Data management ‘can affect business performance’

Firms may wish to take the advice of one expert on board and tailor their data management software to ensure the best results.

Daniel Teachey, writing for Information Management magazine, said such technology can have a significant bearing on the performance of a company.

Especially in times like these, when the global economy is uncertain, organisations should spend money in areas that are sure to provide the biggest returns.

Many do not place data management within this bracket, although the author suggested it perhaps should be.

"Improperly managed data will ultimately affect your relationship with customers – and impact your bottom line," Mr Teachey stated.

He noted targeting data management and perfecting it can be a positive step for both bricks-and-mortar firms and online retailers.

Russell Parsons, author of a piece for Marketing Week, recently suggested data security should not be the only consideration for businesses intent on attracting customers, as producing the right content from the information available is also important.