Data is vital to the success of your organisation. From serving customers better to achieving competitive advantage, from gaining product insight to staying compliant, good data delivers endless value. However, data management is a major challenge. With information volumes exploding and IT budgets under constant scrutiny, it's important to find the right solution for your business.
To better understand the concept of data management, it's worth looking at its history. Many years ago, at the dawn of digital information, IT systems reports were written using generic ‘bits and bytes’ programming language. They took ages to create, and even longer to check. By the time the average report was ready to publish, it was already out of date.
As technology advanced, more efficient methods emerged, and applications developed to support them. Now, reports could be produced much faster and more accurately, meaning businesses demanded more from their available data. Dedicated reporting tools were created to deliver this objective. They revolutionised reporting capabilities by automating their production. Human resources could now be put to better use - on other reports.
The availability of information in turn drove an increased hunger for it. Organisations wanted to learn more. They wanted insights to improve operations, innovations to improve performance. But their desire was stronger than their design. Systems could not work efficiently enough to give them what they wanted. Glitches occurred. In response, the ‘Data Warehouse’ was born, which reformatted raw data to make it more report-friendly. This new freedom meant business information thrived again.
Self-contained tools, known as Analytics and Data Warehouse Suites, were developed to underpin this. They still do so today.
However, despite these impressive advances, this data-driven world of BI management is not doing too well. Many organisations are disillusioned with data management and are either consciously or unconsciously failing to get value from their business data assets. But yet, they still carry on trying, based on technology approaches that have now been overtaken.
Insource can help ensure your business is one of the success stories.
We've identified six secrets of successful data management, and we're ready to share them with you. Keep visiting our blog to discover how to greatly increase your chances of generating insightful, cost-efficient BI and data projects, from day one.