02 8 月 The Importance of Data Management

Data management is the process of developing and enforcing processes, policies and procedures to manage data throughout its lifecycle. It ensures that data is reliable and accessible, assists in compliance with regulations, and enables informed decisions.

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 sent to business intelligence (BI) and analytics systems and enterprise resource planning (ERP) platforms, Internet of Things (IoT) sensors and machine learning and Artificial Intelligence generative (AI) tools for advanced insights.

Without a clearly defined data management strategy, companies could end up with uncompatible data silos and unbalanced data sets which make it difficult to run analytics and business intelligence applications. Inadequate data management can reduce the trust of customers and employees.

To address these challenges to meet these challenges, it’s crucial that businesses make a plan for data management (DMP) that includes the necessary people and processes to manage all kinds of data. For instance, a DMP can assist researchers in determining the file naming conventions they should use to structure data sets to ensure long-term storage and access. It may also include a data workflow that defines the steps needed for cleansing, validating and integrating raw and refined data sets in order to make them suitable for analysis.

For businesses that collect consumer data for their customers, 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 creation of policies and procedures to deal with security threats to data and audits.

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