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5 Importance of Data Management: A Deep Dive into its Historical Context and Current Relevance
Author: Dr. Evelyn Reed, PhD in Information Systems Management, Certified Data Management Professional (CDMP), with 15 years of experience in data management consulting for Fortune 500 companies.
Keywords: 5 importance of data management, data management benefits, data governance, data quality, data security, data analysis, big data, data strategy.
Publisher: Data Management Insights, a leading online publication specializing in data management best practices, technologies, and industry trends. Data Management Insights is widely respected for its rigorous editorial process and its team of experienced data management professionals.
Editor: Mr. David Chen, MSc in Computer Science with 20 years of experience in software development and data management. His expertise ensures the technical accuracy and clarity of the content.
Introduction:
The importance of data management is undeniable in today's data-driven world. Businesses, governments, and individuals alike rely heavily on data for decision-making, innovation, and operational efficiency. However, effectively managing this vast and ever-growing volume of data requires a structured and strategic approach. This article explores the 5 importance of data management, delving into their historical context and demonstrating their continued, and increasing, relevance in the 21st century. We will examine how effective data management practices have evolved alongside technological advancements and the growing awareness of data's strategic value.
1. Improved Decision-Making: The Foundation of Data-Driven Strategies
The first and perhaps most significant of the 5 importance of data management is its contribution to improved decision-making. Historically, decisions were often based on intuition, gut feeling, or limited available data. The rise of computing power and the subsequent data explosion have fundamentally changed this landscape. Effective data management systems enable organizations to collect, clean, and analyze vast quantities of data, revealing patterns, trends, and insights that would otherwise remain hidden. This data-driven approach leads to more informed, strategic, and ultimately more successful decisions across all aspects of an organization. From marketing campaigns to product development, supply chain optimization to risk management, data-driven insights provide a competitive edge. This ability to leverage data for informed decisions is a core tenet of the 5 importance of data management. The historical shift from instinct-based to data-backed decisions is a testament to its power.
2. Enhanced Operational Efficiency: Streamlining Processes and Reducing Costs
The second crucial aspect of the 5 importance of data management is its role in enhancing operational efficiency. Poor data management leads to duplicated efforts, inconsistencies, and delays. Conversely, well-managed data streamlines processes, reduces errors, and improves overall efficiency. Consider, for instance, a supply chain management system. Effective data management ensures accurate inventory tracking, timely delivery, and minimized waste. Similarly, in customer relationship management (CRM), clean and accessible data enables personalized customer service, targeted marketing, and increased customer retention. Historically, these processes were often manual and error-prone, but effective data management automates tasks, eliminates redundancies, and ultimately reduces operational costs. This efficiency boost is a key component of the 5 importance of data management.
3. Increased Data Security and Compliance: Protecting Sensitive Information
The third cornerstone within the 5 importance of data management is the critical role it plays in data security and compliance. In today's digital landscape, data breaches and security vulnerabilities pose significant risks to organizations. Effective data management practices, including robust access controls, encryption, and data loss prevention (DLP) measures, are crucial for safeguarding sensitive information. Compliance with various regulations, such as GDPR and CCPA, requires meticulous data management to ensure data privacy and protect individuals’ rights. Historically, data security was a less pressing concern, but with the increasing sophistication of cyber threats and the stringent regulatory environment, data security and compliance have become paramount. This highlights the growing significance of data security within the 5 importance of data management.
4. Improved Data Quality: The Foundation of Reliable Insights
The fourth of the 5 importance of data management focuses on the critical aspect of data quality. Inaccurate, incomplete, or inconsistent data can lead to flawed analyses, incorrect decisions, and ultimately, failed business strategies. Effective data management employs various techniques, such as data cleansing, validation, and standardization, to ensure data accuracy and reliability. Historically, data quality was often overlooked, but with the increasing reliance on data-driven decisions, ensuring high-quality data has become essential. The value of accurate, consistent, and reliable data underpins the entire data management ecosystem and is crucial amongst the 5 importance of data management.
