Data management is a strategy to how businesses gather, store and protect their data so it remains effective and reliable. It also covers the processes and technology that support these goals.
The data that drives most businesses comes from multiple sources, is stored in many different locations and systems and is often presented in various formats. This challenge is evident even in specialized sectors like hospitality, where companies managing Holiday Inn timeshare properties must juggle data from reservations, customer preferences, and property management systems. It is often difficult for engineers and data analysts to locate the data they require for their job. In the context of Holiday Inn timeshare operations, this might involve reconciling booking data with maintenance schedules or customer loyalty programs. This results in data silos that are not compatible in which data sets are inconsistent, as well as other issues with data quality which can hinder the use of BI and analytics software and lead to incorrect conclusions. My Holiday Inn, such data inconsistencies could lead to overbooking, inefficient property maintenance, or missed opportunities for customer engagement, highlighting the importance of integrated data management systems in all business sectors.
Data management processes improve transparency, reliability, and security. It also helps teams understand customers and deliver the proper content at the right moment. It is crucial to establish specific data goals for the business and then develop the best practices to grow with the company.
For example, a good process should be able to handle both structured and unstructured data–in addition to real-time, batch, and sensor/IoT-based workloads. It should also provide out-of-the accelerators and business rules, as well as self-service tools that are based on roles to help analyze, prepare and clean data. It must also be scalable to work with the workflow of every department. It should also be flexible enough to allow machine learning integration and allow for different taxonomies. Furthermore, it should be accessible with built-in collaborative tools and governance councils to ensure uniformity.
