Data Management

Data Management 

Data management plays a significant role in an organization’s ability to generate revenue, control costs and mitigate risks. Successfully being able to share, store, protect and retrieve the ever-increasing amount of data can be the competitive advantage needed to grow in today’s business environment.

Management of data generally focuses on the defining of the data element, how it is structured, stored and moved. Management of information is more concerned with the security, accuracy, completeness and timeliness of multiple pieces of data. These are all concerns that accountants and finance managers are trained to assess and help manage for an organization.

Highlighted Resources

Highlighted business intelligence reports
Records Information Management
Records Information Management (RIM) is the practice of managing and controlling what are considered to be the most important records of an organization throughout the record life cycle.

What Good Recordkeeping Means to the Company and You
AICPA IMTA has partnered with ARMA to offer a valuable member benefit resource video describing recording keeping and information governance principles and best practices.

An Overview of Data Management
This document provides an overview to help accountants understand the potential value that data management and data governance initiatives can provide to their organizations, and the critical role that accountants can play to help ensure these initiatives are a success.

A Practice Aid for Records Retention
This practice aid provides an overview of what to consider when assessing records retention requirements, discuss possible frameworks that can be applied in the development of a records retention policy, and provides an overview of the factors that organizations should consider in assessing their records retention needs and strategy for development of a records retention policy.

Effective Management of your Records and Data (Podcast)
Nancy A. Cohen, CPA.CITP, CIPP discusses the considerations for safeguarding personally identifiable information. As systems and processes become more complex and sophisticated, ever more personal information are being collected. Because more data is being collected and held, personal information may be at risk to a variety of vulnerabilities, including loss, misuse, unauthorized access, and unauthorized disclosure.

Data Analytics

Desktop computers for data management and retentionWhy Predictive Analytics Should Be “A CPA Thing” 
This paper explains the value of PA and explain why CPAs are well positioned to be crucial participants in its adoption.

CGMA Report: Improving Decision Making in Organizations - Unlocking Business Intelligence
This CGMA report discusses how to translate big data into information so that organizations can successfully balance cutting costs to improve efficiency with continuing to invest to develop their competitive position.

How CPAs Can Drive Business Intelligence (Article)
Donny Shimamoto, CPA/CITP explains why CPAs are especially suited to drive Business Intelligence initiatives for their clients, or within their own organization.

CGMA Report: From Insight to Impact - Unlocking Opportunities in Big Data
This CGMA report discusses where finance sees data's potential and how to harness data for a competitive advantage and how to turn insight into impact.

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