Data Management is the process to manage data as a valuable asset, giving consistent access, distribution as well as security and governance by using tools like master data management, data virtualization, self-service data preparation and wrangling. It is also the set of procedures that ensures that an organization is able to meet its regulatory compliance obligations for privacy and protection of data.
Data analytics are only effective when companies have a well-constructed effective, efficient data management strategy. A sound data management strategy will not be the same for every business or organisation.
Most of the time successful data management initiatives require a team effort and strong collaboration across departments. This includes educating employees on data analysis and helping to create a data culture and mindset, especially in companies not already heavily data-driven.
Data management must also address the issue of ensuring that the appropriate people have the right data at the right time. This can be done by democratizing access to data and data analysis, which will make it easier for everyone to use and understand the data they work with. This can also be accomplished by establishing clear lines of responsibility and authority to perform the different tasks associated with managing data.
Data management is a process that requires planning, implementation and ongoing support. It is crucial to consider this at the beginning of a project and to update plans as you advance. This will enable data managers to build an easy-to-read structure, which will save time and effort.
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