Data management is a method which involves the creation and implementation of policies, procedures 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 creates 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 flood of data that must be consolidated and pushed to https://taeglichedata.de/ business intelligence (BI) and analytics systems as well as enterprise resource planning (ERP) platforms, Internet of Things (IoT) sensors, machine learning and Artificial Intelligence generative (AI) tools to gain advanced insights.

Without a well-defined data management plan, businesses can end up with incompatible data silos and inconsistency of data sets which make it difficult to run business intelligence and analytics applications. Unorganized data management can cause a loss of confidence in employees and customers.

To address these issues companies need to develop a plan for managing data (DMP) which includes the people and processes needed to manage all kinds of data. A DMP can, for instance, can help researchers determine the file naming conventions that they should follow to organize data sets in order to keep them for a long time and make them simple to access. It could also include an data workflow that specifies the steps needed for cleansing, validating and integrating raw and refined data sets to allow them to be suitable for analysis.

For companies that gather consumer information for their customers, a DMP can assist in ensuring compliance with privacy laws around the world like the European Union’s General Data Protection Regulation or state-level regulations, such as California’s Consumer Privacy Act. It can also help guide the formulation of policies and procedures to deal with security threats to data and audits.