Data management is a method that involves creating and enforcing policies, procedures and processes to handle data throughout its entire life cycle. It ensures that data is useful and accessible, assists in compliance with regulations and allows for informed decisions.

The importance of effective data management has grown significantly as organizations automate https://taeglichedata.de/information-lifecycle-management-establishing-data-processes their business processes, leverage software-as-a-service (SaaS) applications and deploy data warehouses, among other initiatives. This results in a plethora of data that needs to be consolidated and delivered to business intelligence (BI) and analytics systems, enterprise resource planning (ERP) platforms, Internet of Things (IoT) sensors, machine learning and artificial intelligence (AI) tools for advanced insights.

Without a clear data management strategy, companies can end up with data silos that are incompatible and inconsistent data sets which hinder the ability to operate business intelligence and analytics applications. Inadequate data management can affect the trust of customers and employees.

To meet these challenges companies need to develop an effective data-management plan (DMP) which includes the people and processes required to handle all kinds of data. For example the DMP can help researchers identify the file name conventions they should employ to structure data sets for long-term storage and access. It could also include data workflows that outline the steps that must be followed to cleanse, validate, and integrating raw data sets as well as refined data sets in order to make them suitable for analyses.

For businesses that collect consumer information For companies that collect consumer information, a DMP can help ensure 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 be used to guide the development and implementation of procedures and policies which address threats to data security.