Data is an asset
Data is an asset for an organization. We have heard this data management principle multiple times. It has been clichéd to the core but most organizations fail to understand the true meaning of this principle. Let me try and explain this by using an analogy. Let us take an equally clichéd analogy of a car to look at this principle from a new perspective.
Let us assume that your organization’s data is equivalent to a car. You have a new car, you expect it to run smoothly with minimum resources, which it does, for some time, anyway. You use it day in and day out and it works. After a period, if you fail to provide due care, it starts to malfunction. It has a starting trouble. It starts giving less mileage. The paint starts to peel off, the upholstery stinks, and so on.
What do you do if your car gets old and starts giving trouble? You buy a new one. As this is an analogy, the car is actually your organization’s data. But there is one rule that I failed to mention in the beginning, you can not change your car. You are stuck with it for your entire life. If it has starting trouble, you have to push it every time you want to go anywhere. If the neighbors give you not so favorable looks because of the exterior of your car, you have to endure it. If it costs you a fortune to provide tactical fixes which won’t last a month, you have to bear it.
How you wish, you knew from the beginning, you were stuck with one car for life! You would have taken better care of the car! You would not be stuck with an old wreck!
The organization has to live with the existing data that is there. It can not replace it simply because it is not feasible. All data managers know that the activities such as data cleansing are long drawn and expensive. No data manager would like to be stuck with data that costs a fortune to maintain; where all fixes are tactical and short-lived; where just to get the data to do routine work is an ordeal.
All this can be remedied by understanding that the data is not only an asset but it is an irreplaceable asset. With robust data management practices and strong data governance processes, you can make your data go a long way.
Comments
Well Said AJ. The choice is between tinkering (You still have a vintage car which gives bad mileage) and transforming (an avatar which resembles a Merc).
Posted by: Sankara S P | March 5, 2010 5:13 PM
The rule that you mention that one cannot change a car is an assumption. There might be few owners who might want to give up their old car & get a new one for new features or few might have to give up since the car & it's parts are going out of support. With this as analogy, living up with existing data or replacing it has to be a strategic decision governed by different factors and definitely robust data management practices, data governance processes come into picture here.
Posted by: Raghavendra Kulkarni | March 9, 2010 10:42 AM
Interesting thought. While car analogy is good one, there are certain aspects which are bound to vary with time. As organisation grows over period of time, data capture and quality requirements will grow as well. As buying a car is quite objective decision, parameters for data quality and maintenance are tough to define in an elaborate manner. Also, as the data needs grow, it will not be possible to enhance existing data without making necessary changes to it (Somewhat similar to enhancing car mileage by CNG installation :)). Taking an example, sales department doesn't have capability to track user preferences upto weekly level and hence, they don't capture the data at weekly level now. 5 yrs down the line, when the weekly data tracking capability is available, modification or enhancement to existing data will be required to support older data being used consistently (Although it may mean some dummy values to be entered, simply because sales figure at weekly level can't be retrieved from the past!!). Underlying theme is - change is the only constant and data governance teams must ensure that scalability and enahancement are built into data fabric of the organisation
Posted by: Abhishek Gupta | March 11, 2010 7:05 AM