Data is a strategic
asset and business
component.
For correct and timely management decisions and the further development of a company’s business, it is essential to have comprehensive, correct and the latest data available.
Data management includes technologies, processes and measures. These aim to ensure a data life cycle that delivers maximum benefit. Data must be collected, appropriately stored, processed and continuously monitored for integrity and consistency. Data management can be implemented comprehensively or incrementally by individual logical units. Each of these independently delivers a major benefit for a company’s core business.
Data integration
The integration of various data sources into operational and management processes enables the organization to obtain comprehensive and reliable information when needed. The target status is data sources integrated so that processes are centrally controlled, and respective data transfer is maximally monitored, auditable and automated.
Data quality
Data usability is significantly limited by data quality. The introduction of a solution to ensure data quality includes setting its criteria and evaluating fulfillment, introducing data cleaning procedures, as well as monitoring the development of data quality.
Master data management
Master data is typically used by multiple applications. If these systems also change data, their management must be ensured so that each system works with the same master data. Master data management aims to ensure the uniform administration of "a single version of the truth of master data and code books". So operating systems of such controlled master data use up-to-date, clear and reliable data
Introduction of Data Governance
Data Governance means the overall management of data content, availability, management and quality in accordance with the company's chosen strategy and direction. Data Governance aims to identify clear key data for business needs, and to set processes for managing this data and the responsibilities of defined persons.
