Data management is the process of developing and enforcing policies, processes and procedures to manage data throughout its lifecycle. It ensures that data is https://taeglichedata.de/maintaining-data-processes-throughout-the-information-lifecycle/ accessible and useful, assists in regulatory compliance and informed decision-making, and ultimately provides companies with a competitive advantage.
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. The result is a proliferation of data that must be consolidated and pushed to business intelligence (BI) and analytics systems and enterprise resource planning (ERP) platforms, Internet of Things (IoT) sensors and machine learning and generative artificial intelligence (AI) tools for advanced insights.
Without a clear data management strategy, companies can end up with data silos that are incompatible and inconsistent data sets which hinder the ability to manage business intelligence and analytics applications. Poor data management can also erode employee and customer trust.
To meet these challenges It is essential that businesses make a plan for data management (DMP) that includes the necessary people and processes to manage all types of data. For example an DMP can assist researchers in determining the naming conventions for files they should use to structure data sets to ensure long-term storage and access. It can also contain data workflows which define the steps to take for cleansing, validating, and integrating raw data sets and refined data sets to make them suitable for analysis.
For companies that gather consumer data, a DMP can assist in ensuring compliance with privacy laws around the world such as the European Union’s General Data Protection Regulation or state-level regulations such as California’s Consumer Privacy Act. It can be used to guide the development and implementation of procedures and policies to address security threats to data.
