With the recent mass-scale shift to
digital and remote working, the business world is dealing with unparalleled levels
of data being generated on a daily basis. The magnitude of this data alone isn’t
really the issue. Rather it’s the proportion of the collected information which is
hoovered up by enterprise systems that is ultimately valueless; in fact, it’s
estimated that 90% of data is never accessed again 90 days after it is stored. Not
only does this unnecessary data fill already-saturated storage systems, it becomes a
liability requiring ongoing management.
The fast acceleration rate of newly generated business information means
data management needs to be viewed as a core priority for both the technical and
non-technical executives alike. No longer is it just about where and how your data
is stored, but the reasons for doing so too. The data management decisions you make
can have sweeping impacts on everything from growth capability, profitability and
organizational sustainability.