Data management is the process of creating and enforcing rules, processes and procedures for handling data throughout its lifecycle. It makes sure that data is available and useful, 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. This results in a proliferation of data that needs to be consolidated, and delivered to business analytics (BI) systems as well as enterprise resource management (ERP) platforms, and the Internet of Things (IoT), sensors, and machine learning and generative artificial Intelligence (AI) tools, to gain advanced insights.

Without a clearly defined data management strategy, businesses could end up with uncompatible data silos and https://taeglichedata.de/maintaining-data-processes-throughout-the-information-lifecycle unbalanced data sets which hinder the ability to run business intelligence and analytics applications. Data management issues can affect the trust of customers and employees.

To meet these challenges businesses must devise a data-management plan (DMP) which includes the processes and people needed to manage all kinds of data. A DMP can, for instance will help researchers identify the naming conventions for files that they should utilize to organize data sets to keep them for a long time and make them simple to access. It can also contain data workflows that specify the steps to be taken to cleanse, validate and integrating raw data sets and refined data sets in order to allow them to be suitable for analysis.

For companies that collect consumer information A DMP can help ensure compliance with global privacy laws like 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 that address data security threats.