Nicholas Calcanes is the Chief Information Officer at Bank of
America’s headquarters in Charlotte, North Carolina. Having studied
economics and government at college, Nicholas Calcanes started working
as Purchase and Sales Coordinator at First Union Brokerage, and later as
a Registered Representative and District Agent with The Prudential. He
has worked with data management and explains why data management is
important for every business.
Data is Important
Understanding how data interrelates with the business will increase your ability to link information, build strategy, and increase performance in the business. Many businesses use a variety of information in their decision-making process; however, this information is only valuable if it has been fed to the system. When decision makers analyze data in order to make decisions, and the information is not relevant, the problem lies at the entry point where the information was entered into the system. Small discrepancies can make a huge impact to a company’s performance, which is why it is extremely important that proper data management solutions and tools are put in place.
One of the most important things in data management is in identifying what data is required and where it is located. When the data is identified, it has to be extracted and prepared to be sent to the data management or storage facility. The transferred data has to be in a usable format so that it can be accessed by decision makers and used in the business. Nicholas Calcanes recommends making sure that your data is relevant and that it is regularly updated.
Data is ImportantUnderstanding how data interrelates with the business will increase your ability to link information, build strategy, and increase performance in the business. Many businesses use a variety of information in their decision-making process; however, this information is only valuable if it has been fed to the system. When decision makers analyze data in order to make decisions, and the information is not relevant, the problem lies at the entry point where the information was entered into the system. Small discrepancies can make a huge impact to a company’s performance, which is why it is extremely important that proper data management solutions and tools are put in place.
One of the most important things in data management is in identifying what data is required and where it is located. When the data is identified, it has to be extracted and prepared to be sent to the data management or storage facility. The transferred data has to be in a usable format so that it can be accessed by decision makers and used in the business. Nicholas Calcanes recommends making sure that your data is relevant and that it is regularly updated.
