By: Editorial Staff, Date: August 8th, 2022

Multiple waves of data with different formats are generated every second from various sources. Although it plays a significant role across business functions, the technologies it serves could be ineffective without high-quality data. And this has become the major concerns of most organizations today.

data management,webcast

What is Data Modernization

Digital transformation has long been playing a vital role recognized by IT decision-makers as the constant need to level up database infrastructure becomes more critical to thriving. And the best way to upgrade is through efficient data modernization strategy that ensures more secured and reliable data for performance optimization.

 

Common Data Management Challenges

  1. Processing Large Volume of Data 

An estimated 2.5 quintillion bytes of data are created every day. These data are generated by various enterprises that bring hurdles for IT teams to obtain, maintain, and generate value.

  1. Managing Data Storage

A large volume of data requires large or multiple storages. Most organizations may have repositories like CRM, ERP, and the like. However, each kind of data storage may have flaws or mismanagement risks to be evaluated and addressed.

  1. Ensuring Data Quality

High-quality and accurate data are critical for business functions. However, not all data is created equal. Maintaining quality is difficult as the data in your system could be outdated, incorrect, or malfunctioning.

  1. Having the Right Tools and Data Integration

Data integration combines data from different sources to provide users with insightful information. However, having the appropriate data management tools and systems is critical as inadequacy results in inaccurate data that may alter operational outcomes.

  1. Implementing Data Governance Plan

Data governance establishes rules and policies to comply with industry-specific or federal norms and regulations. Staying updated is critical to implementing a good plan.

  1. Lack of Skilled Resources

Experienced data management specialists are hard to find nowadays, and often require larger pay packages. Training entry-level could be costly, particularly for organizations that work with new technologies. Moreover, retaining these people after mastering the skills would also need much effort.

With the increasing reliance on data to operate a business and make educated decisions, data now serves as the new fuel for every organization to function. Unlocking the value of data could open the door to tremendous opportunities. Thus, it is crucial to have a data management plan in place to handle even the most difficult challenges that will come along the way.

Data Modernization Benefits and Advantages

  • Data modernization provides a more efficient data processing as it reduces the time it takes for users to analyze high-value data.
  • Data modernization provides real-time accessibility by improving visibility into sensitive data to control access.
  • Data modernization improves decision-making by granting access appropriately for data democratization where the teams can collaborate, innovate and share knowledge in a self-service analytics environment.
  • Data modernization provides a more reliable database by consolidating all data across the organization, thus building trust.
  • Data modernization allows continuous business growth by creating a standardized process across shared data, technologies, and other applications.

Data is, indeed, the lifeblood of modern businesses, and for it to become valuable and transformative, it requires an updated functioning system that lies in data architecture and governance. Organizations must have flexible and scalable modern data approaches and strategies to keep pace with technological development. OneNeck IT Solutions data modernization services can help you start this journey and overcome unique challenges ahead. The potential for increased revenue is surely worth the trip!

Upcoming Webcasts

2022-08-12T01:30:44-04:00

Accounts Payable Automation: A Comprehensive Guide to Reaching Your AP Automation Goals

With the increasing number of business transactions, the complexity and resource requirements for accounts payable (AP) processes continue to grow. Most companies integrate automation technology into their system to improve efficiency and accuracy and accelerate their financial operations. The adoption of AP automation technology claims to reduce cycle times while giving employees more time to accomplish more challenging tasks, thus reducing human errors and increasing employee satisfaction.

Upcoming Webcasts

back