According to The Economist , data is the most valuable asset in the world. In today"s digitally-driven economic environment, different businesses use data to make strategic decisions, ameliorate existing services, and create innovative products. Data management represents the process of collecting, processing, and storing information. It is the "spine" that brings together all segments of the data lifecycle. Apart from granting access to transparent and accurate information, data management also helps people and organizations make use of data at their competitive advantage.
Types of Data Management
The increasing volume of data that companies deal with makes it difficult to utilize data optimally and efficiently. For this reason, companies seek to elaborate a reliable procedure of accessing, integrating, cleansing, storing, and eventually analyzing the necessary data. Growing needs led to the emergence of specific approaches to data management, the most reliable of which include:
5 Reasons Why Data Management Matters
As data is so ubiquitous and so valuable, the demand for data management has been growing in importance in recent years. Taking charge of data has many benefits for people and organizations. Affordances include: