Data management is a challenge for many companies. However, there are reflexes to have in order to guarantee sound data governance!

Illustration with a computer screen, a statistical curve and clouds

For 25 years, Libéo has been working with the largest organizations to develop tailor-made digital products (software, applications, etc.). However, our observation is that it is difficult to develop such products if your organization has not yet implemented sound data governance. It is for this reason that we present an article on this subject. With your company’s classified and released data, we’ll be able to help you get into the next gear with a high-performing digital product.

What is Data Management?

Data management (or data management ) includes all the tasks and processes of collecting, structuring, managing and using data. In fact, it involves managing data over its entire life cycle. Because yes, data has a life cycle!

Data life cycle – Adaptation of Libéo from UK Data Archive

This cycle expresses how your data flows through your company. Each step can involve one or more of your departments, hence the importance of having an overview of the flow of information to be able to better manage it on a daily basis.

It is also important to understand that data management does not only affect well-encrypted strategic information known as structured data. They only account for 20% of your data ! The reflection also covers all your unstructured data , such as emails, written reports or client pitches that you have recorded. It is therefore a mistake to limit data management to the analysis of your CRM!

The benefits of good data management

There are many benefits associated with good data

Improve your adaptability at all times, and especially during a crisis

Anticipate potential operational and reputational risks

Strengthen your understanding of market players, including the competition

Increase efficiency and productivity by improving your processes

Limit technology expenses by maximizing storage and tools used

This list could be even longer! Your company has everything to gain by implementing sound and optimal data management. You will be able to see improvements in both your strategic and operational activities.

Establish data governance

To demonstrate good data management, you should have your data governance in your hands. Data governance includes the list of procedures that govern the management of your data, from their collection to their archiving or deletion. Its objective is to help ensure the availability, relevance, user-friendliness, integrity and security of all the information you hold and which circulates within your walls. It is thanks to solid data governance that you will be able to turn your data into strategic assets and make better decisions!

You should therefore take the time to establish good data governance. But don’t be afraid! Our next sections will help you adopt the right reflexes!

Some tips to better manage your data

As you have understood, managing your data well means defining clear procedures to govern them. These procedures must be the conclusions of your discussions and decisions made between your teams. To frame your discussions, we recommend that you start from these 4 elements:

Ensure access to this data in a secure and optimal manner

Ensure the storage of this data in your technological infrastructure

And it is by following these 4 imperatives that we will give you as much advice as possible!

Choose the right data for your decision-making

There is no point in having all the data possible if they do not lead to any decision. It is important to clearly understand the needs of each of your departments to determine the list of data that you must collect and process. To do this, everything must start from the direction.