The Importance of Data Management

Data management is the process of developing and enforcing policies, procedures and procedures for handling data throughout its lifecycle. It ensures that data is reliable and accessible, facilitates regulatory compliance, and permits informed decision-making.

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 delivered to business intelligence (BI) and analytics systems as well as enterprise resource planning (ERP) platforms, Internet of Things (IoT) sensors and machine learning and generative artificial intelligence (AI) tools to gain advanced insights.

Without a clearly defined data management strategy, companies can end up with data silos that are incompatible and inconsistent data sets that hinder the ability to run analytics and business intelligence applications. Unorganized data management can affect the confidence of employees and customers.

To tackle these issues it is crucial that companies create a data management strategy (DMP) that includes the people and processes needed to manage all types of data. For instance the DMP will help researchers determine the file naming conventions they should use to structure data sets to ensure long-term storage and easy access. It can also include data workflows that outline the steps to follow https://taeglichedata.de/pflege-von-datenprozessen-nach-sitzungssaal for cleansing, validating, and integrating raw data sets as well as refined data sets to allow them to be suitable for analysis.

A DMP can be used by companies that collect consumer data to ensure compliance with privacy laws at the global and state level, like the General Data Protection Regulation of the European Union or California’s Consumer Privacy Act. It can also be used to guide the creation and implementation of procedures and policies which address threats to data security.