The current business scenario is data-driven. Data is the essence of every business empire; every idea that is blooming into a viable and profitable business. Data differ from person to person. For some, data is scientific; for some data is newsworthy. But data is all about imparting information. This information is what many top business empires and small enterprises rely on. Since an organization is dependent on consumers’ data to run their business, it is important to have various measures in place.
Data is managed and used in different ways. Through data management, data governance, and data integration, a business needs to look after the data they disseminate and receive. While they’re all interconnected, they are still distinct. To understand the role of data as part of the business, one needs to be able to differentiate between data management and data integration.
What is data management?
Since business is extremely data-dependent, it is important to keep it collected, organized, and simple to optimize work. This is what data management is all about. Different types of data play an important role in the performance of a business. Data management is all about organizing and securely maintaining relevant data. It has to be secure in a cost-effective manner. When it comes to information, an organization has its policies and regulations on how it should be maintained.
Data management takes this into account as well. It is all about managing data within the bounds of the organization’s rules and regulations. Since it is a vital function for any organization, there is a need to draft a data management strategy.
Through this, a business can maintain analytical information that will help in the optimization. For data management to take place, certain procedures, policies, and regulations are established. This further explained by a data management strategy. To have the best dish at the restaurant, the chef needs to experiment with a combination of different ingredients. The same applies to a data management strategy. One needs to use a combination of different resources and activities for a successful strategy.
What is data integration?
Have you ever consolidated facts and figures from different sources and presented on one platform? This is a simple way of understanding the meaning of data integration. To put it in business terms, it is the compilation of data from different sources.
Data integration is a very important practice in the process of decision. Data is first integrated from different sources and then stored securely on the company’s server.
Data is first procured in a raw form. It is surrounded by clutter and other unnecessary information. It needs to be polished, refined, and then integrated with other relevant data. This data can then be ultimately used for decision making, strategy development, and other operative purposes. For successful data integration, a bit of technical knowledge is required.
Since the data procured can be used for analytical purposes, employees often use it for the day to day activities of the firm. This also calls for a security system that warrants the right personnel to have access to the right type of information. If data is integrated in the right manner, then it is cost-effective and timesaving for the company.
Difference between Data Integration vs. Data Management?
It’s always difficult to keep up with technological jargon. But once understood, it is hard to get them mixed up. While data management and data integration sound similar, they are as different as night and day. Inaccurate and incomplete data will hamper the decision-making ability and strategies of any company.
This is where data integration plays a pivotal role. Data integration organizes the data in a consolidated manner, in one place, making it easy to view and analyze. Data management, on the other hand, focuses on how well that data is handled. How well it is organized. While data integration is the consolidation process, data management takes a broader perspective of looking after how the data is refined, how it is kept and shared.
On the other hand, data security is also an important part as cybercrime is getting worse, and small companies do not have the proper environment to protect it. One of the ideal solutions is an SSL certificate. One must install on the website to secure data with an encrypted form.
When it comes to data integration and data management, they are interrelated. Once data is integrated, it needs to be effectively managed for efficient usage. Data is the lifeblood for every business; hence it needs to be handled with care. It can also morph the future of the organization as the data is the building block to all strategic decisions.