5. Enhanced Business Agility and Innovation: Adapting to Changing Market Conditions
The final and arguably most dynamic of the 5 importance of data management is its contribution to business agility and innovation. In today's rapidly evolving business environment, organizations need to be able to adapt quickly to changing market conditions and customer demands. Effective data management enables organizations to gain a better understanding of their customers, identify new market opportunities, and develop innovative products and services. This ability to leverage data for strategic decision-making and adaptation is a crucial differentiator in today’s competitive market. Historically, businesses relied on slower, less agile methods, but today’s data-driven environment requires rapid response times and adaptability. This ability to respond swiftly is directly linked to the 5 importance of data management.
Summary:
This analysis has explored the 5 importance of data management: improved decision-making, enhanced operational efficiency, increased data security and compliance, improved data quality, and enhanced business agility and innovation. Each aspect is critical to organizational success in today's data-driven world, and their combined impact is transformative. The historical context demonstrates a clear evolution from reliance on intuition to a data-centric approach, highlighting the increasing importance of effective data management strategies.
Conclusion:
Effective data management is no longer a luxury; it's a necessity for organizations of all sizes and across all industries. The 5 importance of data management detailed above highlight its far-reaching impact, from strategic decision-making to operational efficiency and innovation. As data continues to grow exponentially, the importance of robust data management strategies will only increase. Investing in the right infrastructure, processes, and personnel is crucial for organizations seeking to harness the full potential of their data. Failure to do so risks falling behind competitors and missing out on critical opportunities.
FAQs:
1. What are the key challenges in data management? Key challenges include data volume, velocity, variety, and veracity (the four Vs of big data), data silos, data quality issues, and security threats.
2. What are some common data management tools and technologies? Examples include data warehouses, data lakes, ETL tools, data visualization platforms, and data governance platforms.
3. How can organizations improve their data management practices? Organizations can improve their practices by implementing data governance frameworks, investing in data quality initiatives, adopting data security best practices, and training employees on data management principles.
4. What is the role of data governance in data management? Data governance provides a framework for managing data as a corporate asset, ensuring data quality, security, and compliance.
5. How does data management support compliance with data privacy regulations? Effective data management helps organizations meet regulatory requirements by ensuring data security, providing data subject access rights, and facilitating data breach response.
6. What is the difference between data management and data warehousing? Data management encompasses the overall strategy and processes for handling data, while data warehousing is a specific technology for storing and accessing large volumes of data for analytical purposes.
7. How can data management improve customer experience? Data management enables personalized customer interactions, targeted marketing, and improved customer service.
8. What are the benefits of cloud-based data management solutions? Cloud-based solutions offer scalability, cost-effectiveness, accessibility, and improved disaster recovery capabilities.
9. How can small businesses effectively manage their data? Small businesses can adopt simplified data management strategies, leverage cloud-based solutions, and focus on key data quality and security aspects.
Related Articles:
1. Data Governance Best Practices: A detailed guide to establishing and implementing a robust data governance framework.
2. Mastering Data Quality: Exploring techniques for ensuring data accuracy, completeness, and consistency.
3. Data Security and Compliance: A Practical Guide: Covering key regulations and best practices for protecting sensitive data.
4. Building a Successful Data Warehouse: A comprehensive guide to designing, implementing, and managing a data warehouse.
5. Data Analytics for Business Decision-Making: Exploring how data analytics can improve business decisions.
6. The Power of Data Visualization: Demonstrating how effective data visualization can enhance insights.
7. Cloud-Based Data Management Solutions: An overview of various cloud-based data management platforms and their benefits.
8. Big Data Analytics and its Impact on Businesses: Exploring the opportunities and challenges presented by big data.
9. Data Management for Small and Medium-Sized Enterprises (SMEs): Providing practical data management strategies for smaller organizations.
