Data is an asset!

Article: http://findarticles.com/p/articles/mi_qa3937/is_200709/ai_n21100516

As Ms. Copeland has said, "databases are everywhere." I never stopped to think about if before, but now I realize how true this is. You can't use the internet without interacting with a database. All that information has to be stored somehow. I have been working at Best Buy since July, and we use a company intranet for everything...to clock in/out, to check our daily task list, to view direct deposit electronic paystubs, to view benefit information, to send emails within the company, etc. We also use it to manage customer information, such as issuing and managing rainchecks. We even use electronic pinpads so that signatures are stored digitally. The point is, the company heavily relies on data stored within the system; we hardly ever use paper, and when we do it's usually being used to print data that's already stored in the system. This is the case with many companies nowadays. But despite the importance and omnipresence of data management, this article brings to light the reality that many companies are not managing their data effectively.

A study mentioned in the article revealed that less than 10% of the companies they studied used documented processes to manage data. And "according to the 2006 InformationWeek article, the amount of data created and maintained by organizations doubles every 12 to 18 months" (Swartz, Nikki). If organizations want to keep up, they need to learn to better manage their data.

I think a big problem is that people do not understand the importance of properly storing data. Many see it as just another bureaucratic task that does not play a huge role in the big picture.

On the contrary, data has many uses in an organization; its use for streamlining processes is one. For example, what if Amazon.com required you to input all of your contact and shipping information everytime you placed an order? This would get very annoying for the customer. Luckily, Amazon.com lets you make an account that stores all your information in their database so that you don't need to reenter it everytime you want to order something. Data is also very useful for helping a company adapt to its customers' needs, which is essential to stay afloat in the business world. If an internet retailer keeps records of the products its customers buy, this serves as an invaluable tool for determining what kinds of products the company should focus on to bring in more revenue.

If every employee was effectively trained in data management in order to fully understand its importance, they would very likely manage data much more efficiently.