Data management refers to the set of procedures and practices organisations employ to collect data to consolidate, validate it, organize and archive it, and manage its life cycle. It allows businesses to create and distribute high-quality data that supports business decision-making and can drive the actions.
The quality of your data is essential to your success, whether to improve customer experience or create cutting-edge artificial intelligence (AI) or AI applications. Modern data management solutions provide greater visibility, reliability, and security and can be scalable to meet the demands of both business users and IT.
In addition to providing accurate data, effective management helps ensure that you have the resources you need to reach your goals – from cybersecurity tools and staff training to third-party audits and regulatory compliance. But, if you don’t have clearly defined goals or a clearly defined plan for achieving them it’s possible to invest in areas that don’t fit with your data management strategy.
The importance of managing data
It is more vital than ever that Data management principles are in place as the volume, variety, and velocity of data continue to increase across all industries. Without them, your company could lose the value of data, and may be being disadvantaged against those that have these guidelines in place.