| 5 importance of data management: Going to Extremes National Research Council, Division on Engineering and Physical Sciences, National Materials Advisory Board, Committee on Durability and Life Prediction of Polymer Matrix Composites in Extreme Environments, 2005-10-22 Advanced polymer matrix composites (PMC) have many advantages such as light weight and high specific strength that make them useful for many aerospace applications. Enormous uncertainty exists, however, in predicting long-term changes in properties of PMCs under extreme environmental conditions, which has limited their use. To help address this issue, the Department of Defense requested a study from the NRC to identify the barriers and limitations to the use of PMCs in extreme environments. The study was to focus on issues surrounding methodologies for predicting long-term performance. This report provides a review of the challenges facing application of PMCs in extreme environments, the current understanding of PMC properties and behavior, an analysis of the importance of data in developing effective models, and recommendations for improving long-term predictive methodologies. |
| 5 importance of data management: Monetizing Data Management Peter Aiken, Juanita Billings, 2013-10 What’s the Return on Investment (ROI) on data management? Sound like an impossible question to answer? Not if you read this book and learn the value-added approach to managing enterprise resources and assets. This book defines the five interrelated best practices that comprise data management, and shows you how by example to successfully communicate data management ROI to senior management. The 17 cases we share will help you to identify opportunities to introduce data management into the strategic conversations that occur in the C-suite. You will gain a new perspective regarding the stewardship of your data assets and insulate your operations from the chaos, losses and risks that result from traditional approaches to technological projects. And you will learn how to protect yourself from legal challenges resulting from outsourced information technology projects gone badly due to incorrect project sequencing and focus. With the emerging acceptance and adoption of revised performance standards, your organization will be better prepared to face the coming big data deluge! The book contains four chapters: • Chapter 1 gives a somewhat unique perspective to the practice of leveraging data. We describe the motivations and delineate the specific challenges preventing most organizations from making substantial progress in this area. • Chapter 2 presents 11 cases where leveraging data has produced positive financial results that can be presented in language of immediate interest to C-level executives. To the degree possible, we have quantified the effect that data management has had in terms that will be meaningful to them also. • Chapter 3 describes five instances taken from the authors' experiences with various governmental defense departments. The lessons in this section however can be equally applied to many non-profit and non-defense governmental organizations. • Chapter 4 speaks specifically to the interaction of data management practices, in terms of both information technology projects and legal responsibilities. Reading it can help your organization avoid a number of perils, stay out of court and better vet contractors, experts and other helpers who play a role in organization information technology development. From John Bottega Foreword: Data is the new currency. Yes, an expression that is being used quite a bit of late, but it is very relevant in discussing the importance of data and the methodologies by which we manage it. And like any currency, how we manage it determines its true value. Like any currency, it can be managed wisely, or it can be managed foolishly. It can be put to good use, or it can be squandered away. The question is – what factors determine the path that we take? How do we properly manage this asset and realize its full value and potential? In Monetizing Data Management, Peter and Juanita explore the question of how to understand and place tangible value on data and data management. They explore this question through a series of examples and real-world use cases to exemplify how the true value of data can be realized. They show how bringing together business and technology, and applying a data-centric forensic approach can turn massive amounts of data into the tools needed to improve business processes, reduce costs, and better serve the customer. Data monetization is not about turning data into money. Instead, it’s about taking information and turning it into opportunity. It’s about the need to understand the real meaning of data in order to extract value from it. And it’s about achieving this objective through a partnership with business and technology. In Monetizing Data Management, the authors demonstrate how true value can be realized from our data through improved data centric approaches. |
| 5 importance of data management: Data Management for Researchers Kristin Briney, 2015-09-01 A comprehensive guide to everything scientists need to know about data management, this book is essential for researchers who need to learn how to organize, document and take care of their own data. Researchers in all disciplines are faced with the challenge of managing the growing amounts of digital data that are the foundation of their research. Kristin Briney offers practical advice and clearly explains policies and principles, in an accessible and in-depth text that will allow researchers to understand and achieve the goal of better research data management. Data Management for Researchers includes sections on: * The data problem – an introduction to the growing importance and challenges of using digital data in research. Covers both the inherent problems with managing digital information, as well as how the research landscape is changing to give