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Data management is the process of creating and enforcing policies, procedures and procedures for handling data throughout its lifecycle. It ensures that data is easily accessible and useful, which facilitates the compliance of regulators and makes informed decisions and ultimately provides businesses with an edge in the market.

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 proliferation of data that must be consolidated and delivered to business intelligence (BI) and https://taeglichedata.de/maintaining-data-processes-throughout-the-information-lifecycle analytics systems, enterprise resource planning (ERP) platforms, Internet of Things (IoT) sensors, machine learning and artificial intelligence (AI) tools for advanced insights.

Without a clearly defined strategy for managing data, businesses may end up with data silos that are not compatible and inconsistent data sets, which hinder the ability to manage business intelligence and analytics applications. Unorganized data management can cause a loss of confidence in employees and customers.

To address these issues, companies must develop an effective data-management plan (DMP) which includes the people and processes needed to manage all kinds of data. A DMP, for example, can help researchers determine the appropriate file name conventions they should use to organize data sets to store them long-term and make them simple to access. It can also include an information workflow that outlines the steps involved in cleansing, verifying and integrating raw and refined data sets to make them suitable for analysis.

For companies that collect consumer information For companies that collect consumer information, 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 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.