A certified data management professional and chief executing officer at Berkeley Data Strategists! Adetokunbo Ajibola, has stressed the need to harness data for innovations and enhance productivity in so many areas of human endeavor.
Ajibola, who spoke at a seminar, highlighted the challenges and opportunities presented by data in the 21st Century.
He said in the digital age, data has become the lifeblood of organisations, fuelling innovation, driving decision-making and providing insights into customer behaviour and market trends.
According to him, due to the proliferation of data sources, formats and technologies, organisations often find themselves tangled in a complex web of data, struggling to extract value and maintain control.
Navigating this maze of data, often referred to as the “cobwebs” of enterprise data management, he stressed, requires a strategic approach and a comprehensive understanding of the challenges and opportunities presented by the digital landscape.
“One of the key challenges in enterprise data management is the sheer volume and complexity of data generated by modern organizations. Data is no longer confined to structured databases but is now generated from a multitude of sources, including social media, mobile devices, sensors, and IoT devices. This disparate data landscape presents challenges in terms of data integration, quality assurance, and governance,” he said.
Stressing that effective data governance is essential for organisations to maintain control over their data assets and ensure compliance with regulatory requirements, he added that navigating the regulatory landscape can be daunting, with numerous regulations governing data privacy, security, and confidentiality.
“Organisations must establish robust data governance frameworks to define policies, procedures, and controls for data management, ensuring that data is handled responsibly and ethically.
“Ensuring the quality and consistency of data is another critical aspect of enterprise data management. Poor data quality can lead to inaccurate insights, flawed decision-making, and reputational damage. Master Data Management (MDM) plays a crucial role in addressing this challenge by establishing a single, authoritative source of truth for key data entities such as customers, products, and suppliers. By implementing MDM solutions, organizations can improve data quality, enhance decision-making, and drive operational efficiency,” he added.
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