Data management is the process of developing and enforcing rules, processes and procedures to manage data throughout its entire lifecycle. It ensures that data is useful and accessible, which facilitates compliance with regulations, and allows for informed decision-making.

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. The result is a growing amount of data that needs to be consolidated and delivered to business intelligence (BI) and analytics systems, enterprise resource planning (ERP) platforms, Internet of Things (IoT) sensors, machine learning and Artificial Intelligence generative (AI) tools to provide advanced insights.

Without a clearly defined data management plan, businesses may end up with data silos that are not compatible and inconsistent data sets which hinder the ability to run business intelligence and analytics applications. Poor data management can also cause a loss of confidence in employees and customers.

To overcome these challenges it is crucial that companies come up with a data management plan (DMP) that includes the necessary people and processes to manage all kinds of data. A DMP can, for instance can assist researchers in determining the file naming conventions that they should employ to organize data sets in order to store them long-term and make them simple to access. It could also include an information workflow that outlines the steps involved in cleansing, validating and integrating raw and refined data sets in order to make them suitable for analysis.

For organizations that collect consumer information, a DMP can assist in ensuring compliance with privacy laws around the world like the European Union’s General Data Protection Regulation or state-level regulations like California’s Consumer Privacy Act. It can also aid in the creation of policies and procedures to deal with security threats to data and https://taeglichedata.de/information-lifecycle-management-establishing-data-processes/ audits.