Data management is a set of procedures and processes that organizations use to collect and consolidate, validate, store, and archive data, as well as manage the lifecycle of data assets. It allows businesses to create and distribute high-quality data that assists in making business decisions and is the basis for actions.
Quality data is crucial to your success, whether to improve customer service or create cutting-edge generative AI applications. Modern solutions for managing data offer increased visibility, reliability security and scalability to support the demands of business users and IT.
In addition to ensuring the accuracy of data, effective management helps ensure that you have the resources to accomplish your goals, from cybersecurity tools and staff training to third-party audits and regulatory compliance. However, without clearly articulated goals or a clear plan to achieve them it’s possible to invest in areas that don’t align with your strategy for managing data.
The importance of managing data
As the quantity, variety and velocity of data continues to increase across industries, it’s more important than ever to establish solid Data management principles in place. Without them, your company may lose the potential value of data, and may be at a disadvantage against competitors who have these principles in place.