Data management is a procedure that involves creating and enforcing procedures, policies and processes to handle data throughout its entire lifecycle. It ensures data is accessible and useful, facilitating the compliance of regulators and makes informed decisions and ultimately provides a competitive advantage for businesses.
The importance of effective data management has grown significantly as organizations automate their business processes, leverage software-as-a-service (SaaS) applications and deploy data warehouses, among other initiatives. This creates a flood of data which must be consolidated and sent to business analytics (BI) systems as well as enterprise resource management (ERP) platforms, Internet of Things (IoT), sensors, and machine learning, as well as generative artificial Intelligence (AI) tools, to provide advanced insights.
Without a clearly defined data management strategy, companies could end up with incompatible data silos and data sets that are inconsistent which make it difficult to run analytics and business intelligence applications. Poor data management can also reduce the trust of customers and employees.
To address these issues, companies must develop a data-management strategy (DMP) that includes the processes and people needed to manage all kinds of data. A DMP can, for instance, can help researchers determine the conventions for naming files that they should employ to arrange data sets to preserve them over time and make them easy to access. It may also include a data workflow that defines the steps involved in cleansing, verifying and integrating raw and refined data sets to make them suitable for analysis.
A DMP can be used https://taeglichedata.de/pflege-von-datenprozessen-nach-sitzungssaal by organizations that collect consumer data to ensure compliance with privacy laws at the state and global level, like the General Data Protection Regulation of the European Union or California’s Consumer Privacy Act. It can be used to guide the creation and implementation of policies and procedures which address threats to data security.