Data management is a method that involves creating and enforcing procedures, policies and processes to manage data throughout its entire lifecycle. It ensures that data is easily accessible and useful, which facilitates the compliance of regulators and makes informed decisions, and ultimately provides https://taeglichedata.de/information-lifecycle-management-establishing-data-processes/ businesses with an edge in the market.
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 needs to be consolidated, and then delivered to business intelligence (BI) and analytics systems such as enterprise resource planning (ERP) platforms, Internet of Things (IoT) sensors and machine learning and Artificial Intelligence generative (AI) tools to provide advanced insights.
Without a well-defined data management strategy, companies could end up with incompatible data silos and inconsistency of data sets which make it difficult to run analytics and business intelligence applications. Inadequate data management can erode employee and customer trust.
To tackle these issues, companies must develop a data-management strategy (DMP) which includes the processes and people needed to handle all kinds of data. A DMP can, for instance can help researchers decide the appropriate file name conventions they should employ to organize data sets to store them long-term and make them easy to access. It may also include the data workflow that outlines the steps to cleanse, checking and integrating raw as well as refined data sets to make them suitable for analysis.
A DMP can be used by organizations that collect consumer data to ensure compliance with privacy laws on a global and state level, such as 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 procedures and policies which address threats to data security.
