Enterprise-Wide Data Management

In today’s digital world, many organisations continue to generate vast amounts of data on daily basis and upon these data, decisions are made to improve business processes, operational efficiencies as well as improve revenue.
Large organizations have complex data ecosystems that requires a structured model to manage their data assets effectively to ensure good data quality, security and its availability for prompt decision-making for the business.
This development has driven new demand that requires different ways to manage such volumes of data. Attempts in governing data failed before as they were driven by IT and affected by rigid processes and fragmented activities carried out on system-by-system basis (Majid Al Ruth). There is a growing understanding and awareness by organizations of their data as an asset and therefore should be managed (Khatri & Brown, 2010).
Organizations that make decisions based on bad data lose money on a regular basis (Fred Friedman, analyst at Gartner Inc. Stanford Connecticut). Poor data management causes global businesses more than $1.4 billion per year in billing, accounting, and inventory (survey of 599 organizations by Price Waterhouse Coopers, NY).