Data management is the process of developing and enforcing rules, processes and procedures to manage data throughout its lifecycle. It ensures that data is useful and easily accessible, facilitates compliance with regulations, and allows for 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. This creates a flood of data that needs to be consolidated and then delivered to business analytics (BI) systems such as enterprise resource management (ERP) platforms as well as the Internet of Things (IoT), sensors, and machine learning and generative artificial Intelligence (AI) tools, to gain advanced insights.
Without a clearly defined data over at this website management strategy, businesses could end up with data silos that are not compatible and inconsistent data sets, which hinder the ability to operate business intelligence and analytics applications. Poor data management can also affect the trust of customers and employees.
To overcome 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 can, for instance, can help researchers determine the appropriate file name conventions they should employ to organize data sets to keep them for a long time and make them simple to access. It may also include data workflows which define the steps to be taken to cleanse, validate and integrating raw data sets as well as refined data sets to make them suitable for analysis.
For companies that gather consumer information, a DMP can assist in ensuring compliance with global privacy laws such as the European Union’s General Data Protection Regulation or state-level regulations, such as California’s Consumer Privacy Act. It can also aid in the development of procedures and policies for dealing with data security risks and audits.
