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Back to Articles Apr 7, 2023 Data Management Systems and Tools WhatsApp Number ArticlesDigital StrategyData and Analytics by Digital Marketing Institute Data, information, knowledge, and wisdom With so much data being collected by organizations, it can be a challenge to know how to manage and analyze it properly. Enter data management systems and tools... Data management systems help organizations optimize the use of data to make decisions and take actions that will maximize the benefits to the organization.
The systems do this by collecting, processing, securing, and storing data in a way that can be used for strategic decision-making. This can be explained further by looking at the DIKW pyramid. The DIKW Pyramid The DIKW Pyramid The DIKW pyramid represents the relationship between data, information, knowledge, and wisdom. Each building block is a step towards answering different questions about data collection and adding value to it. You can answer questions like, where are my sales likely to come from next year or who are my top customers? The more data that can be enriched with meaning and context, the more knowledge and insights can be extracted. What role does each of the steps play?
Back to Articles Apr 7, 2023 Data Management Systems and Tools WhatsApp Number ArticlesDigital StrategyData and Analytics by Digital Marketing Institute Data, information, knowledge, and wisdom With so much data being collected by organizations, it can be a challenge to know how to manage and analyze it properly. Enter data management systems and tools... Data management systems help organizations optimize the use of data to make decisions and take actions that will maximize the benefits to the organization.
The systems do this by collecting, processing, securing, and storing data in a way that can be used for strategic decision-making. This can be explained further by looking at the DIKW pyramid. The DIKW Pyramid The DIKW Pyramid The DIKW pyramid represents the relationship between data, information, knowledge, and wisdom. Each building block is a step towards answering different questions about data collection and adding value to it. You can answer questions like, where are my sales likely to come from next year or who are my top customers? The more data that can be enriched with meaning and context, the more knowledge and insights can be extracted. What role does each of the steps play?