more value to research datasets and code. * The data lifecycle – a framework for data’s place within the research process and how data’s role is changing. Greater emphasis on data sharing and data reuse will not only change the way we conduct research but also how we manage research data. * Planning for data management – covers the many aspects of data management and how to put them together in a data management plan. This section also includes sample data management plans. * Documenting your data – an often overlooked part of the data management process, but one that is critical to good management; data without documentation are frequently unusable. * Organizing your data – explains how to keep your data in order using organizational systems and file naming conventions. This section also covers using a database to organize and analyze content. * Improving data analysis – covers managing information through the analysis process. This section starts by comparing the management of raw and analyzed data and then describes ways to make analysis easier, such as spreadsheet best practices. It also examines practices for research code, including version control systems. * Managing secure and private data – many researchers are dealing with data that require extra security. This section outlines what data falls into this category and some of the policies that apply, before addressing the best practices for keeping data secure. * Short-term storage – deals with the practical matters of storage and backup and covers the many options available. This section also goes through the best practices to insure that data are not lost. * Preserving and archiving your data – digital data can have a long life if properly cared for. This section covers managing data in the long term including choosing good file formats and media, as well as determining who will manage the data after the end of the project. * Sharing/publishing your data – addresses how to make data sharing across research groups easier, as well as how and why to publicly share data. This section covers intellectual property and licenses for datasets, before ending with the altmetrics that measure the impact of publicly shared data. * Reusing data – as more data are shared, it becomes possible to use outside data in your research. This chapter discusses strategies for finding datasets and lays out how to cite data once you have found it. This book is designed for active scientific researchers but it is useful for anyone who wants to get more from their data: academics, educators, professionals or anyone who teaches data management, sharing and preservation. An excellent practical treatise on the art and practice of data management, this book is essential to any researcher, regardless of subject or discipline. —Robert Buntrock, Chemical Information Bulletin |
| 5 importance of data management: Data Governance and Data Management Rupa Mahanti, 2021-09-08 This book delves into the concept of data as a critical enterprise asset needed for informed decision making, compliance, regulatory reporting and insights into trends, behaviors, performance and patterns. With good data being key to staying ahead in a competitive market, enterprises capture and store exponential volumes of data. Considering the business impact of data, there needs to be adequate management around it to derive the best value. Data governance is one of the core data management related functions. However, it is often overlooked, misunderstood or confused with other terminologies and data management functions. Given the pervasiveness of data and the importance of data, this book provides comprehensive understanding of the business drivers for data governance and benefits of data governance, the interactions of data governance function with other data management functions and various components and aspects of data governance that can be facilitated by technology and tools, the distinction between data management tools and data governance tools, the readiness checks to perform before exploring the market to purchase a data governance tool, the different aspects that must be considered when comparing and selecting the appropriate data governance technologies and tools from large number of options available in the marketplace and the different market players that provide tools for supporting data governance. This book combines the data and data governance knowledge that the author has gained over years of working in different industrial and research programs and projects associated with data, processes and technologies with unique perspectives gained through interviews with thought leaders and data experts. This book is highly beneficial for IT students, academicians, information management and business professionals and researchers to enhance their knowledge and get guidance on implementing data governance in their own data initiatives. |
| 5 importance of data management: DAMA-DMBOK Dama International, 2017 Defining a set of guiding principles for data management and describing how these principles can be applied within data management functional areas; Providing a functional framework for the implementation of enterprise data management practices; including widely adopted practices, methods and techniques, functions, roles, deliverables and metrics; Establishing a common vocabulary for data management concepts and serving as the basis for best practices for data management professionals. DAMA-DMBOK2 provides data management and IT professionals, executives, knowledge workers, educators, and researchers with a framework to manage their data and mature their information infrastructure, based on these principles: Data is an asset with unique properties; The value of data can be and should be expressed in economic terms; Managing data means managing the quality of data; It takes metadata to manage data; It takes planning to manage data; Data management is cross-functional and requires a range of skills and expertise; Data management requires an enterprise perspective; Data management must account for a range of perspectives; Data management is data lifecycle management; Different types of data have different lifecycle requirements; Managing data includes managing risks associated with data; Data management requirements must drive information technology decisions; Effective data management requires leadership commitment. |
