Why Do You Need Data Management?

Posted 4 years ago in TECHNOLOGY.

The collection, retention and usage of data efficiently are what we call data management.

Why Do You Need Data Management?

The collection, retention, and usage of data efficiently are what we call data management. The management of data within organizations requires a host of tasks. All of this is done in a cost-effective manner. The main aim of data management is to help organizations, people and other connected things optimize their data usage in the organization so that they can make decisions and perform actions that bring the highest level of benefit to the organization. As organizations rely more heavily on data and information, having an efficient data management system is becoming more important. 

So, what kind of work goes into managing data in an organization?

Digital data management comprises a wide range of practices, policies, and tasks. Some of the main practices that are covered include the following. 

  • Accessing, creating, and updating data across a diverse tier of data
  • Storage of data across different clouds and within the organization premises
  • Providing disaster recovery and high availability of data
  • Data is used for growing new applications, analytics, and algorithms
  • Ensuring the privacy and security of data
  • In accordance with retention and compliance requirements, data is archived and destroyed

A data management company can address all the activities of administration and users, data management technology capabilities, regulatory requirements, and the kind of value that an organization obtains from its data. 

Some of the topics included in the field of data management are data security, data destruction, master data management, record management, data quality management, data architecture just to name a few. 

 

Here are some of the main reasons why data management is vital for any organization today.

  • The most valuable resource for any organization is the data. The last thing that any organization wants to do is spend valuable time and money on the collection of data only to later lose or misplace this data. An effective data management system ensures that this does not happen. 
  • A large amount of data is often difficult to manage manually. As organizations become more subject to compliance requirements, effective data management has become more important due to the increase in data storage capacity and the large amount of data being generated by organizations. This rate of growth is not expected to slow down. These large amounts of data are known as big data. 
  • Losing data could equate to disaster for any organization. Most companies that have lost their data have filed for bankruptcy within a year of the disaster. This is another reason why data management is crucial for the success of any organization.
  • Good data management improves productivity in any organization. Employees have a much easier time finding and understanding the data.
  • Data management helps an organization avoid unnecessary expenditure such as when data needs to be duplicated. Since the data is easily accessible by all the employees, the employees do not need to conduct the same research again.
  • Good data management also ensures that the data in an organization is secure and never in the wrong hands. It protects the data from security threats and thefts. 
  • When all of the data is available in one place, there is no risk of losing the data. Data management also ensures that all the data is backed up in case the original data is lost.

These are just some of the reasons why you should consult a data management company to perform these services.

Vikas Sudan

Living in India

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