Data and information have already become invaluable assets for major brands and organizations. They are the foundation through which companies develop their strategic planning, manage risks, launch new products and trends, and oversee overall business operations.
However, it is useless to have data if it is not organized for analysis and segmented according to the types of decisions that need to be made. After all, utilizing all data simultaneously may not be the best choice.
Data Management
How does Data and Information Management work in your company? Each department has its own data, and when necessary, it is manually cross-referenced… there’s also the option to collect data only when it is needed… and what about the reports?
These questions may have caused some confusion, and that was the real intention behind asking them.
Currently, Data Management must be conducted continuously, with its processes clearly and systematically outlined.
It is also crucial to define where the data will be stored and who will have access, as we know there are sensitive data that must strictly adhere to LGPD guidelines, ensuring their security and integrity.
Another aspect to consider is the security of this information’s storage, particularly with regard to cybersecurity, given the growing wave of hacker attacks.
Contrary to the ideal scenario described above, the reality is that many companies still use Data Management in a very basic way, without standards that would allow the full potential of their data to be realized.
They end up collecting information only for new launches, analyzing consumer behavior when there are financial problems, and seeking new opportunities only during times of crisis.
As a result, one could say that data analysis and management are done halfway, without efficiency, potentially compromising results and even leading to incorrect decisions.
Key Mistakes in Data Management
One of the main mistakes made in this area is the failure to establish Data Governance, as this will directly impact its efficiency and the other problems encountered along the way.
Data Governance involves a set of actions that support accurate decision-making, ensuring that decisions are aligned with the organization’s strategies.
Data Governance ensures that the company has the tools and systems needed to perform the initial selection of information quickly and effectively, a task that used to take hours for IT professionals and related departments to complete.
This set of actions can also mitigate another major error, which is not knowing how to utilize the volume of data collected by the company. Faced with a large amount of information, automation can facilitate filtering and optimize analyses.
After data collection, it is necessary to structure the data clearly, ensuring that its documentation reflects reality, thereby avoiding internal communication issues or even the loss of information.
Additionally, a lack of planning, failure to continuously train employees, and resistance to technological solutions also negatively impact efficient data management.
How to Ensure Efficiency?
Certain principles must be followed to ensure efficiency in Data Management, many of which can be found in the book “The Why of Data Governance in Control Organizations” by Ricardo Dantas Stumpf.
Remember that data are critical corporate assets, capable of ensuring a successful journey for your company. Therefore, its structuring requires defined standards so that we can identify which data are relevant and need to be available to the involved departments.
To ensure its quality, management and collection must be continuous and attentive to industry innovations, considering that current techniques are constantly changing and being updated.
And Data Management is also a matter of culture! Just like strategic planning, the BSC, and many other topics discussed here on our blog, this too needs to be embedded in the company culture and encouraged by top leadership. It must be aligned with the practices and values of the entire organization.
Technology and Innovation
Amid the demands brought by Industry 4.0, also known as the Information Revolution, it is essential to have software that makes data management and analysis a routine, simple, and efficient task.
Interact, for example, offers the SA Analytics Manager, considered the BI of the Interact Suite SA. With it, in addition to managing your company strategically, you can also monitor its performance and anticipate scenarios, all with the assurance that your decisions will be based on accurate information.
Among the module’s advantages, we highlight its ability to gather and cross-reference multiple data sources to ensure quality, allowing the company to advance in its level of analytical maturity.
It also features integration with ERPs and CRMs, MS Excel integration, data integration, commercial performance, customizable analyses, dynamic operations, and interactive dashboards.
If your company requires agility in access, you can also rely on Interact Pocket, the mobile version of the Interact Suite SA.
Visit our website and discover our solutions.
Author:
Bianca Wermann
Journalist, Communication and Marketing Analyst at Interact Solutions.
