Data management is a collection of practices and processes used by organizations to collect information, consolidate, validate organize, and archive information and to manage the life-cycle of data assets. It allows businesses to create high-quality data that supports business decision making and drives actions.
The quality of your data is essential to your success, whether you want to improve customer service or create cutting-edge artificial intelligence (AI) or AI applications. Modern data management solutions offer greater visibility, reliability, and security, and can be scaled to meet the demands of both business users and IT.
Effective management does not just guarantee accurate data but also that you have the resources necessary to achieve your goals from third-party audits to training of staff and compliance with regulatory requirements. However, without clearly articulated goals or a clear plan to achieve them it’s easy to invest in areas that aren’t compatible with your data management plan.
Data management is essential
As the quantity, variety and velocity of data continues to increase across all industries, it’s vital than ever to have solid Data management practices in place. Without them, your company may not realize the full value of the data and be being disadvantaged against those who have these principles in place.