In marketing, sales, IT or another job, you need to have access clean, reliable data for your decisions. This is where effective data management comes into play -which is why it’s among the top tech trends to be watching in the year 2018.

Data management involves all disciplines involved in treating your data as a valuable asset and guaranteeing its accuracy, reliability and accessibility. That includes everything from data architecture, to deploying analytics and data systems to managing the storage lifecycle of your company’s data.

A solid data management strategy encompasses six core, or primary characteristics:

Accuracy: the data must reflect actual, live objects and events, and be verifiable using trusted sources.

Completeness — The data must include all values that are mandatory, such as sending an email to a customer using only their last names.

Consistency – the data should be consistent across all sets of data and stay that way when it is updated or changed.

Accessibility — the information should be accessible to those who need it, without compromising compliance requirements.

A data management plan will only be effective if it is supported by all departments and business areas. This is crucial since faulty data could result in a negative impact on your company. IBM estimated that inefficient data handling costs the U.S. economy $3.1 trillion each year in lost productivity, as well as the costs associated with maintaining data.

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