Finance leaders believe data management is a burden on businesses. Yet less than half of organisations have a data management strategy in place. But data management strategies positively impact security across all lines of business.
Poor data management practices inevitably lead to poor outcomes, with bad decisions based on bad data. Data must also be protected, with weak practices leading to cyber breaches. And the reputational damage to an organisationís brand cannot be underestimated. However, when managed well, data offers a competitive advantage. In the past, data was typically informed historical reporting, with internal needs and compliance taking priority.
There is a new data paradigm. Data is the new currency in the digital age.