| 5 importance of data management: Data Management: a gentle introduction Bas van Gils, 2020-03-03 The overall objective of this book is to show that data management is an exciting and valuable capability that is worth time and effort. More specifically it aims to achieve the following goals: 1. To give a “gentle” introduction to the field of DM by explaining and illustrating its core concepts, based on a mix of theory, practical frameworks such as TOGAF, ArchiMate, and DMBOK, as well as results from real-world assignments. 2. To offer guidance on how to build an effective DM capability in an organization.This is illustrated by various use cases, linked to the previously mentioned theoretical exploration as well as the stories of practitioners in the field. The primary target groups are: busy professionals who “are actively involved with managing data”. The book is also aimed at (Bachelor’s/ Master’s) students with an interest in data management. The book is industry-agnostic and should be applicable in different industries such as government, finance, telecommunications etc. Typical roles for which this book is intended: data governance office/ council, data owners, data stewards, people involved with data governance (data governance board), enterprise architects, data architects, process managers, business analysts and IT analysts. The book is divided into three main parts: theory, practice, and closing remarks. Furthermore, the chapters are as short and to the point as possible and also make a clear distinction between the main text and the examples. If the reader is already familiar with the topic of a chapter, he/she can easily skip it and move on to the next. |
| 5 importance of data management: Data Management at Scale Piethein Strengholt, 2020-07-29 As data management and integration continue to evolve rapidly, storing all your data in one place, such as a data warehouse, is no longer scalable. In the very near future, data will need to be distributed and available for several technological solutions. With this practical book, you’ll learnhow to migrate your enterprise from a complex and tightly coupled data landscape to a more flexible architecture ready for the modern world of data consumption. Executives, data architects, analytics teams, and compliance and governance staff will learn how to build a modern scalable data landscape using the Scaled Architecture, which you can introduce incrementally without a large upfront investment. Author Piethein Strengholt provides blueprints, principles, observations, best practices, and patterns to get you up to speed. Examine data management trends, including technological developments, regulatory requirements, and privacy concerns Go deep into the Scaled Architecture and learn how the pieces fit together Explore data governance and data security, master data management, self-service data marketplaces, and the importance of metadata |
| 5 importance of data management: Exploring Research Data Management Andrew Cox, Eddy Verbaan, 2018-05-11 Research Data Management (RDM) has become a professional topic of great importance internationally following changes in scholarship and government policies about the sharing of research data. Exploring Research Data Management provides an accessible introduction and guide to RDM with engaging tasks for the reader to follow and develop their knowledge. Starting by exploring the world of research and the importance and complexity of data in the research process, the book considers how a multi-professional support service can be created then examines the decisions that need to be made in designing different types of research data service from local policy creation, training, through to creating a data repository. Coverage includes: A discussion of the drivers and barriers to RDM Institutional policy and making the case for Research Data Services Practical data management Data literacy and training researchers Ethics and research data services Case studies and practical advice from working in a Research Data Service. This book will be useful reading for librarians and other support professionals who are interested in learning more about RDM and developing Research Data Services in their own institution. It will also be of value to students on librarianship, archives, and information management courses studying topics such as RDM, digital curation, data literacies and open science. |
| 5 importance of data management: Quality Management and Accreditation in Hematopoietic Stem Cell Transplantation and Cellular Therapy Mahmoud Aljurf, John A. Snowden, Patrick Hayden, Kim H. Orchard, Eoin McGrath, 2021-02-19 This open access book provides a concise yet comprehensive overview on how to build a quality management program for hematopoietic stem cell transplantation (HSCT) and cellular therapy. The text reviews all the essential steps and elements necessary for establishing a quality management program and achieving accreditation in HSCT and cellular therapy. Specific areas of focus include document development and implementation, audits and validation, performance measurement, writing a quality management plan, the accreditation process, data management, and maintaining a quality management program. Written by experts in the field, Quality Management and Accreditation in Hematopoietic Stem Cell Transplantation and Cellular Therapy: A Practical Guide is a valuable resource for physicians, healthcare professionals, and laboratory staff involved in the creation and maintenance of a state-of-the-art HSCT and cellular therapy program. |
