Businesses across the globe are trying to find new and more thrilling ways of gaining competitive advantage in today’s digital economy. The trouble is that most of them ignore data challenges while pursuing more exciting venues. This unawareness an end up costing them in efficiency and missed opportunities. Data protection and transparency must be employed together if modern businesses are to succeed. Project management certification especially PMP certification can give data specialists the expertise to do just this

Data management includes collecting, storing, and using data responsibly and cost-effectively. It helps companies and people optimize the use of data while staying within the bounds of regulations, and policies, etc. 2019 will bring us even more stringent regulations as companies struggle to create robust data management strategies that help them rely more than ever on intangible assets to create real value.

In the modern digital economy, data is just as important as an organization’s capital. It has become an economic factor of creation in digital goods and services. Take, for example, the manufacturing of cars. The car makers need finances to build their cars, and they also need data to make their cars autonomous vehicles. The onboard algorithms are only as efficient as the information fed to them. This is just one of the hundreds of examples of ways that data has implications for businesses in 2019. It is an important part of the competitive strategy, yet businesses are having a hard time adapting.

These are the biggest data management challenges that businesses will face in 2019 and beyond:

• Doing Data Protection Right

Enterprises will have to accommodate consumer demands for better data protection across social media sites, cloud apps, operating platforms and more. 2019 will also watch them struggling to meet the increased need for transparency about data collection and sharing. Any companies that hope to accomplish these goals must adopt improved technology solutions that will help better protect data. The future is built on accountability and speed.

That is why it is important to ensure that data management of the future includes detailed reports, not only to enterprises but also to their customers, about data usage. In 2019 and beyond, we are also looking forward to more laws and smarter regulations regarding data protection as the technological advancements change according to these needs. CEH training delivers insights to do this right.

• Automation, Machine Learning and AI Are Priming for a Takeover

Artificial Intelligence and Machine Learning are two technologies that are showing plenty of promise for improvement in data quality and data management solutions. And many organizations are starting to turn their attention to them in 2019. Automation is taking over, and it is strongly supplemented by these technologies. This will help scale data management and reduce the need for more staff across organizations.

With new technologies come new trials and tests. 2019 will see the advent of AI and machine learning beyond the realm of fantasy and film. These techs are now becoming a very viable reality. More organizations will grow to incorporate these technologies into their applications and processes. It may be a struggle to see where these fit into the broader data management services and analytics, but soon enough enterprise will begin to see meaningful results.

These new technologies require a solid foundation to bring forth viable results. So, it will be another change for enterprises to ensure that their existing processes and systems are powerful enough to incorporate these new technologies without a glitch.

• Governance Challenges

Governance is a growing impediment for organizations and their data management services. As many more of them move data to cloud facilities, regulations tighten around them, governing how they use and access this information. These regulations also govern data collection practices as well as the protection of personal data for business purposes.

Many companies rely on monetizing data they have been given by their website and service users. This can be adverse for those users, especially the ones who never opted into providing their data to third-party services. Regulatory attention is ensuring their rights and protection.

Companies will have to prepare to follow laws that are based on the tenets of consumer data protection. This will be critical to their success. They must find a balance between being agile and being compliant. Exploration of new data technologies must not hinder their control of data.

• Unlocking Big Data Insights

Some experts suggest that all data is now big data. That’s why organizations are increasingly looking for new data lake concepts that bring together exciting new technologies such as Hadoop Distributed File System Infrastructure, relational and non-relational data storage, event streams etc. The trouble is that it can be difficult to get them to work together, deliver results and perform in an auditable manner.

But productivity challenges are just the start. Poor data management can cripple the performance of an enterprise. However, it is not even the data volume that is the problem. Extracting meaningful information from good and bad data is difficult. Although the technology to process billions of transactions and entries is easily available and quite inexpensive, it is not easy to get value and insights from it.

Advanced analytics, when used in tandem with good data management tech, can help uncover new opportunities and unforeseen threats. 2019 will bring us some thrilling new ways of using advanced analytical capabilities to solve problems that may have taken a huge team and many years of hard work.

The Last Word

Over the past year or so, data management has emerged as a source of energy for modern businesses, giving them the tools and technologies, they need to succeed. 2019 undoubtedly brings us many new data management opportunities and challenges. But overall, if adhered to, the tenets of quality data management will help organizations run more efficiently. It will help them protect data, meet client’s demands, and reap some serious advantages from these emerging technologies of 2019.

Large and small business alike could deploy the transformative powers of data management in 2019 and reap its many benefits, namely increased digitization, better human interactions and using data to mine better leads leading to bigger profits.