Data management: 10 reasons why companies should invest

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Why invest in good data management in your company? Here are 10 reasons why it is essential to do so.
Nowadays, data is seen as one of the most valuable assets that companies have. Managing data , reading it correctly and using it, generates important advantages for business and operational decisions.

In fact, according to Forbes , the ability to capitalize on data insights and analytics “can make or break a company, which is why big data, artificial intelligence and predictive analytics have organizations today scrambling for an edge—or fearing disruption.”

Having an analytics edge is essential. And companies are looking for it. The results of one study reveal the underlying motivation: 58% of leading analytics companies saw a direct correlation homeowner database data analytics initiatives and a “significant improvement” in their competitive positions. In fact, 60% of these organizations reported revenue growth of more than 7%, while more than a quarter of the analytics elite saw revenue growth of more than 15%. In contrast, 18% of so-called “followers” ​​saw revenue increases of less than 5%.


In a digital-first world, maturity is achieved with effective data management
Knowing the customer and valuing their feedback
Maximizing customer insight is a major challenge for a growing number of companies, which must work to become a data-driven organization and operate with an ever-increasing complexity of data sources – customer complaints, employee feedback, sales and account management reviews, profit and loss data, market research, transactional information, general and industry surveys, online customer forums, etc.

In this field of data management and analytics, the consulting firm Gartner foresees a series of clear trends for the next 3 to 5 years. For example:

Anticipates that augmented analytics will make insights available to all business roles

Data management tasks will be automated using machine learning and artificial intelligence (AI) capabilities

Natural language processing (NLP) and conversational analytics will “democratize” access, bringing data analytics and business intelligence to more than 50% of employees.


10 reasons to invest in data management
Investing in data and analytics projects is almost a strategic imperative in the current context. But if we were to outline the essential reasons, they could be summarized as follows:

Raw data is like oil: it has little value if it is not processed. The more refined the data is, the more valuable it is to the organization. Having a data quality policy and promoting data optimization is essential for a company seeking long-term and sustained growth.