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Are You Giving Your Data the Attention it Deserves?

Data Strategy is an Executive ResponsibilityIncreasingly, companies are seeing a need for executive-level attention paid to their data and the valuable wisdom it contains. But some struggle with understanding who’s “in charge” of data management, and just how important a role data manager should be within the organization.

Smart Data Collective recently tackled these concepts in a piece entitled “Who’s in Charge of Your Data?”. The Smart Data Collective piece cites 8 key needs that all organizations have when it comes to their data:

  • Data governance policy and procedures
  • Determination of data needs
  • Data collection
  • Data management
  • Data security
  • Data flow
  • Analysis of data and modeling
  • Data reporting

And, according to Smart Data Collective, as companies delve into these needs they find that data doesn’t really fit nicely into the realm of IT. Instead, companies looking to make the most of their data may find their best bet is to elevate data management to the executive level where it can impact multiple branches of business operation. The article quotes Thomas C. Redman from the Harvard Business Review, “Different kinds of assets, people, capital, technology, and data demand different kinds of management. You don’t manage people assets the same way you manage capital assets. Nor should you manage data assets in the same way you manage technology assets.”

It also quotes Data Blueprint’s Data Management and Data Administration academic paper, “Management should recognize the DM is continuing to move towards a model in which it is moving away from the inclusion of low-level operations and towards more managerial functions.”

All this is to say that if your aren’t giving your company’s data an important role in your business strategy with executive-level attention, you should be!

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