Data management is the process of creating and enforcing policies, procedures and procedures for handling data throughout its entire lifecycle. It ensures that data is accessible and useful, which facilitates the compliance of regulators and makes informed decisions and ultimately gives 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. This results in a growing amount of data that needs to be consolidated and sent to business analytics (BI) systems as well as enterprise resource management (ERP) platforms, Internet of Things (IoT), sensors, and machine learning and generative artificial Intelligence (AI) tools, to gain advanced insights.

Without a clearly defined data management plan, businesses can end up with uncompatible data silos and unbalanced data sets that hamper the ability to run business intelligence and analytics applications. A poor data management strategy can reduce the trust of customers and employees.

To overcome these challenges it is crucial that companies make a plan for data management (DMP) that includes the necessary people and processes to manage all kinds of data. For instance, a DMP will help researchers determine the file name conventions they should use to structure data sets for long-term storage and easy access. It can also contain data workflows that define the steps to follow for https://taeglichedata.de/pflege-von-datenprozessen-nach-sitzungssaal/ cleansing, validating, and integrating raw data sets as well as refined data sets to make them suitable for analysis.

A DMP can be used by companies that collect consumer data to ensure compliance with privacy laws on a global and state scale, such as the General Data Protection Regulation of the European Union or California’s Consumer Privacy Act. It also can guide the creation of policies and procedures for addressing data security threats and audits.