data for the future.
