Transforming the Numbers With Data Management
Increasingly complicated data sets, like the influx of production data for oil and gas, can require more robust data management strategies than we’re accustomed to. Excel or other small ad-hoc databases just aren’t up to the job of complex data warehousing. In addition, these more primitive solutions don’t provide the visibility or dashboards that are required by most decision makers.
So while the reasons for implementing data management solutions are clear, making the business case and getting the job done isn’t so easy.
As SearchDataManagement highlights in a white paper about how master data management requires true business sense, “This is not an IT refresh like updating phones with Windows 8 — to go at it like an IT initiative is the kiss of death…this is a business initiative aligned with the strategic direction of the company.”
Selling Stakeholders on Data Management
As I’ve highlighted in a previous post, establishing an understanding of your problem, and then developing a solution that matches the scale of that problem is very important.
In addition, many champions of data management will find that they must be good marketers of the solution. As SearchDataManagement highlights, the best recipe for success is, “ignoring the technical aspects of the situation, focusing on the bottom line, and explaining the consequences of inaction.”
Drilling Down Into the Business Problem
SearchDataManagement’s article goes on to highlight a few useful questions that every business should consider as they evaluate data management tools.
- Why do we need this tool?
It’s tempting to go with a solution that feels comfortable, but you run the risk of choosing a solution that doesn’t fit the actual need at all. Check out this blog post on problem solving for software here.
- How is it going to benefit the company?
Starting out with an idea of what success looks like for your data management project will make your efforts more focused. Read this blog post on user stories for more on establishing benefits for your company.
- What is the payback?
Think broadly about payback. Hours saved or the ability to make better decisions due to dashboards all tie into the payback, and have a direct financial tie-in to your company’s bottom line. See this post on the power of business intelligence here.
- How long will it take to realize value?
From the start, your team should have realistic expectations for your data management project and the timeline to success. For more on what data management success should look like, read this case study.
- What happens if we fail to act?
Good data management practices can represent a true competitive differentiator. When your competitors have intelligence you don’t, you’re only falling behind. Read this blog for more on why the investment in data management is worth it.