Data management is a set or practices and processes that organizations use to collect data, consolidate, validate, store, and archive data as well as to manage the lifecycle of data assets. It allows businesses to produce high-quality data that supports business decision making and drives actions.
Data quality is vital to your success, whether you wish to improve customer experience or create cutting-edge machine learning AI applications. Modern data management solutions offer increased visibility, reliability and security and can be scalable to meet the needs of both business users as well as IT.
Effective management does not just guarantee accurate data, but also that you have all the resources required to achieve your goals including third-party audits and training for staff and regulatory compliance. It is easy to invest in areas that aren’t in line with your plan for managing data without defining your goals clearly or having a plan for achieving them.
Data management is important
As the amount and variety of data continue to grow across industries, it’s more important than ever to establish solid Data Management principles in place. Without them, your company could lose the value of data and end up in a position of disadvantage to those who have these principles in place.
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