Data management aims to maximize the value and utility of data within an organization. It ensures that data is accurate, secure, accessible, and properly governed, empowering organizations to derive actionable insights, drive innovation, and make informed decisions based on reliable information.
Data management determines the effective handling and governance of data throughout its lifecycle by devising best practices for data lifecycle management. The absence of data management strategies can result in inaccurate data, data silos, security risks, compliance issues, inefficient processes, missed opportunities, poor governance, and increased costs. Implementing effective data management strategies helps organizations unlock the value of their data, ensure data quality and security, and drive data-driven decision-making.