Data Management is the practices and procedures that make data a strategic asset for the company, encouraging innovation and decision-making. It involves gathering and organizing, securing and efficiently storing data to ensure a reliable source of information.

Effective data management can also help companies gain advantage in the market by improving the efficiency of their operations and reducing expenses. It enables them to improve the customer experience, maximize their resources, accelerate decision-making and react faster why not find out more to market changes. It also reduces privacy and security concerns that can damage the reputation of an organisation, increase costs of compliance, and result in legal liabilities.

Companies today receive information from many sources, including software-as-a service applications, APIs, mobile apps and Internet of Things devices. A data management strategy that blends these diverse sources can result in one source of reliable, consistent data. It also reduces the amount of data that has to be processed and stored which saves on storage costs and reducing processing workloads.

In a society that is driven by data, it is vital that those who work with it find what they need quickly and effectively. It can be challenging to navigate a complicated and growing data environment and it can be difficult to comprehend how the various systems interact. Data management tools can ease the complexity by providing better visibility of data assets through catalogs as well as metadata-driven data dictionaries, and data lineage records. It can also make it easier for data scientists and analysts to find information, access and analyze data.