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Tools used for controlling and improving business processes. Tools used for data consolidation and decision making. Nowadays, management tools have evolved dramatically in the last decade thanks to fast technology advances, so fast that it is difficult to select the best business tools for any situation in any company. [4]
Enterprise data management (EDM) is the ability of an organization to precisely define, easily integrate and effectively retrieve data for both internal applications and external communication. EDM focuses on the creation of accurate, consistent, and transparent content.
Marketing departments in organizations and marketing companies conduct data collection and analysis by collecting data from different data sources and analyzing them to come up with insightful data they can use for strategic decision-making (Baier et al., 2012).
Data governance involves the coordination of people, processes, and information technology necessary to ensure consistent and proper management of an organization's data across the business enterprise. It provides all data management practices with the necessary foundation, strategy, and structure needed to ensure that data is managed as an ...
The Data Owner is responsible for the requirements for data definition, data quality, data security, etc. as well as for compliance with data governance and data management procedures. The Data Owner should also be funding improvement projects in case of deviations from the requirements. The Data Steward is running the master data management on ...
ISO 8000 is the international standard for Data Quality and Enterprise Master Data.Widely adopted internationally [1] [2] [3] it describes the features and defines the requirements for standard exchange of Master Data among business partners.
In today's age of big data, organizations have more information under their control than ever before. [15] To extract the maximum value from that data while simultaneously protecting an organization from its associated risks, business leaders have turned toward the CIGO because of the role's independence from other departments.
Business analytics makes extensive use of analytical modeling and numerical analysis, including explanatory and predictive modeling, [2] and fact-based management to drive decision making. It is therefore closely related to management science. Analytics may be used as input for human decisions or may drive fully automated decisions.