The increased pressure to implement enterprise data management is not the result of a fad or herd mentality. There are real operational needs driving this movement. Chief among these is the urgent demand to make data accessible and useful. Businesses need to be able to put their data to work fueling decisions, empowering efficiencies, and shaping company direction. That means data must be standardized, converted to useful forms, and stored where it is secure but still accessible to users.
If you are lucky, your company was able to get a jump on its data management, implementing proactive measures over the last few years to handle the swelling data tide. Unfortunately many enterprises weren’t quite so vigilant and now find themselves scrambling to get a handle on their data, which is growing and changing by the day.
The Many Sides of Enterprise Data
According to IDC, businesses are managing a volume of data that is growing at an average of 40% a year. Not only are companies handling more data, but the types of data are expanding as well. Data streams contain everything from inventory figures and financial information to videos, images, and other unstructured data coming in from social media, mobile, and the Internet of Things (IoT). All of these varied data types need to be centralized, organized, and made accessible and useable to the business. That is the true mission of enterprise data management.