Data management refers to the set of practices and procedures organizations employ to collect information, consolidate it, validate it, arrange and archive it, and manage its lifecycle. It helps businesses create high-quality data that supports business decision making and can drive actions.
If you’re looking for ways to improve the customer experience or create cutting-edge artificial intelligence (AI) or AI applications, having the right data is vital to success. Modern data management tools provide greater visibility, reliability, security and scalability that can meet the requirements of business users and IT.
Effective management not only ensures accurate data, but also ensures that you have the resources necessary to achieve your goals from third-party audits to training for staff and regulatory compliance. It is easy to invest in areas that aren’t compatible with your plan for managing data without defining your goals clearly or having a plan to reach them.
Data management is important
As the amount, variety and velocity of data continue to grow across industries, it’s more vital than ever to have solid Data management principles in place. Without them, your company could lose the potential value of data, and may be at a disadvantage against competitors that have these guidelines in place.
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