It is vital for data flow within an organization to undergo end-to-end management, from entry and storage to modification, analytics, and reporting.
To address this data inaccuracy, a robust EDM strategy is necessary. Sub-optimal data quality pulls down everything that it touches, from productivity levels being affected to analytics and business intelligence, throwing up wrong conclusions.Īlso Read: What Is a Data Catalog? Definition, Examples, and Best Practices Need for robust EDM strategy believe up to one-third of their customer and prospect data suffers from some form of inaccuracy. Experian’s Global Data Benchmark Report 2018 suggests that organizations in the U.S. Many organizations are having trouble in adopting, integrating, and managing the business data moving through their systems. This is why corporations require a comprehensive enterprise data management strategy to harness the complete value of their information. In 2021, where physical interaction between people is at an all-time low globally, data is the lifeblood that drives the whole world. EDM can create catalogs for internal as well as external assets. Under EDM, a wide variety of organizational assets are managed, including financial data, inventory, mobile data, social media, IoT, photos, videos, and other graphics. EDM solutions ensure accurate and timely access to information and enable the standardized, safe, and controlled storage of the said information. Today, many leading organizations rely on EDM for inventory and governing business data as well as the people who manage this data. With EDM, companies can engage in informed decision-making and analytical planning through useful, accurate data.
EDM exists to ensure the credibility of all the data assets of the organization. What Is Enterprise Data Management (EDM)?Įnterprise data management (EDM) is an enterprise’s ability to identify, integrate, restore, and stockpile data for internal applications and external communications. What Is Enterprise Data Management (EDM)?.This article discusses the key elements and importance of EDM and shares some best practices for 2021. Enterprise data management (EDM) is defined as an enterprise’s ability to identify, integrate, restore, and stockpile data for internal applications and external communications.