Study: Most organizations lack proper data management systems

Posted by Justin Hesser on August 5, 2013

There are many factors that go into determining the quality of an organization's information. In addition to following best practices in regards to acquiring data, systems must be designed properly so that users have easier access to it, thus enhancing their ability to report on it and make smart business decisions.

However, many companies have failed in this area, according to a new report titled "Global Risk Management Survey, Eighth Edition: Setting a Higher Bar." The study was conducted by Deloitte and found that only 25 percent of companies feel they have either extremely or very effective solutions in place to process information.

This is an alarming number in industries such as finance, where the ability to manage risk is crucial. Failure to properly assess data and determine any risks can lead to serious problems, as this was one factor that ultimately led to the financial crisis of 2008. To properly report data and make smart business decisions, information must be processed in a system that can give companies the best view of their information.

FileMaker development is an ideal solution in this case because it can give companies the ability build flexible and scalable solutions to manage their data. As volumes of information continue to grow, it's important to have a system in place that can grow as well. This will give organizations a custom database software solution that they can use to improve the manner in which they collect, process, report on and store valuable information. This will go a long way toward helping identify key risks and managing them appropriately.