Enterprise Data Management: Importance and use of data and information

Enterprise Data Management

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During the digitization process, to achieve ambitious goals, such as the implementation of artificial intelligence, it is necessary to have a solid database available. But why are these data so important and how can they be found?

A data can occur in different formats: it can be a number, a letter or an entire text or it can be an image, or a sound which is an elementary description, often codified, of information, an entity or a phenomenon. We can therefore deduce that data is the raw material of information, they are representations of events before they have been processed, and these are often encoded, or contained in some type of support. To give value to these data, however, it is necessary to interpret them and put them in relation to a context. From this interpretation, information is born, that is, a set of data processed and understandable to man.

Having understood what is meant by data and information, it is now easy to understand their importance in the company. In fact, examples of corporate data can be the number of employees, the return on an investment made (ROI, return on investment) or simply the date of the last update of its management software. These data, however, are not very interesting if taken individually, as they do not give useful information to the manager, instead they must be placed in relation to a context that expresses information, an event or an opinion. According to the data management company in India, only after having made use of series of calculations and having processed all the data is possible to draw conclusions and understand why a situation presents itself in a certain way.

You can extract important information

Very important information can be drawn from the data regarding the business trend. You can view the performance of the machines available, the trend of profits in a certain period of time, or the risks and opportunities of a possible investment in relation to the available resources can be assessed. The data, therefore, are the basis of every decision, be it operational or strategic. In addition, once a large amount of them have been collected, they allow the manager to carry out various types of analyzes, for example on the movements of his warehouse, or on the trend of financial flows and payments, or even predict any changes in your market or external environment.

It will help in any way

Whatever use you make of it, however, it is important to understand how and where they can be stored so that they can manage them in the best way. We can, first of all, divide them into two main categories based on their nature: structured data and unstructured data. Then there is a third category, namely that of semi-structured data, which have characteristics common to both categories.

Structured Data

Structured data are those characterized by a very precise scheme, organized in rigid tables within a database default. Thanks to the process of digitizing businesses, obtaining structured data has become much simpler and more immediate. In this regard, there are software that can catalog huge amounts of data automatically and with a minimum amount of resources. In the marketing function of analytics companies in India, for example, through the acquisition of information from the company website about consumer preferences, marketing managers are able to have immediate access to all external data already structured on the basis of previously defined characteristics.