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Data Resource Management in a Changing Business Environment

written by: Ronda Bowen • edited by: Michele McDonough • updated: 7/8/2009

In this article, I discuss data resource management and its effective implementation.

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    What is Data Resource Management?

    Data Resource Management is the development of data models in order to allow different systems to share data. Because data administration routinely falls flat, practicing careful data resource management can help organizations to succeed. This new focus on data resource management rewrites the way that organizations handle business data.

    Because businesses often have piles of data from market research to risk analysis, they are often drowning in data. A widespread data resource problem among organizations is having disparate data. Disparate data is data that has no commonality in kind, quality or character. Thus, organizations must make a conscious effort to contain data and support their information demand.

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    How can Data Resource Management be Implemented?

    By implementing data resource management, you can help your company to plan more strategically, maintain an inventory of references, and reduce duplication of data and systems. In order to implement such a plan a strategic approach must be taken. The following are the steps to building a system for data resource management.

    1. Create a plan for the data resource management system: Ensure that this plan includes vision and mission statements. With clearly stated goals, you can be secure in the fact that any data that is stored will be data that is relevant to the business and project at hand.

    2. Determine who the best resources are for managing this data: You will want to employ the most diligent individuals to organize and secure the data resource. Just imagine the cost – both financially and fiscally if the wrong person has this job.

    3. Research what currents systems are in place for data resource management: Determine what is working and what is not working. For example, if you are a professor you may have files filled with research but you may not know where any given article is.

    4. Once holes in the current system have been detected: it is time to come up with a plan for filling in these holes - either through constructing a more streamlined plan for data resource management or by purchasing software.

    5. Implement this plan through the company: To ensure the success of the data resource management plan the required steps for implementation must be planned to ensure a smooth transition.

    6. Review on a regular basis the needs of the organization when it comes to data resource management for projects: Technology is ever changing and organizational requirements change and evolve, it is a necessity to continuously review your current method of data resource management.

    By following these steps, you can begin to sort through the seaweed and find the reef when it comes to your data. It is important to keep perfect data separate from possibly flawed data and so on. This is because it is too easy to cite material that might be inaccurate to clients and have this balloon up into a defect. By keeping organized when it comes to data, your team can become more productive – by not worrying about the little things. Training is available for learning how to successfully implement data resource management. For more information on managing resources in your company, see the article "Business Resource Management."