Data management

What you should know, potential risks, and how to get actionable insight

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Every day we deal with millions of pieces of information, whether we come across these on our computer, mobile phone, or another device. In this context, the Romanian company EXE Software has analyzed the risks that deserve any organization’s attention but also how to streamline data management, so that you gain a competitive advantage over your rivals in the industry.

Taking into consideration that nowadays most business decisions are made based on historical information and forecasting and rarely on personal intuition, EXE Software has identified some obstacles that should be considered in order to best manage data.

Inefficient analysis systems: In many cases, the tools used to analyze information are slow, delivering insights too late and reports that are not flexible, making them difficult to interpret. Most of the time, companies use their IT resources in order to process data, build reports, and make predictions, but these requests are not often given enough priority.

Systems that are not integrated: Sometimes, companies use many systems for data collection and storage which are not always integrated. This results in contradictory information since each tool uses its own resources, management conventions and naming.

Inadequate information: Data quality is often unsatisfactory, and this is due to poorly performing collection tools and lack of integration between them. This means decision-makers struggle with analysis and predictions since their data is not correct or complete.

Lack of structure: There are certain pieces of information that cannot be classified using conventional or predefined patterns. These include text documents, images, emails, and information gathered through IoT. So, even if these may consist of valuable insights, they are challenging to analyze using conventional means.

All things considered, the evolution of technology in terms of analysis tools makes it possible for more and more companies to manage their data efficiently, develop complex analysis, and visualize reports in easily and comprehensively. With the appropriate solution in place, you can take great advantage of huge amounts of data and thus invest company resources more profitably.