n a scenario where the importance of the customer in business operations is increasingly recognized, data management has become a more challenging task. Given the democratization of data, companies need to invest in simplified solutions for the collection, organization, management, and interpretation of this information.

Making decisions guided by real data is a fundamental step for companies to move towards digital transformation and provide increasingly better experiences for their audience. In this context, the need arose to use an intelligence capable of centralizing data analysis.

And with data management, companies can optimize their operations. Below, see how it works and its advantages.

‍

What is data management?

Data management is the application of software capable of collecting, storing, and organizing data from different sources with the goal of facilitating decision-making in a company . In Portuguese, "data management" means "gerenciamento de dados".

Corporate governance is responsible for providing protocols for implementing this type of solution. Corporate governance is the practice of "governing the company," that is, administration by a group of executives whose role is to define processes, customs, and policies that regulate the management of a company.

‍

What is the importance of Data Management?

Data from numerous sources, and in numerous formats, can be collected to make a company's decisions more effective. Information about customers, for example, can come from social networks, loyalty programs, and sales history. This is where Big Data solutions make a difference, as they facilitate the interpretation of large volumes of data with numerous variations.

Generally speaking, the mass of data collected by data management is commonly classified as follows:

• First-party data: This refers to data generated from the company's database (website, social media, CRM, etc.). It includes personal data such as name, gender, email, age, and location, as well as data related to customer history, derived from sales and complaints, for example.
• Second-party data: This refers to data purchased from other sources with the goal of strengthening a company's strategies, such as customer surveys and app usage data.
• Third-party data: This refers to data collected from other websites on the internet to enrich knowledge about the customer, such as interests, habits, marital status, etc.

The goal of data management software is to capture and integrate the data generated by these three categories and transform it into knowledge for companies. The results are: better targeting of investments, segmented campaigns for the audience, and increased conversion rates.

‍

What are the advantages?

Data management software simplifies access to information crucial for business growth. It can optimize the time spent on processes and reallocate labor according to the most strategically valuable tasks, resulting in cost reduction and increased productivity for the entire team.

With a solution focused on data analysis, company management can gain a broader and more reliable view of the market and its customers. And to implement data management, the technical expertise of specialists is fundamental, as it ensures data security and the best solutions according to the company's needs.

Did you enjoy the content? Academy IN offers customized courses focusing on management perspectives, organizational effectiveness, analytical information environments, and other topics within the Business Intelligence (BI) universe.

‍