| 5 importance of data management: Data Driven Thomas C. Redman, 2008-09-22 Your company's data has the potential to add enormous value to every facet of the organization -- from marketing and new product development to strategy to financial management. Yet if your company is like most, it's not using its data to create strategic advantage. Data sits around unused -- or incorrect data fouls up operations and decision making. In Data Driven, Thomas Redman, the Data Doc, shows how to leverage and deploy data to sharpen your company's competitive edge and enhance its profitability. The author reveals: · The special properties that make data such a powerful asset · The hidden costs of flawed, outdated, or otherwise poor-quality data · How to improve data quality for competitive advantage · Strategies for exploiting your data to make better business decisions · The many ways to bring data to market · Ideas for dealing with political struggles over data and concerns about privacy rights Your company's data is a key business asset, and you need to manage it aggressively and professionally. Whether you're a top executive, an aspiring leader, or a product-line manager, this eye-opening book provides the tools and thinking you need to do that. |
| 5 importance of data management: In-Memory Data Management Hasso Plattner, Alexander Zeier, 2012-04-17 In the last fifty years the world has been completely transformed through the use of IT. We have now reached a new inflection point. This book presents, for the first time, how in-memory data management is changing the way businesses are run. Today, enterprise data is split into separate databases for performance reasons. Multi-core CPUs, large main memories, cloud computing and powerful mobile devices are serving as the foundation for the transition of enterprises away from this restrictive model. This book provides the technical foundation for processing combined transactional and analytical operations in the same database. In the year since we published the first edition of this book, the performance gains enabled by the use of in-memory technology in enterprise applications has truly marked an inflection point in the market. The new content in this second edition focuses on the development of these in-memory enterprise applications, showing how they leverage the capabilities of in-memory technology. The book is intended for university students, IT-professionals and IT-managers, but also for senior management who wish to create new business processes. |
| 5 importance of data management: Data Management and Data Description Richard Williams, 2019-01-15 Published in 1992. The author sets out the main issues in Data Management, from the first principles of meta modelling and data description through the comprehensive management exploitation, re-use, valuation, extension and enhancement of data as a valuable organizational resource. Using his recent in-depth experience of a major trans-European project, he highlights data value metrics and provides examples of extended data analysis to assist readers to produce corporate data architectures. The book considers how the techniques of data management can be applied in the wider community of business, institutional and organizational settings and considers how new types of data (from the EDIFACT world) can be integrated into the existing data management environments of large data processing functions. This wide-ranging text considers existing work in the field of data resource management and extends the concepts of data resource valuation. References are made to new aspects of metrics for data value and how they can be applied. It will interest strategic business planners, information systems, and DP managers and executives, data-management personnel and data analysts, and academics involved in MSc and BSc courses on Dara Analysis, CASE repositories and structured methods. |
| 5 importance of data management: In-Memory Data Management Hasso Plattner, Alexander Zeier, 2011-03-08 In the last 50 years the world has been completely transformed through the use of IT. We have now reached a new inflection point. Here we present, for the first time, how in-memory computing is changing the way businesses are run. Today, enterprise data is split into separate databases for performance reasons. Analytical data resides in warehouses, synchronized periodically with transactional systems. This separation makes flexible, real-time reporting on current data impossible. Multi-core CPUs, large main memories, cloud computing and powerful mobile devices are serving as the foundation for the transition of enterprises away from this restrictive model. We describe techniques that allow analytical and transactional processing at the speed of thought and enable new ways of doing business. The book is intended for university students, IT-professionals and IT-managers, but also for senior management who wish to create new business processes by leveraging in-memory computing. |
| 5 importance of data management: Enterprise Master Data Management Allen Dreibelbis, Eberhard Hechler, Ivan Milman, Martin Oberhofer, Paul van Run, Dan Wolfson, 2008-06-05 The Only Complete Technical Primer for MDM Planners, Architects, and Implementers Companies moving toward flexible SOA architectures often face difficult information management and integration challenges. The master data they rely on is often stored and managed in ways that are redundant, inconsistent, inaccessible, non-standardized, and poorly governed. Using Master Data Management (MDM), organizations can regain control of their master data, improve corresponding business processes, and maximize its value in SOA environments. Enterprise Master Data Management provides an authoritative, vendor-independent MDM technical reference for practitioners: architects, technical analysts, consultants, solution designers, and senior IT decisionmakers. Written by the IBM ® data management