Introducing data management

Data management is the discipline of collecting, storing, and using data effectively and in a cost-effective manner. The key goal of data management is to put in measures to ensure that data remains viable and fit for its intended purpose and that when it has ceased to be useful, it is appropriately discarded or archived. Earlier, we established that data is a valuable resource and an asset to any company, but let's look at some of the benefits of data management.

Benefits of data management

Data is critical to businesses regardless of their size, revenue, or industry. From a small mom-and-pop donut shop that serves locally to very large businesses that serve millions of customers every day, proper data management practices, processes, and tools are essential. Of course, a small business will not need to implement a Master Data Management (MDM) solution to manage its data, but a large organization will not be able to operate efficiently without...