Metadata
There is no point in going around data. Everyone has heard of it by now; whether it is about tracking ‘regular’ company data, cellular device data, data about (potential) customers that visit a commercial website, or the data used to make predictions on the weather. Many different types of data exist, which causes the following question to arise: what about the data of data? Due to the increased value of metadata, it is important to know how you can unlock the hidden value of metadata. Rest assured! We will explain this in this blog post.
The data of data is called ‘metadata’. To properly record, manage, and interpret data, this metadata is required. It gives insights in your data, and by properly analysing and governing your metadata, companies become more data driven. Companies can profit from several benefits when they have insights in where the data is stored, who has access to it, what the data means, and what the quality of the data is. According to McKinsey, metadata includes:
- Descriptive metadata; describes the content of the data.
- Administrative metadata; provides information about management and preservation of files.
- Technical metadata; describes the technical aspects, such as the size of a file.
How to Manage Metadata
However, to reach these benefits and increase the economic outcomes (called monetisation), metadata need to be properly governed, meaning that one should manage the availability, useability, integrity, security, and privacy of the data. Metadata needs to be updated continuously, and it should be structured in an easy way. Firstly, a central point of contact is important. Employees should know how and to whom to reach out when they have questions about the company’s metadata and its storage. Top-level management should be aware of the existence of the metadata and its data monetisation. Secondly, employees should be trained to use the metadata accordingly. It is important that everyone has a global understanding of the company’s metadata.
A first step is making sure employees know what metadata is and where it is captured, stored, and processed. Having insights in the usage of yout company’s metadata comes with several benefits. First, the quality of the data increases as bottlenecks in the data processing pipelines can be easily identified. Thereby, when individuals know where the data comes from, who the owner is, and what is done with it, this will result in faster creation of new insights, resulting in greater productivity and reduced employee costs.
Metadata becomes increasingly important for search engines and digital platforms, as it helps these systems understand the content and context of the files. This makes it easier to discover and access the information needed, triggering the classification of files and enabling retention and digital processes.
