Data management is the process of developing and enforcing processes, policies and procedures for handling data throughout its entire lifecycle. It ensures that data is easily accessible and useful, assists in regulatory compliance and informed decision-making and ultimately provides companies with a https://taeglichedata.de/ 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 flood 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, machine learning and Artificial Intelligence generative (AI) tools to provide advanced insights.

Without a clear data management strategy, businesses may end up with data silos that are not compatible and inconsistent data sets, which hinder the ability to run business intelligence and analytics applications. Inadequate data management can reduce the trust of customers and employees.

To tackle these issues to meet these challenges, it’s crucial that businesses create a data management strategy (DMP) that includes the people and processes needed to manage all kinds of data. For instance the DMP can help researchers identify the naming conventions that they should use to structure data sets for long-term storage and for easy 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 ensure that they are suitable for analysis.

A DMP can be utilized by companies that collect customer data to ensure compliance with privacy laws at the state and global 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 development and implementation of procedures and policies which address threats to data security.