5 Data Management Challenges Businesses Face in 2019
Read the informative article about 5 Data Management Challenges Businesses Face in 2019. This leaves organisations dealing with a high degree of inaccurate and disparate data and there are a number of challenges to maintaining it.
Creating a data-driven culture has become an essential prerequisite for business organizations. However, achieving the objective cannot be possible without overcoming data management challenges. Since the time enterprises identified information as an asset, they have tried to manage it efficiently. Their quest for better information handling mechanisms has led to lots of technological advancements in the field. It has also resulted in the emergence of data management consulting companies that have experts who are studying the technical as well as the human aspect of the practice. With the passage of time, information management has become more sophisticated and organizations have also become adept at finding new ways to use their data. On the one hand, this has helped businesses enhance their capabilities but on the other has also led to the growth of new issues. The following are some major obstacles that businesses must surmount in 2019 to successfully manage their data.
1. Constant Increase In Data Volumes
The advancement in digital technology and the emergence of cloud storage has definitely eased things for organizations. It has also helped them in discovering new data elements and sources. This has enabled organizations to get new insight into their operations. However, this has also created a new challenge for them. The constant increase in data volumes has led to databases being inundated with useless and duplicate information. Businesses also struggle to keep pace with the discovery of new elements and are often late in making thorough assessments. Enterprises will have to tighten their ingestion procedures and make sure that only valuable items are granted entry. This will help control the flow of information and ensure only good-quality data is stored.
2. Growing Popularity Of Cloud Makes Governance Difficult
In the beginning, enterprises established on-premises infrastructure to store their assets. They felt the need for a new solution when their information started growing at a fast pace and scaling up the databases started becoming increasingly difficult. Cloud came as a major relief to businesses that were looking for a cost-effective storage solution. Now they could easily scale up their infrastructure whenever the need arose. This convenient feature has also created a new challenge for businesses. Small firms, usually, opt for public clouds which are shared environments. Even hybrid and private clouds are partially shared. Organizations have to ensure that their assets are safeguarded from unauthorized access. They have to make sure that their service provider has an efficient mechanism in place and follows the industry best practices.
3. Maintaining Databases To Ensure Optimal Performance
Ask any business about its valuable assets and it will definitely list data as one. You will not find too many organizations mentioning their databases as critical components. When you pose a specific question they will identify their database as a vital asset but most of the time database management is low on their priority list. It is common for businesses to overlook the maintenance of this key component of their data infrastructure. Businesses must create a time-based process to check the health of their databases and take the necessary steps to maintain them. This is one of the stiffest data management challenges that enterprises face but are unaware of.
4. Aligning Data Management With Legal Regulations
Protecting their information has become one of the key objectives of all organizations. Since corporations started considering data as an asset, it has become an attractive target for unethical users. After numerous high-profile data theft cases were reported from around the globe, some jurisdictions enforced privacy laws. These regulations specify the manner in which personal information of individuals can be accessed by organizations. They also make the entity accessing the data responsible for its protection. At present, the most notable legal regulation is the European Union’s GDPR. Many more jurisdictions are expected to follow suit and businesses will have to align their information management systems with all the applicable laws.
5. Eliminating Human Bias From The Decision-making Process
The technological tools and processes help businesses get insight into their information assets. These solutions analyze the data to spot patterns and trends. The human users then draw inferences from these evaluations to prepare a roadmap for the future. What if human resources make incorrect assumptions based on correct analyses? Many enterprises are unknowingly facing this issue. They replace the technological solutions thinking that the tools were at fault. It is natural for human beings to have preferences and inclinations. These personal choices or biases can creep into the decision-making process and decrease its efficiency. People can make a decision that reflects their personal beliefs or thinking. Organizations have to first understand that it is human users who are making inaccurate conclusions. Then they have to ensure that this kind of prejudice is completely eliminated from the decision-making process.
Managing business information is the key to better performance and success. However, enterprises have to be aware of the new data management challenges that are emerging. Only then can they create an efficient program that overcomes all obstacles.
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ABOUT THE AUTHOR
Hi, I am Sophia Wilson. a data manager at EWSolutions - Leading data management services provider agency in the USA.