Data management and Business Intelligence

Abstract

The following research paper will throw light on the influence of business intelligence and data management on gaining a competitive edge in business. The research is based on the study of researches that have been conducted already in the same field. The areas of data management, business intelligence and knowledge management will be covered in the research paper. Example of IBM is included in the research paper to make the idea of business intelligence and data management more clear.

Data management and Business Intelligence

Problem Statement

Data management strategy in organizations and the Business Intelligence Tools are used to gain competitive advantage.

Introduction

As a result of the advances that currently exist in the data storage and information, companies face an exponential growth in terms of data amount and managing its diversity. This means not only data volumes increase but also the elements of which are associated data and information. For this reason, poor data quality is a factor that increasingly affects employee performance, and that of the company, this is because of the fact that it somehow deteriorates relations that are associated to the data (vendors, internal and external customers, employees).

Data is "a general term to denote any or all of the facts, letters, symbols and numbers refer to or describe an object, idea, situation, condition or other factor " and are a key element for making objective decisions at all levels of an organization. Moreover, for a modern organization, data is one of its strategic resources. The use of data as a basis for decision making has been a practice widely recommended as opposed to the fact develops decision based on intuition. In fact, one of the principles of quality management is the approach that fact-based decision-making, which suggests that effective decisions based on the analysis of data and information

However, not enough data exists or the will of basing decisions taken, in them requires that they have adequate quality. That is, when based on the data favor a decision on another, it is certain that the data are free of errors and that also possess relevant attributes. Data management is the set of methodological, conceptual, organizational and technical measures and procedures for the treatment of the resource data with the aim of the data at their maximum potential use in the business processes and ensure the optimal use of the data.

In addition, a professional data management aspects of the data / information quality and data protection into account. Throughout the entire process chain of time for data consistency should be ensured. Starting with the business acquisition, the inventory systems, the risk control, through to balance a complex process chain must be considered, which affects many areas of a company. Data quality in each individual process step is crucial. The policy specifically provides that personal data against abuse are protected and may be used only for the purpose for which they were collected.

Literature Review

Nory E. Jones and Richard T. Herschel conducted a research on the difference between knowledge management and business ...