Month: September 2013

The concept of big data has been around for a number of years, and most organizations have learned how to leverage information into smart, profitable business decisions, but plenty of companies still struggle with the execution of information management strategies.

To maximize the impact of their information and to truly be successful as a business, organizations have to learn what roadblocks stand in the way between them and an effective big data strategy. An article in the online publication Health Data Management offers three possibilities: a failure to understand the right data management technologies, budgetary constraints and a lack of understanding of the breadth of big data possibilities.

While this article is focused on health care data, its principles can be applied in virtually every industry.

“Big data technologies offer a different model for managing, maintaining and mobilizing data,” the article says. “Implementing them provides an opportunity to look at the workload currently managed by those traditional – and possibly crumbling – environments in order to find ways to reach better outcomes more quickly and cost-effectively.”

So how do businesses clear these  hurdles? Finding the right technology is the most important component of a big data strategy, as it can help solve all three.

Consider FileMaker development. Using this platform to build data management tools can give you the functionality you need to properly monitor and process your seemingly endless volumes of information. A custom database software system is designed specifically for your operations, meaning it is the best solution for your needs.

FileMaker development can also help you get around budgetary concerns. While money is always a factor in any business decision, many FileMaker projects, particularly if you work with the right development firm, can be completed with less money and in a shorter amount of time than you might expect. FileMaker is a cost-effective platform designed to produce positive results and start delivering a return on investment right away.

Finally, the functionality of a FileMaker-based system will not only help you with your data management initiatives, it will allow you to do things with your information you may have never thought possible. A fully functional solution will let you collect, process and store information in a way that promotes efficiency and increases business productivity.

Databases and spreadsheets are used in companies all across the world. While each of these systems seems like a simple solution, there are a number of ways that individual businesses can implement them and find service providers to partner with. One of the top solutions is FileMaker.

A recent eHow article explained why a number of companies are turning toward FileMaker as their relational database engine software. It features an easy to use interface to retrieve, store and organize data without losing its capacity to handle large amounts of information. The usability is not determined by the user's level of computer literacy but with how easy it can be picked up and mastered.

"Small businesses and other groups, organizations and individuals also have uses and needs for databases," the article reads. "FileMaker Pro's user interface makes it so that these smaller users, with little to no financial resources, can start a database of their own without having to invest too much money or effort."

This means businesses do not need to outsource the construction of a database to an expensive third party but can instead create something more easily that is internal.

FileMaker also has a mobile application version known as FileMaker Go, which allows businesses to use the system and pair it with mobility, another major trend in the corporate landscape.

With the help of an IT consulting firm that specializes in FileMaker development, businesses of any size can implement the database solution and make sure the entire team is on the same page.

This blog has recently spent a considerable amount of time covering data governance, its relationship with big data and its impact on information quality. And while we are learning more about it all the time, we are still working to establish a true definition and the official role of those tasked with data governance. 

An article in the online publication Information Management attempts this by declaring data governance as the act of serving and protecting the organization. This makes sense to some extent. Data governance helps identify risk that can have severe consequences for the company and it also processes information in a way that best serves the business. For example, data governance can identify quality metrics to help with the sales and marketing teams.

This sounds simple, but as Michele Goetz, the article's author, points out, there's a bit more to it than that. For instance, one policy doesn't fit all when it comes to managing information. And, in many cases, data governance may only really mean to protect, because service is actually redundant.

Essentially, if there's a data governance plan in place that corrects mistakes and weeds out inappropriate information, there shouldn't be a need to spoon-feed certain individuals or departments with the information they need. Instead, a well orchestrated data governance plan will create an environment where users can extract information as needed. They will be trusted to use appropriate data because it is organized due to governance. 

"In the grand scheme of things for the enterprise, especially as a chief data officer, the responsibility is to executives," Goetz writes. "They need to trust the data. The controls and processes at an enterprise level are tailored to their needs and expectations of information. Yet, in the world of big data, empowerment of the business to outsource IT, the number of increasingly tech savvy business people, and the ability to serve creates a more faceted data strategy — in turn a multi-faceted need for data governance."

This actually puts a heavier burden of responsibility on data governance. Giving users the flexibility to extract information for individual needs can add new layers of operational efficiency, but any issues pertaining to poorly governed data could result in major consequences. Creating a custom database software system to manage information can help companies govern their data and improve the overall quality of decision making.

Data and risk management go hand-in-hand. The ability to process information and identify key components that could potentially lead to future problems for the organization is of the utmost importance.

There will always be an element of uncertainty in business decision making. This is typically related to company financials, but that’s not always the case. While it’s impossible to completely mitigate the risks associated with the unknown, companies can do themselves a big favor by collecting proper information and using it to identify whether it is a risk or not and handling it accordingly.

The question is, how do companies identify risks hidden within their information? There are a few schools of thought regarding this.

The online publication Waters Technology addresses two of them. One is data quality. Having the best, most up-to-date and accurate information will provide major assistance to an organization’s risk management efforts. This can become more challenging as information volumes rise, but having a higher quantity of data can actually give businesses more resources and a greater chance to identify and manage risk.

Data governance also plays a big role in risk management, even if two processes are independent of one another. The reason for this is that data governance impacts a number of departments within the organization and has far more uses than simply helping identify risk. Essentially, ensuring the accuracy of information will certainly help companies trying to identify risk, but it can provide a number of other advantages as well.

As this blog has discussed in the past, data governance and data quality are directly related. According to Fidelity ActionsXchange’s Deborah Culhane, who spoke with the news source, “data quality is being improved by more mature data governance processes.”

Ultimately, building a custom database software system will allow you to concentrate your efforts on data governance and improving quality, which will pay dividends in your risk management initiatives. FileMaker development can play a sizeable role by providing you with the resources you need to discover any potential risks. This system can scale and adjust to the volume of your information, which will allow you to maintain an effective risk management process, regardless of any changes that occur to your data.

The importance of proper data management is not exclusive to for-profit companies. In fact, non-profit organizations may have a greater need for data management, considering that many have a responsibility to provide assistance with social issues. Improper data management in the non-profit sector can have consequences that extend far beyond the organization.

However, many non-profits are struggling with handling their information. According to a study conducted by the Washington-based CPA and consulting firm Tate & Tryon, the main obstacle these organizations are facing is missing and inaccurate data. Perhaps most disconcerting is the fact that while the majority of organizations know what their problem is, they don't necessarily understand what's causing that problem. "Without understanding what is truly preventing your organization from fully leveraging your data, you may end up wasting time and money – such as buying new database software – fixing something that wasn't broken," the report says.

While that assertion makes sense in theory, companies shouldn't simply negate the importance of database software. The purpose of the statement is to implore users not to invest anything they don't need, but know that they will still need some way to monitor and track information. Buying a solution for the sake of having one might not be the answer, but if you are able to build a custom database software system that fits your information management needs, you can identify data issues and solve them without having to take any unnecessary action.

FileMaker development is an ideal solution because it allows you to create a system that fits specifically with your organization. You can maximize your data management efforts and alleviate any issues such as lost or inaccurate information.