In marketing, having a data management plan is crucial for all organisation sizes as it is used to provide valuable insight which will strengthen consumer relationships.
In the modern economy, we have access to more data than ever. This data creates a foundation for important decisions which will impact the future of your business. To people have the right data for decision-making, companies must invest in data management solutions that improve all business functions effectively.
What is it?
Data management is the process of acquiring, storing, protecting and retaining the data which has been generated by an organisation. Here at Lloyd James, we have our own platform which has helped our customers use their data intelligently. By using our own in-house rules, we have enhanced our customer data management systems to merge all contributor data into one single view. Click here to learn about our company mission.
Importance of database management software
For customer-focused businesses, using data management services such as data quality management are essential as it ensures data is updated and regularly checked. For a CRM system, this is especially important as old data will be removed from the system.
It is also important to consider data lifecycle management, a process which helps a company to maintain its data flow. The five stages of the data life cycle are:
There are various solutions which will ensure a company has an up-to-date database with a controlled data lifecycle to ensure that data in a system is being stored and used effectively. At Lloyd James we are here to build on what you do know and expand on what you don’t. For any queries, please click here to request a call back.
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