Data management is the practice of collecting, keeping, and using data safely, efficiently and cost-effectively. The goal of data management is to help everyone and connected things optimise the use of data within the bounds of already set rules so they can make the decisions that increase the benefit to the company. A strong data management strategy is important as companies increasingly rely on abstract assets to create profit.
Managing digital data in a company involves a variety of tasks and rules. The work of data management has a wide view, covering factors such as how to:
– Create, access, and update data across a diverse data tier
– Store data across multiple clouds and on-premises
– Provide high availability and disaster recovery
– Use data in a growing variety of apps, analytics, and algorithms
– Ensure data privacy and security
– Archive and destroy data in accordance with retention schedules and compliance requirements
A formal data management strategy addresses the activity of users and managers, the capabilities of data management technologies, the demands of regulatory requirements, and the needs of the company to obtain profit from its data.
Today’s companies need a data management solution that provides an efficient way to manage data across a diverse but unified data tier. Data management systems are built on management platforms and can include something called “databases”, “data lakes” and “data warehouses”, which include big data management systems, data analytics, and more.
All these components work together as a “data utility” to deliver the data management capabilities a company needs for its applications and the analytics and algorithms that use the data originated by those apps. Although the current array of tools helps database administrators automate many of the conventional management tasks, manual mediation is still often required because of the size and difficulty of most database deployments. Whenever manual mediation is required, the chance of errors increases. Decreasing the need for manual data management is a key goal of a new data management technology, the “autonomous database”.
With data’s new role as business “wealth”, organisations are discovering what digital startups and disruptors already know: Data is a valuable asset for recognising trends, making choices, and taking action before rivals. The new position of data in the value chain is leading organisations to actively seek better ways to obtain value from this new resource.
We at The Haven specialise in assisting you with Data Management and everything to do with it!
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