Data management is a process which involves the creation and implementation of processes, policies and procedures to manage data throughout its entire lifecycle. It ensures data is accessible and useful, which facilitates regulatory compliance and informed decision-making and ultimately creates a competitive advantage for 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 https://taeglichedata.de/maintaining-data-processes-throughout-the-information-lifecycle that must be consolidated and delivered to business intelligence (BI) and analytics systems as well as enterprise resource planning (ERP) platforms, Internet of Things (IoT) sensors and machine learning and generative artificial intelligence (AI) tools to gain advanced insights.

Without a well-defined and standardized data management strategy, companies can end up with uncompatible data silos and data sets that are inconsistent which hinder the ability to run business intelligence and analytics applications. Inadequate data management can undermine employee and customer confidence.

To address these challenges It is essential that businesses come up with a data management plan (DMP) that includes the necessary people and processes to manage all types of data. A DMP, for example can help researchers decide the file naming conventions that they should use to organize data sets to keep them for a long time and make them easy to access. It may also include data workflows that outline the steps to be taken to cleanse, validate, and integrating raw data sets and refined data sets to allow them to be suitable for analysis.

For companies that gather consumer data, a DMP can help ensure compliance with privacy laws around the world such as the European Union's General Data Protection Regulation or state-level regulations like California's Consumer Privacy Act. It can be used to guide the development and implementation of procedures and policies that address data security threats.