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What Is Data Management?

Data Management is the practices and procedures that make data an asset strategic to the company, encouraging innovation and decision-making. It is the process of efficiently collecting information, organizing, securing, and storing data to provide an unrivaled source of information.

Effective data management can help companies gain an edge by enhancing efficiency in operations and reducing costs. It enables them to enhance customer experience, maximize resources in decision-making, and react faster to market shifts. It can also help minimize privacy and security concerns which could damage a business’s image, increase compliance costs and lead to legal liability.

Companies today receive information from a variety of sources, including software as a service applications such as APIs, mobile apps and Internet of Things devices. A successful data management strategy and software can combine these disparate sources into a single source of reliable, consistent information. It also helps to reduce the amount of data that has to be processed and stored by reducing storage costs and reducing processing load.

In a data-driven world it’s essential that users get what they want quickly and with confidence. It can be challenging to navigate through a complicated and ever-growing data landscape and it can be difficult to understand how different systems function. Data management tools can reduce this process by providing better visibility of data assets via catalogs as well as metadata-driven data dictionaries, and data lineage records. It also makes it easier for analysts and data scientists to find, access and analyze data.