Data management is a method which involves the creation and implementation of processes, policies and procedures to manage data throughout its entire life cycle. It ensures that data is useful and easily accessible, facilitates regulatory compliance, and enables informed decision-making.

The importance of effective data management has grown significantly as organizations automate their business processes, leverage software-as-a-service (SaaS) applications and deploy data warehouses, among other initiatives. This leads to a plethora of data that needs to be consolidated, and then sent to business analytics (BI) systems such as enterprise resource management (ERP) platforms and Internet of Things (IoT) sensors,, machine learning, and generative artificial Intelligence (AI) tools, to provide advanced insights.

Without a clearly defined data management plan, businesses may end up with data silos that are incompatible and inconsistent data sets that hinder the ability to operate business intelligence and analytics applications. Data management issues can affect the trust of customers and employees.

To tackle these issues to meet these challenges, it’s crucial that businesses come up with a data management plan (DMP) that includes the necessary people and processes to manage all types of data. For instance the DMP can assist researchers in determining the file naming conventions they should apply to organize data sets for long-term storage and for easy access. It can also include data workflows that specify the steps to follow to cleanse, validate, and integrating raw data sets as well as refined data sets in order to ensure that they are suitable for analysis.

A DMP can be used by organizations that collect consumer data to ensure compliance with privacy laws at the global and state scale, such as the General Data Protection Regulation of the European Union or California’s Consumer Privacy Act. It can be used to guide the development and implementation of policies and procedures which address threats to data security.

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