Answer: Data is important in the organizationg because without it an oraganization will lose its record of transactions and/or its ability to deliver value to its customer .other assets that require protection include the ability of the organization to function,the safe operation of applications and technology assets
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Data is one of the most important assets an association has because it defines each association’s uniqueness. You have data on members and prospects, their interests and purchases, your events, speakers, your content, social media, press, your staff, budget, strategic plan, and much more. But is your data accurate and are you using it fully? Your data is an asset and should be carefully cultivated, managed and refined into information which will allow you to better serve your community and ensure you remain viable in today’s competitive landscape. Although data is one of the most important ‘raw materials’ of the modern world, most organizations do not treat it that way. In fact, according to The Data Warehousing Institute, the cost of poor data quality in America is six hundred billion dollars every year. Data quality issues are also the cause of many failed IT projects. Your data is talking to you, are you listening? The insights you glean from your data are only as good as the underlying data itself. It’s obvious that if the input is flawed, the output will be misleading. When it comes to data, there is a direct correlation between the quality of the data and the accuracy of the analysis. I’m no longer surprised at the high number of duplicate records, and the high percentage of incomplete, inaccurate and inconsistent data we find when we begin to analyze an association’s data. Because it is difficult to quantify the value of data in the same way we can measure cash, buildings and people, the activities designed to manage and protect data as an asset are often low on the priority list. That is, until a business intelligence or analytics project is undertaken. Then suddenly data quality management (DQM) takes center stage. DQM is a Partnership between Business and IT DQM is a Program, Not a Project
DQM is Proactive and Reactive
Sometimes it’s not until a data quality issue surfaces in a publicly embarrassing way that an organization decides to truly tackle the problem – a board report has erroneous data, an association cannot reply quickly to a request for statistics from an outsides source, thereby losing the PR opportunity, the CEO cannot determine the primary contact for an organization in the system. It’s usually only after several situations like these that DQM receives serious attention, but it is unfortunate that it often starts with a search for blame. This engenders fear which represents a threat to the success of a DQM initiative. It is essential that DQM programs begin with acceptance of the current state and commitment to a better future. A promise of “amnesty” with regard to what happened in the past can go a long way toward fostering buy-in for the program. How do you Eat an Elephant? Steps for your First DQM Initiative:
Data is an asset and is one of the most important assets an association has because it is unique in its detail and context and can be used strategically to ensure we remain relevant and viable. When analyzed and leveraged properly it can provide a competitive advantage in attracting and retaining members and creating new sources of non-dues revenue. It is important that the underlying data is accurate and complete and a well-organized DQM program should be considered essential. Worldwide attention is being given to the importance of making “data-driven decisions”. Private industry and government have been using data to guide their decisions for many years and now is the time for associations to recognize data as the valuable asset it is. 2.Why is data the most important asset an organization possesses? What other assetsin the organization require protection? Get answer to your question and much more 3.It is important to protect data in motion (transmission) and data at rest (storage). Inwhat other state must data be protected? In which of the three states is data mostdifficult to protect? Get answer to your question and much more 4.How does a threat to information security differ from an attack? How can the twooverlap? Get answer to your question and much more 5.How can dual controls, such as two-person confirmation, reduce the threats fromacts of human error and failure? What other controls can reduce this threat? Get answer to your question and much more 6.Why do employees constitute one of the greatest threats to information security? Get answer to your question and much more 7.What measures can individuals take to protect against shoulder surfing? Get answer to your question and much more |