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The proliferation of data across your organization makes it challenging to stay on top of the latest financial trends and performance metrics. This can result in costly delays and missed opportunities while you try to make sense of the volume of information.

Data management is a complex process that involves many issues. These include managing relationships, identifying data owners and managers as well as ensuring data integrity throughout its entire life. These problems are compounded when there is a risk to the integrity of data or a loss of trust. This inhibits the use data to make strategic decisions.

One of the biggest problems in managing data is the necessity of integrating and consolidating data from multiple applications, systems and databases. Large organizations typically have a multitude of enterprise-level applications with data stored in a variety of locations. These applications can be confusing because they use different formats and have their own data schemas. This is especially the case when data engineers have to create new SQL queries in order to retrieve data.

Another challenge is establishing clear roles and authorizations, which ensure that only authorized employees have access to data relevant to their duties. This ensures integrity of the data decreases the chance of unauthorized entry, and improves efficiency of operations. It’s important to keep an eye on, optimize and maintain your database regularly. By doing this, you improve efficiency, reduces the risk of redundancies and data silos, and reduces the amount time IT teams are occupied with manual processes.

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