Enterprise Data Management Best Practices

Effective data management is imperative for enterprises to thrive.

Adopting and deploying the right data management processes is essential to ensure your organisation’s data is available, reliable, up to date, secure, and compliant with relevant regulations.

Implementing best practices for enterprise data management is crucial for fostering an environment where data is a pivotal asset for strategising and achieving long term goals.

Enterprise data management best practices include but are not limited to:

1. Prioritise data quality 
2. Create a data governance framework
3. Invest in high quality data management software
4. Ensure data security and privacy
5. Foster a data-driven culture 

1. Prioritise Data Quality

One of the most important best practices for data management is to prioritise data quality.

Data quality is the foundation of actionable insights and informed, accurate decision-making.

Considering that ‘organisations spend between 10-30% of revenue on handling data quality issues’, the importance of prioritising data quality cannot be overstated.

Conducting regular audits and data cleansing processes, for instance, will enable you to identify areas that require improvement and will help your enterprise maintain high quality data standards.

The impact of failing to prioritise data quality can be detrimental, causing costly problems ranging from poor decision-making all the way to reputational damage.

2. Create A Data Governance Framework

The next best practice for data management is to create a data governance framework.

A data governance framework outlines responsibilities, roles, as well as processes for collecting, storing, and using data within your enterprise.

It will define everything from data ownership to data quality standards to data access controls.

That said, the success of data governance relies on effective collaboration from several stakeholders, including data owners and users. 

How To Create A Data Governance Framework

Steps to creating a data governance framework include:

• Assess your current data landscape.
• Define data governance goals - Goals should be in line with your organisation’s overall objectives and will help to measure your success.
• Develop policies - These will cover data quality, access controls, data privacy and compliance.
• Establish roles and responsibilities - Define the roles of data stewards, users, custodians and administrators and assign roles for data quality, security, and compliance.
• Utilise data governance tools.
• Measure, monitor, and refine.

Data management software will also aid you in your creation of a governance plan, which leads us to our next point.

3. Invest In High Quality Data Management Software

Investing in high quality data management software is an essential part of effective data management.

Using a reliable solution can take your data management to the next level, increasing visibility, improving data security and supporting productivity and efficiency across your entire organisation.

This is supported by the fact that ‘data management software adoption is expected to increase by 94% over the next three years’.

If you’re looking for data management software, Configur’s enterprise data management software is a code-free solution that allows you to centralise, visualise, and optimise your data for actionable insights.

Moreover, our team of consultants are on hand to onboard and assist your organisation with everything from digital transformation guidance to ongoing project support.

Get in touch with a member of our team today at info@goconfigur.com.

4. Ensure Data Security & Privacy

Cyber threats are an ever-pressing problem for organisations all over the world, particularly as they’re becoming increasingly sophisticated with AI adoption.

Implementing robust security measures is crucial to protect your organisation from data breaches.

These measures might include implementing encryption, conducting regular security audits, as well as implementing access controls, helping to protect your organisation’s data from breaches and unauthorised access.

Additionally, prioritising employee training will play a fundamental role in helping to mitigate security risks caused by human error.

In turn, this can help to nurture and maintain the trust of customers and stakeholders.

5. Foster A Data-Driven Culture

Fostering a data-driven culture is a crucial best practice for data management.

Considering ‘Data-driven companies are 23 times more likely to top their competitors in customer acquisition, about 19 times more likely to stay profitable’ the benefits of becoming data-driven are evident.

A data-driven culture begins at the top, so managers must set expectations that decisions should be anchored in data.

This involves training all of your teams to use data in their daily decision-making, consider how data can inform their processes, and encourage them to share insights across departments on a regular basis.

Setting expectations at the top with senior leaders can cause substantial shifts in company-wide norms.

How Configur’s Data Management Software Can Help

Are you looking to take your data management to the next level? Look no further than
Configur.

Our code-free data management solution is easy for everyone to use, no matter their technical or data skill level.

Configur’s enterprise data management software can empower your teams to streamline processes and maximise productivity across your organisation.

‍Book a call with one of our experts today to find out more about how Configur can assist your company.