innovators who are pioneering MDM, this book systematically introduces MDM’s key concepts and technical themes, explains its business case, and illuminates how it interrelates with and enables SOA. Drawing on their experience with cutting-edge projects, the authors introduce MDM patterns, blueprints, solutions, and best practices published nowhere else—everything you need to establish a consistent, manageable set of master data, and use it for competitive advantage. Coverage includes How MDM and SOA complement each other Using the MDM Reference Architecture to position and design MDM solutions within an enterprise Assessing the value and risks to master data and applying the right security controls Using PIM-MDM and CDI-MDM Solution Blueprints to address industry-specific information management challenges Explaining MDM patterns as enablers to accelerate consistent MDM deployments Incorporating MDM solutions into existing IT landscapes via MDM Integration Blueprints Leveraging master data as an enterprise asset—bringing people, processes, and technology together with MDM and data governance Best practices in MDM deployment, including data warehouse and SAP integration |
| 5 importance of data management: Business Intelligence Techniques Murugan Anandarajan, Asokan Anandarajan, Cadambi A. Srinivasan, 2012-11-02 Modern businesses generate huge volumes of accounting data on a daily basis. The recent advancements in information technology have given organizations the ability to capture and store data in an efficient and effective manner. However, there is a widening gap between this data storage and usage of the data. Business intelligence techniques can help an organization obtain and process relevant accounting data quickly and cost efficiently. Such techniques include: query and reporting tools, online analytical processing (OLAP), statistical analysis, text mining, data mining, and visualization. Business Intelligence Techniques is a compilation of chapters written by experts in the various areas. While these chapters stand on their own, taken together they provide a comprehensive overview of how to exploit accounting data in the business environment. |
| 5 importance of data management: Navigating the Labyrinth Laura Sebastian-Coleman, An Executive Guide to Data Management |
| 5 importance of data management: Data Management and Governance Services Tejasvi Addagada, 2017-06-22 Organizations across industries are embracing data management and governance practices, primarily driven by regulation and service excellence. While it is equally important to set up a data office, it is also crucial to ensure sustainability of the function. Also, data governance is a pervasive enabler that supports a firm's corporate governance principles. The book highlights how an Enterprise can: -Overcome challenges in data offices today -Analyze existing data management strategy and capabilities to traverse maturity -Set up metadata and data quality management as services and successfully operationalize them -Formalize governance as a function through an operating model, based on its enabling culture -Define a benefits realization model to assess and monitor the value of managing and governing data |
| 5 importance of data management: Data Management Margaret E. Henderson, 2016-10-25 Libraries organize information and data is information, so it is natural that librarians should help people who need to find, organize, use, or store data. Organizations need evidence for decision making; data provides that evidence. Inventors and creators build upon data collected by others. All around us, people need data. Librarians can help increase the relevance of their library to the research and education mission of their institution by learning more about data and how to manage it. Data Management will guide readers through: Understanding data management basics and best practices. Using the reference interview to help with data management Writing data management plans for grants. Starting and growing a data management service. Finding collaborators inside and outside the library. Collecting and using data in different disciplines. |
| 5 importance of data management: Security, Privacy, and Trust in Modern Data Management Milan Petkovic, Willem Jonker, 2007-06-12 The vision of ubiquitous computing and ambient intelligence describes a world of technology which is present anywhere, anytime in the form of smart, sensible devices that communicate with each other and provide personalized services. However, open interconnected systems are much more vulnerable to attacks and unauthorized data access. In the context of this threat, this book provides a comprehensive guide to security and privacy and trust in data management. |
| 5 importance of data management: Research Data Management Joyce M. Ray, 2014 It has become increasingly accepted that important digital data must be retained and shared in order to preserve and promote knowledge, advance research in and across all disciplines of scholarly endeavor, and maximize the return on investment of public funds. To meet this challenge, colleges and universities are adding data services to existing infrastructures by drawing on the expertise of information professionals who are already involved in the acquisition, management and preservation of data in their daily jobs. Data services include planning and implementing good data management practices, thereby increasing researchers' ability to compete for grant funding and ensuring that data collections with continuing value are preserved for reuse. This volume provides a framework to guide information professionals in academic libraries, presses, and data centers through the process of managing research data from the planning stages through the life of a grant project and beyond. It illustrates principles of good practice with use-case examples and illuminates promising data service models through case studies of innovative, successful projects and collaborations. |
