Data management is a method that involves the creation and enforcement of procedures, policies and procedures to manage data throughout its entire lifecycle. It ensures that data is accessible and useful, which facilitates the compliance of regulators and makes informed decisions, and ultimately provides an advantage to 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. The result is a proliferation of data that must be consolidated and delivered to business intelligence (BI) and analytics systems and enterprise resource planning (ERP) platforms, Internet of Things (IoT) sensors, machine learning and artificial intelligence (AI) tools to provide advanced insights.
Without a well-defined data management strategy, companies can end up with uncompatible data silos and inconsistent data sets which make it difficult to run analytics and business intelligence applications. Unorganized data management can undermine employee and customer confidence.
To meet these challenges to meet these challenges, it’s crucial that businesses develop a data management plan (DMP) that includes the processes and people required to manage all kinds of data. A DMP, for example can assist researchers in determining the naming conventions for files that they should use to organize data sets to store them over the long term and make them simple to access. It can also include data workflows that define the steps that must be followed for cleansing, validating and integrating raw data sets as well as refined data sets in order to allow them to be suitable for analysis.
For organizations that collect consumer information A DMP can assist in ensuring compliance with global privacy laws like the European Union’s General Data Protection Regulation or state-level laws like California’s Consumer Privacy Act. It can also help guide the creation of look at more info policies and procedures to address security threats to data and audits.