Digitalization has allowed great business advances but has meant new management points that affect business processes. Big Data has confronted us with a new technological scenario in which the profitability of a company goes through increasingly accurate analysis and data governance such as immediate access to information for strategic decision making.
Every business manager knows the importance of precise information and its immediate availability. The problem is that there is not always a correct mechanism for the collection, identification and, in short, agile data management.
Globalization and digitalization offer numerous business opportunities that constitute a great macrodata challenge that must not only be governed by quality, trust and organization parameters, but must also be easily accessible and delivered quickly.
For a correct determination and categorization of the different types of data, it is vital to accurately define data life cycle Its use implies the relevant and outstanding optimization of all the requirements and business needs.
What is the DLC?
The data life cycle is the planning necessary for the application of methodologies and protocols to collect, analyze and share the necessary business information accurately and with all guarantees within a company.
By managing the data life cycle it is possible to guarantee the reliability and accuracy of the stored information parameters and its exclusive use by authorized personnel for handling and processing.
A common denominator in many companies is their high level of problems regarding the quality of their data, with defects due to storage and management errors that cause serious damage in the daily management of their products or services because these parameters do not meet the necessary reliability and quality.
During the daily corporate procedures, not enough attention is paid to data management and this causes deficiencies in the integration of information due to insufficient, erroneous and even duplicated data.
The implementation of efficient data management involves organizing data for all areas involved using guidelines with identical objectives.
The importance of good management
Putting this planning into practice provides a better use of business opportunities, since this permits the agility and precision needed for a data management framework based on an integrated vision that fits the necessary requirements at the corporate level.
The growth of information, its heterogeneity and the multiplicity of actions needed within the company generates multiple data silos that fragment the information in an inoperative way.
This is why data management involves the search for technological solutions that embrace data and system diversification in a best practice.
Advantages of DLC
Its main virtue is the fast and precise access to all information of all the areas of the company. This facilitates the process of strategic decision making and gives results of greater efficiency when assuring the veracity of the most important data. It also increases the transparency of the information when making it accessible to the authorized personnel of the diverse corporate sectors of the firm.
The implementation of this type of software specifically designed for the management of information in a truthful and specific way increases the speed of comparison and verification of information facilitating its access, management and assessment.
