As any reader of this blog will know, data management is essential to reaping data’s total rewards and obtaining—and maintaining—a competitive advantage. But, as a recent CIO article underscores, while many facets of data management are well understood, there remain a few challenges companies have yet to navigate successfully.
Following are just a few of these “dark secrets” of data management:
Users’ Suspicion Surrounding Data Practices
As the general public has become more aware of the extent to which companies are capturing data about them, people have grown increasingly suspicious of organizations’ data practices. This is an issue with both customers and internal end users alike. These concerns fuel greater regulation and often leave companies struggling to prove their data practices are above board. What’s more, it’s not uncommon for some people to deliberately impede data collection with fake values or wrong answers—creating more work for data teams as they seek to separate these inputs from legitimate data.
Data Storage and Cleansing Costs
As the CIO piece puts it, it’s not a stretch to estimate that 90 percent of a data scientist’s job is collecting data, putting it in a consistent form, and addressing the numerous holes and mistakes. This cleansing process can quickly drive up costs and drain resources. From a storage perspective, IoT devices and connected technologies are uploading more data than ever before. In addition, compliance officers and regulators expect to keep this and other enterprise data stored indefinitely in case of future audits. As such, the price for storing this ever-expanding bundle continues to increase.
Managing Unstructured Information
While the IoT produces new data sources, many companies still store legacy unstructured information that is extremely difficult to analyze. Consider text notes taken by various contact center employees with different writing styles and abilities, for example. Each individual likely had a different idea about what was most pertinent to write about and how much or how little to document. In theory, an AI engine could search through these notes to obtain insights that would improve the company’s customer service approach—and perhaps even the services it offers. In reality, however, the unstructured nature of this information makes it difficult to yield any tangible returns.
Head to CIO for more on the above and other data management challenges plaguing enterprises today.