A Sea Of Change
Data Management Practices Need an Overhaul
Compelling Mandates Changes in “standard business practices” are forcing companies to dramatically change the way they manage data. Moving from traditional evolutionary data management approach to a practices is a must for competitive parity.
Data is a corporate asset Historically, corporate data has been a record of corporate transactions, with few companies using their data as more than a collection of disjointed records. Systems from across the business rarely integrated or shared
information. Today, companies make use of this data to make accurate predictions regarding customer behavior using new
technologies for data mining.
The advent of comprehensive applications, such as CRM (Customer Resource Management) and others have radically changed our value and treatment of data. When combined with our dependence on the internet and email, our dependency on data exceeds its value as historical record.
Data is more than a collection of records; it is arguably a company’s most critical asset. Intellectual property is contained within the data store. Customer negotiations are understood through the data store. Without their electronic data, most businesses would cease quickly.
There’s gold in that old archive Corporate data has long been managed and stored according to its age and access frequency. Solutions to store data have supported the migration of data from more costly high performance data storage technologies to less costly technologies based largely on the age of data. In the past this seemed practical given that once data reached a certain age it was called for at steadily and predictably decreasing frequencies.
With data mining technologies accessing data from across a company’s enterprise, it is quite possible that older archived data still has significant value to the company. Basing retention of data solely on its age is no longer practical nor is it considered a best practice.
In today’s global economy, the sun never sets.
In today’s highly competitive and litigious environment age has little to do with the value and importance of the data. Yet many
companies still use data’s age as the only measurement for triggering migration of data to archival systems.
While IT has historically owned the operating environment, the data itself was largely “owned” by the business units that generatedbit. While these units continue to have a vested interest and a reliance on the data they generate, there are now several “owners” who also consider the data to be within their sphereof control. Among others these include:
• Finance, as the implication of laws such as Sarbanes–Oxley get translated into regulations, audits and reviews.
• Human Resources, as regulations such as OSHA and Income Retirement Security Act, take on ever-larger roles, and require rapid and accurate reporting.