I’m trying to study for my Software Development course and I need some help to understand this question.
We all know “data’ is in high demand and is a heart of every modern business. But every digital transformation has a data strategy to manage. Digital transformation is extremely about reevaluating how a business utilizes tech to improve performance. It influences all aspects of a business and expects departments to team up on how they can drive change — by including innovation, yet by wrapping business forms around that innovation and building a hierarchical culture to grasp it.
There are 4 basic steps of data management that can help in digital transformation:
Start Digital Transformation Efforts with Data; Aim to deepen customer relationships; transform the work transformation for staff; keep data security top of mind.
In the same way, there’s a desire for advertisers to utilize data analytics to catch leads, tweak their campaigns and at last develop the main concerns of the organizations they represent. To state that enormous data analytics is a distinct advantage for advertisers would be a huge modest representation of the truth. Beneath we’ve illustrated five unmistakable up-sides of data analytics, alongside the tools and genuine instances of how advertisers can utilize analytics for their potential benefit in the present data-driven universe of promoting.
Better-Analytics = Better Design; Perfectly timed content; Boosting sales; Conversion Optimization; Promoting Personalization
A way to deal with Document and Records Management depends on the possibility that data changes an incentive through an association. The lifecycle of data is changed through five stages; Create/Modify, Replication/Migration, Backup/Restore, Archive/Recall and Removal. Associations gain the advantages of this data lifecycle management approach by getting to the most incentive from data, at the lowest total of possession, at each point in its lifecycle.
Data management and records management arrangements permit associations to oversee, store and secure reports inside the workplace. Everything from emails to designing drawings to invoices, to government application structures and cabinet notes – represent a significant, however regularly covered up, chance to reduce expenses, improve dynamic, and shield your business from incidental data loss.
When a company or business is going digital then a lot of things can be changed. In that process data plays an important role. Data helps businesses in making decisions, forming better marketing campaigns, improve the supply chain, reduce the operational cost, all this will be done to increase the revenue and profit. Most importantly data helps in serving the customer in a better way.
But with data its all about management. Data management helps in maintaining the old company data along with the new company data which is getting generated every day. Once we have good access of data then to make something out of it is very important. For example if you have a data of kind of people enter into “Best Buy” store and know what they have enquired about then through data management, we will get to know their preferences and will tap those customers by providing them those specific products. Customer data quality is one of the major player in companies digital marketing campaign. The better equipped the company is in terms of data, better it is to take the business digital. Staff will also get an opportunity to get trained on that as it is not only about machine. At the same time it is important to keep the data secured as it can be corrupted, stolen, held hostage mismanaging its security.
Big data analytics helps in having the necessary and related information at right time which drives the smart decision making and data driven planning which can change the dynamics of the business. Organisation use all kind of data whether structured or unstructured to integrate the external data with internal data and can build the analytical model to improve the current situation. These kind of models provide actionable insights which ultimately helps in increasing the revenue. Integration of big data with the existing system will give a complete view and transformation can become smooth. Companies can use big data to improve the performance. Again big data helps in predicting the needs of the customers which helps to get ready for their demand and increases the customer satisfaction. Polls, surveys and any social media campaign can help to knowing the customer need which might help in generating new revenue stream altogether.
Record management, data analytics and data management works in tandem. Record management helps in making reference to the past data and based on that big data analytics can be done and ultimately helps in serving the customer in a better way. It also helps in finding any part of business process which is less efficient comparatively. Ultimately assists in business process improvement.
Sivaraman, Nandakumar “Why big data should be part of your digital transformation journey”, April 26th, 2018
Rouse, Margaret “What is data management and why is it important”, Oct, 2019