When it comes to running a company, it’d be fair to say that half-researched or mishandled information can not only be useless but counterproductive for your growth.
In the modern workplace, being able to juggle huge quantities of data and swiftly adapt your company’s policy according to rapidly-unfolding developments on the market can mean the difference between scoring record sales and going bust!
Now, whether you’re running a fast-paced online accounting company or a sleepy ostrich farm somewhere in the outback, ensuring that you’re dealing with correct information regarding your accounting, workload and pretty much everything else represents the single most important perk of a successful business.
Since data equals control, there’s been a push on the market recently toward a more wholesome, better-optimized approach to gathering and organizing data.
To put this lofty idea into practice, a new breed of software tools has been developed and the results they’ve set out to accomplish with their work could be summed up in the phrase- Enterprise Data Quality!
So, providing quality data for enterprises- simple enough, really.
In this article, we’ll describe this newly-emerging concept and see how it does its magic!
What is Enterprise Data?
To put it simply, enterprise data quality refers to the practice of organizing and maintaining all of the data relevant to your business undertaking so as to make it accurate, consistent and up-to-date.
This is achieved by specialized software tools that allow you to gather information and then classify the individual pieces of it so that they can be easily accessible by the members of the work organization and readily used whenever necessary.
The goal is to bring all the ‘stray’ bits and pieces of data together, optimize them and put them neatly into their specific ‘folders’.
If this is done properly, it can save the company a lot of time and increase the productivity thanks to the reliability of the information you’re working with!
So, How Does This Software Do Its Magic?
In order to bring enterprise data quality to life, the aforementioned tools go to work on several different data-optimizing ‘fronts’. Here they are:
- Data Validation – The format of the data and some of its other parameters are standardized by the software for easier reference later on. Therefore, every new entry goes through the process of validation upon being entered into the system.
- Data Profiling – The software actively seeks to scour through the existing data and find any inconsistencies that go against the norm. When the target is ‘locked’, the program goes to work to make any necessary adjustments so that it becomes standardized!
- Elimination of Duplicates – One of the most annoying parts of gathering and assorting data is having to plow through duplicate entries. Thanks to different marks and formats, one and the same document may look like something else and create some proper confusion down the road! The Enterprise Data Quality roots out all duplicate documents and thus creates a precise and finite amount of data that is ready for further use whenever necessary.
- Updating – Other than standardizing the format and filing everything in neat digital bundles, Enterprise Data Quality also makes sure that all the accounted data gets updated with fresh information and ‘amendments’ as soon as they become available!
All things considered, as the digital premises keep getting more and more cluttered with all kinds of documents and data, it’s important for a business to be able to manage it all without getting stuck at every step. Enterprise Data Quality proposes a thorough combing of mountains of your data, a solid classification process and then some regular update mechanics to keep everything up-and-running! What’s not to love?