Vectors of Managing an Organization’s Data Economy

The contribution presents the main development vectors of data economy management in an organization. The concept of data-driven management allows a company to redirect its business processes according to market demand and supply. Data analysis is divided into descriptive, diagnostic, predictive and prescriptive. In general, there are two basic strategies that companies follow when managing based on data: defense ones (they are aimed at minimizing risks) and offense ones (aimed at growing the business). The main vectors in modern data management that are worth tracking and studying for their applicability to business and industry are highlighted: data factory, data management in the cloud, data management augmentation, and augmented analytics. All data-driven companies, regardless of sector, product or service, have consistency, transparency, flexibility, integration and security. In the data management, tools for collecting data, visualizing it, and converting it into knowledge play an important role. This knowledge can be used to solve problems that allow you to use the accumulated data efficiently and profitably. Companies that manage their data effectively gain new opportunities to grow their business.