Data is increasingly seen as an important corporate asset. It drives decisions, improves campaigns, improves operations, and helps cut costs. This data is only useful to the company if it’s well-organized and easily accessible. That is where the discipline of data management comes in.
Data management is the procedure that establishes procedures to govern how data are kept, stored and used for business. The term also refers to processes and systems that help ensure that the accuracy, completeness and reliability of data, and up-to-date.
Companies today have to deal with a massive amount and variety of data from structured, regulated data to unstructured and informal sources. This growing complexity is fueling the development of new tools to manage and processing this data. New technologies include faster processing methods cloud-based services to handle huge amounts of data and new ways to organize this data into structures that are simpler to use for analytics and BI applications.
New regulations such as GDPR make it even more essential to have a system for managing personal information and allowing individuals to control how their information is stored, shared and used. Some of these technologies are designed to make data environments simpler to manage by automating integration, facilitating reuse, and some are based upon decentralized architectures and federated governance, which gives every business unit the capacity to agree on organizational policies and standards. Some companies are leveraging data observability as a means to track and report on the quality of data.