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Winning in the New Era of Enterprise Data Management

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Today, data drives most modern enterprises. Though many organizations spend heavily on building a robust data core, most still find their efforts fall short of expectations. Just merely tweaking data models and blindly disseminating information does not suffice. Strategically redefining the way data can be gathered, stored, analyzed and circulated is the only way forward. This is where strategic Enterprise Data Management (EDM) comes into the picture. EDM is the process of obtaining, integrating, stockpiling and governing business data for internal applications and external communication. The concept exists to ensure that all data assets within the organization remain credible and secure. This enables organizations to build a data architecture tailored to their needs and unlock innovation with least risk and highest ROI.

This is what forward-looking organizations can do to strengthen their data management strategy and become data-powered enterprises:

Deploy AI-ML to manage data

Many organizations dream of building next-generation, robust data ecosystems. To realize this dream, they need to lace their enterprise data management solutions with Artificial Intelligence and Machine Learning. This will empower them to sort and catalogue vast amounts of unstructured and structured data in record-time, allowing data managers to scale tens of thousands of data points for higher-level analysis. Integrating AI-ML into existing data platforms can also help organizations effectively manage intricate data sets, automate trivial or repetitive tasks and simultaneously flag confidential information.

Equip data users with self-service tools

Organizations are enabling their new “citizen” data users – who have little to no technical prowess – to ingest, prepare, and model data for their business needs. Regardless of their location, these users can employ self-service tools to drive better data discovery, analysis and stewardship. This helps organizations to build reliable data meshes that facilitate faster insights-sharing and decision-making. Further, data users can free themselves from creating boatload of reports and focus on more important tasks centered around accelerating transformation and boosting business growth.

Decentralize data management for better governance

Most organizations have a monolithic architecture, a single-tiered application system that wasn’t designed to be integrated in the first place and is difficult to scale. This often results in creation of siloes, complex schemas and recurring downtimes. To counter this, organizations can opt for decentralized data management solutions. This gives business users the autonomy to store data in the systems of their choice. Organizations can monitor which individuals have the access to read or edit certain fields or share information with external agencies. This eliminates the arduous tasks of upgrading shared databases, help organizations build fault-tolerant, scalable databases and drive independent decision-making across all business units.

Take advantage of metadata

Metadata, “data-about-data’, is the glue that holds necessary data pieces together. Therefore, organizations are aiming to improve their grip on it. Metadata ensures that business users can fetch, preserve, use and re-use data at any time in future. This makes it easy for organizations to decide where to find data, what data to produce and what data to consume, ensuring that data becomes a valuable enterprise asset. Investing in metadata management services can help organizations extend data longevity, retrieve data at speed of thought and easily meet regulatory and compliance standards.

Conclusion:

Organizations must adopt a holistic approach to implement integration of multiple data sources, deploy trusted data-sharing across the enterprise and adhere to advanced data quality and governance standards. By investing in above mentioned techniques, they can improve the performance of their data assets and transform processes into seamless flows – leading to promising outcomes.

Innover’s comprehensive suite of Enterprise Data Management services help organizations to map the lineage of their existing data, introduce a trusted data foundation and proactively manage data throughout its lifecycle.