What Is Data Management?

Data Management is the practices and procedures that make data an asset strategic to the business, fueling innovation and decision-making. It involves efficiently gathering data, organizing, protecting and storing data in order to provide an unrivaled source of information.

Effective data management can also assist companies to gain a competitive edge by improving operational efficiency and cutting costs. It enables them to improve customer service, optimize resources to speed decision-making, and react more quickly to market changes. It also helps reduce data security and privacy issues that could damage a company’s reputation, increase the cost of compliance and result in legal liability.

Today, businesses get information from multiple sources such as software as a Service applications as well as application programming interfaces (APIs) mobile apps and Internet of Things (IoT) devices. A data management strategy that integrates these sources can provide one source for reliable, consistent data. It can also reduce the amount of information that must be stored and processed. This can reduce storage costs, and reduce processing burdens.

In a world that is dominated by data, it’s essential that those who utilize it locate what they require quickly and efficiently. It can be difficult to navigate a confusing and expanding data environment especially when it’s difficult to understand how different systems work. Data management tools can ease this challenge by allowing better visibility of data assets via catalogs as well as metadata-driven data dictionaries, and data lineage records. It can also make it simpler for analysts and data scientist to find the data, analyze it, and access it. data.

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