What is data management?
Data management refers to the set of practices, systems or processes with which organisations efficiently control and take advantage of the data resources available to them.
This process includes everything from collection to elimination through enormously relevant issues such as security, accessibility or quality in a way that ensures efficiency and productivity in decision-making.
This data management has a series of key elements for its development, such as the storage and collection of data from various sources, integration for subsequent analytical or operational use, or quality management of the aforementioned data to ensure that it is consistent and accurate.
Likewise, other relevant issues in this area are data governance to establish responsibilities and policies that guarantee availability, quality or security.
Data security is also a very important element of data management, as it protects data from hypothetical loss or improper or unauthorised access.
Importance of data management
Data management is of enormous importance for organisations as it allows informed decision-making, improves internal operations through greater efficiency, as well as regulatory compliance that results in data handling that is in line with the respective regulations that apply in each location.
Advantages of data management
Data management offers advantages to organisations that implement it.
Let’s look at what these are and their main characteristics:
- Quality and consistency. Having accurate and consistent data is the basis on which informed decisions can be made, for which it is necessary to optimise the previous storage and processing processes.
- Efficiency and productivity. Having more optimised internal processes is possible if redundant or repetitive tasks are automated. This, together with the centralisation of data in organisations through collaboration between departments, generates greater productivity.
- Scalability. By using cloud platforms, companies can scale up their data management capacity while increasing flexibility.
- Cost reduction. By eliminating redundancy and optimising resources, the costs associated with processes such as data storage, maintenance or retrieval generate a decrease in costs. Indirectly, not having to pay fines for hypothetical breaches of legislation can also be considered a cost saving.
- Security. Data protection through robust security against possible security breaches or unauthorised access, as we mentioned at the beginning of the article, is another of the benefits associated with data management.
- Decision-making. Having accurate information thanks to the correct processing and handling of data is key to improving decision-making processes. As a result, not only can companies react to changes or make more informed strategic decisions, but they can also develop effective strategic planning with greater degrees of depth.
Transformation of data management in the business world
An example of the transformation of data management in the business world is the alliance between Telefónica Tech and Denodo.
Through data virtualisation to integrate, manage and deliver data from multiple sources in a logical way and thus help organisations make better business decisions, the Denodo Platform offers accessible and secure real-time data for all users and business applications.
The use of this platform enables simple and immediate access to the required data, in a controlled manner and without worrying about where it is hosted.
As explained in the press release announcing the agreement, it promotes secure and efficient data management by accelerating the implementation of advanced analytics and generative AI projects in organisations.
