How to Use Enterprise Information Management to Increase Data Utility

 
 
By Jake Freivald  |  Posted 2010-03-12 Email Print this article Print
 
 
 
 
 
 
 

Enterprise information management can help you gain a competitive advantage by helping you to find new marketing opportunities within your customer database, monitor trends in workplace productivity, ensure accurate data on financial reports, and even prevent money loss via fraud and suspicious transactions. Here, Knowledge Center contributor Jake Freivald explains the most important points to consider when implementing an enterprise information management system.

"Water, water, everywhere...Nor any drop to drink." So said Coleridge's ancient mariner about dying of thirst on a languishing ship, surrounded by the salt sea. I feel that way sometimes about data. In lean economic times, we want to capitalize on every resource we can find but the data that surrounds us seems unusable. It's been estimated that 80 percent of vital business information resides in unmanaged repositories, making effective utilization nearly impossible.

Before I get e-mail messages from grammar wonks-always a danger when I start with a poetry reference-I say "utilize" instead of "use" deliberately. Before the data can be used, we have to bring it from its unusable state to a usable state. Just as we must desalinate seawater in order to drink it, we must increase data's utility before we consume it. Let's look at three tasks you can do to improve the utility of your data, as well as the three types of related projects that can help you in lean economic times.

Task No. 1: Clean the data

As with water, cleanliness improves things everywhere you use data. If you want to increase revenue by maximizing campaign effectiveness, you may want to segment your data better-but target selection can be tough when you have titles such as "Chief info officer" or "Integratoin mgr" instead of correctly spelled and standardized titles.

If you want to cut costs, you can start by deduplicating the mailing addresses of your catalog recipients. If you want to avoid the "float" of your billing, clean your address data to ensure that clients receive their bills as quickly as possible.




 
 
 
 
Jake Freivald is the Vice President of Data Strategies for Information Builders (and iWay Software, an Information Builders company). Jake joined Information Builders in 1999 as a product manager where he supported cross-platform product development and deployment. During his career, Jake has held several managerial positions with Andersen Consulting and Prudential Life Insurance Company of America. He also served in the United States Marine Corps as a Signals Intelligence Officer at First Radio Battalion. He graduated from Cornell University with a Bachelor's of Science degree in Electrical Engineering. He can be reached at jake_freivald@informationbuilders.com.
 
 
 
 
 
 
 

Submit a Comment

Loading Comments...

 
Manage your Newsletters: Login   Register My Newsletters























 
 
 
 
 
 
 
 
 
 
 
Rocket Fuel