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 useful and accessible, which facilitates compliance with regulations, and facilitates 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 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 generative artificial intelligence (AI) tools for advanced insights.
Without a clear data management strategy, businesses could end up with incompatible data silos and inconsistency of data sets which hinder the ability to run analytics and business intelligence applications. A poor data management strategy can undermine employee and customer confidence.
To address these challenges It is essential that businesses develop a data management plan (DMP) that includes the people and processes required to manage all kinds of data. A DMP, for example can help researchers decide the appropriate file name conventions they should follow to organize data sets to store https://taeglichedata.de/generated-post them over the long term and make them easy to access. It can also include data workflows which define the steps that must be followed for cleansing, validating, and integrating raw data sets as well as refined data sets to make them suitable for analyses.
For companies that collect consumer data, 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 guide the formulation of policies and procedures for addressing data security threats and audits.
