Determining whether to bring data management in-house or hiring an outsourced company to implement it can depend on the level of expertise you have available to you. While most companies have a trusted IT team, they may not always have the experience to implement or support a data management system.

While data management may seem, on the exterior, like it should take only a basic digital filing system, the process is significantly more complicated than that. Not only does data management include the organization of data, but it also includes the collection of business data from its countless sources into one place, processing it in a way that lets it all “work together,” then storing the data in a safe and secure way—while allowing it to be accessible by the people or individuals who need it. 

Why is Data Management Difficult?

Data management is difficult because of the diversity in data that companies use. Most companies use several different types of data from multiple data sources, many of which are incompatible with each other. Consolidating and organizing this data—as well as translating it into useful, actionable information—can be a difficult undertaking.

Besides the arduous process of locating all the different data sources, a data management expert will also be required to automate a method to process this information in a way that allows it to organize clearly and concisely, integrate, and combine for actionable business insights.

Ever-Changing Data Sets

Another challenge that makes data management difficult is changes in data sets. In most cases, the data a business has access to will regularly go through changes, whether this is because of additions of products, processes, employees, or geographical locations—or even due to a change in Customer Relationship Management (CRM), Enterprise Resource Planning (ERP), or other systems.

On top of changes to data, data management experts also know to expect changes in data management technology. Business-related technology is a dynamic field, with providers constantly searching for better, faster, more effective ways to provide results. A data management expert will need to stay up to date on these changes and make judicious decisions about which to implement, and when.

Managing a Data Management System

In addition to the complication of setting up a data management system, it can also be difficult to manage the system. Data management systems must be regularly maintained to account for changing data loads and memory, troubleshoot errors or challenges, and provide support to the users of the data management system. It also requires monitoring the data management system for vulnerabilities or threats and resolving those challenges before they compromise the data.

Find a Data Management Expert

Finding the right data management expert for your company depends on the complexity of the data you have—and the data you need. It also depends on the resources you have to support this system. Some companies choose to hire a Chief Data Officer (CDO) to oversee the data management process. Others may choose to hire IT professionals with significant data management experience. However, many companies are choosing to outsource this role to data management services companies.

If you’re interested in discussing how Data Meaning can help optimize your data management processes, please reach out for a free strategy consultation!

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