Data management is the set of processes and practices that companies employ to collect data to consolidate, validate it, organize and archive it, and manage its life cycle. It allows businesses to create high-quality data that supports business decision-making and inspires actions.
If you’re looking to enhance your customer experience, or create cutting-edge artificial intelligence (AI) or AI applications, having quality data is essential to success. Modern data management tools provide improved visibility, reliability and security, and can be scalable to meet the requirements of both business users as well as IT.
Effective management does not only guarantee accuracy of data, but also that you have all the resources necessary to achieve your goals including third-party audits and staff training and regulatory compliance. It is easy to invest in areas that aren’t in line with your data management strategy without articulating your goals clearly or having a strategy to achieve them.
Data management is essential
As the amount, variety and velocity of data continue to grow across all industries, it’s vital than ever to have solid Data management practices in place. Without them, you may lose the value of your data and put yourself at a competitive disadvantage to competitors who have implemented these principles.