Meta Description – Navigate the complex landscape of enterprise data management solutions with our comprehensive guide.

Introduction

In today’s society, the average human generates around 1.7MB of data each second. The same may be said about the numerous organizations that surround us. Every day, modern organizations, regardless of size, generate a tremendous quantity of data. 

According to studies, enterprises produced more than 97 zettabytes of data globally in 2022 alone, and this figure is expected to grow by leaps and bounds. The global corporate data management market was worth $79.7 billion in 2021 and is expected to grow to $224.5 billion by 2031, with a CAGR of 10.8% from 2022 to 2031. 

The market size alone demonstrates how enterprises throughout the world view corporate data management as a method to achieve development and efficiency. The demand for compliance in the local market has grown dramatically in recent years, and data is at the heart of these new regulations. 

From SMBs to large organizations, this necessitates the development of a solid corporate data management strategy. But what exactly is it, and how can businesses utilize one to make the most of their data? Continue reading to learn about our take on EDM and how it may be a force multiplier in your organization’s success narrative. 

What is Enterprise Data Management?

Enterprise data management (EDM) is the process of inventorying and regulating your company’s data, as well as bringing your whole organization on board. In other words, EDM is about managing people as much as it is about managing data. Data management entails ensuring that your employees have access to correct and timely data, as well as adhering to your requirements for keeping quality data in a standardized, secure, and managed location. In this fast tutorial, we’ll address frequently asked questions regarding corporate data management and lead you in the direction of more resources.

Why is Data Management important in the Enterprise industry?

Data management is critical because data is critical. To make educated operational and strategic choices, organizations of all sizes require fast access to high-quality data. According to a Capital One poll, data governance is a top problem for 82% of data management decision-makers. 

Any firm can suffer from a lack of adequate data management, which leads to poor decision-making and operational inefficiencies. It can also result in a vulnerable security system, exposing data to breaches, ransomware assaults, and other cyberattacks. 

Several advantages arise when a company emphasizes data management, including:

• Access to critical information has been improved.
• Advantage versus organizations with poor data management.
• Improve productivity.
• Cost savings.
• Data loss is less likely.
• Better data protection and more focused marketing.
• increased client happiness and service.
• Improved regulatory compliance.
• Stronger data analysis.
• Day-to-day procedures that are more efficient.
• Better-informed choices.

What are the key aspects of Enterprise Data Management?

The approach to data management in large firms is similar to that of smaller businesses and people but on a greater scale. Enterprise data management consists of seven critical components that, when integrated, guarantee prompt access to consistently correct data. 

Data Integration

Data integration is the process of combining data from several internal and external sources into a unified data repository. This is required to give enterprise-wide access to the company’s data and a single view of that data. 

Data Governance

Data governance describes the rules, methods, and procedures that an organization uses to manage its data. This is required to maintain data quality, integrity, and security while also adhering to all governmental and industry laws. 

Data Lifecycle Management

Data lifecycle management (DLM) is the process of managing specific data from inception to retirement. DLM is required to maintain data integrity and security. 

Data Security

Data security refers to a variety of technological and strategic techniques used to secure an enterprise’s data against unwanted access, cyberattacks, and corruption. 

Metadata Management

Metadata is information that describes other data and provides a context for its contents. Metadata management is required to guarantee that critical metadata is created, stored, and accessed in a timely and correct manner across the company. 

Master Data Management

MDM is a method of managing and reconciling data from numerous sources in order to create a single source of truth throughout the company. To remove data silos, increase data quality, and streamline data access, MDM is required. 

Data Quality Management

Data quality management (DQM) assures that the enterprise’s data is of the greatest possible quality when it is consumed, generated, and used. DQM validates data for correctness, completeness, consistency, timeliness, uniqueness, and validity. 

Conclusion

Enterprise Data management is a highly specialized sector that necessitates highly specialized skill sets to get the desired outcomes. Choosing the appropriate vendor may be a make-or-break scenario for any organization hoping to get a return on investment from its data management service. 

Choosing the correct consultant or vendor with the appropriate expertise and track record is essentially half the battle in such initiatives. To assist an organization in accomplishing its goals on all levels, a fully deployed enterprise data management platform must function like a well-oiled machine. 

Oriental Solutions has several years of domain knowledge in developing unique solutions for a wide range of clients in the UK, USA, and India. If you are looking for a vendor that can assist you in making such a complicated project go smoothly, please contact us. We would gladly answer your questions and develop a strategy to offer the optimal EDM solution for your company.

Ready to elevate your enterprise data management? Contact Oriental Solutions for expert guidance and tailored solutions. Let’s transform your data strategy together!