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Data management 'can work in real time'
Sep 3 2010, 10:23 AM
Data management tools can allow businesses to react quickly to changes in the marketplace.
Gary Vasey, Managing Director for Europe and Asia-Pacific for CommodityPoint, explained that data management solutions can tackle a number of problems related to risk management.
He told Commodities Now that one big advantage of using such technology is its ability to keep companies up-to-date with what is going on in their industry.
"These tools are often real-time and event driven, meaning that the data repository has valid data that is populated in near real-time as things like prices change," Mr Vasey explained.
According to a recent survey conducted by Deloitte, one key data management challenge facing many organisations is that of information not being centralised in one location.
It found more than half of the technology professionals it surveyed see 'limited cross-functional interaction' and 'departmentally siloed information' as the top two data management issues facing them.
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