| 5 importance of data management: Highlighting the Importance of Big Data Management and Analysis for Various Applications Mohammad Moshirpour, Behrouz Far, Reda Alhajj, 2017-08-22 This book addresses the impacts of various types of services such as infrastructure, platforms, software, and business processes that cloud computing and Big Data have introduced into business. Featuring chapters which discuss effective and efficient approaches in dealing with the inherent complexity and increasing demands in data science, a variety of application domains are covered. Various case studies by data management and analysis experts are presented in these chapters. Covered applications include banking, social networks, bioinformatics, healthcare, transportation and criminology. Highlighting the Importance of Big Data Management and Analysis for Various Applications will provide the reader with an understanding of how data management and analysis are adapted to these applications. This book will appeal to researchers and professionals in the field. |
| 5 importance of data management: Stream Data Management Nauman Chaudhry, Kevin Shaw, 2005-04-14 Researchers in data management have recently recognized the importance of a new class of data-intensive applications that requires managing data streams, i.e., data composed of continuous, real-time sequence of items. Streaming applications pose new and interesting challenges for data management systems. Such application domains require queries to be evaluated continuously as opposed to the one time evaluation of a query for traditional applications. Streaming data sets grow continuously and queries must be evaluated on such unbounded data sets. These, as well as other challenges, require a major rethink of almost all aspects of traditional database management systems to support streaming applications. Stream Data Management comprises eight invited chapters by researchers active in stream data management. The collected chapters provide exposition of algorithms, languages, as well as systems proposed and implemented for managing streaming data. Stream Data Management is designed to appeal to researchers or practitioners already involved in stream data management, as well as to those starting out in this area. This book is also suitable for graduate students in computer science interested in learning about stream data management. |
| 5 importance of data management: Infonomics Douglas B. Laney, 2017-09-05 Many senior executives talk about information as one of their most important assets, but few behave as if it is. They report to the board on the health of their workforce, their financials, their customers, and their partnerships, but rarely the health of their information assets. Corporations typically exhibit greater discipline in tracking and accounting for their office furniture than their data. Infonomics is the theory, study, and discipline of asserting economic significance to information. It strives to apply both economic and asset management principles and practices to the valuation, handling, and deployment of information assets. This book specifically shows: CEOs and business leaders how to more fully wield information as a corporate asset CIOs how to improve the flow and accessibility of information CFOs how to help their organizations measure the actual and latent value in their information assets. More directly, this book is for the burgeoning force of chief data officers (CDOs) and other information and analytics leaders in their valiant struggle to help their organizations become more infosavvy. Author Douglas Laney has spent years researching and developing Infonomics and advising organizations on the infinite opportunities to monetize, manage, and measure information. This book delivers a set of new ideas, frameworks, evidence, and even approaches adapted from other disciplines on how to administer, wield, and understand the value of information. Infonomics can help organizations not only to better develop, sell, and market their offerings, but to transform their organizations altogether. Doug Laney masterfully weaves together a collection of great examples with a solid framework to guide readers on how to gain competitive advantage through what he labels the unruly asset – data. The framework is comprehensive, the advice practical and the success stories global and across industries and applications. Liz Rowe, Chief Data Officer, State of New Jersey A must read for anybody who wants to survive in a data centric world. Shaun Adams, Head of Data Science, Betterbathrooms.com Phenomenal! An absolute must read for data practitioners, business leaders and technology strategists. Doug's lucid style has a set a new standard in providing intelligible material in the field of information economics. His passion and knowledge on the subject exudes thru his literature and inspires individuals like me. Ruchi Rajasekhar, Principal Data Architect, MISO Energy I highly recommend Infonomics to all aspiring analytics leaders. Doug Laney’s work gives readers a deeper understanding of how and why information should be monetized and managed as an enterprise asset. Laney’s assertion that accounting should recognize information as a capital asset is quite convincing and one I agree with. Infonomics enjoyably echoes that sentiment! Matt Green, independent business analytics consultant, Atlanta area If you care about the digital economy, and you should, read this book. Tanya Shuckhart, Analyst Relations Lead, IRI Worldwide |
| 5 importance of data management: Data Governance: The Definitive Guide Evren Eryurek, Uri Gilad, Valliappa Lakshmanan, Anita Kibunguchy-Grant, Jessi Ashdown, 2021-03-08 As your company moves data to the cloud, you need to consider a comprehensive approach to data governance, along with well-defined and agreed-upon policies to ensure you meet compliance. Data governance incorporates the ways that people, processes, and technology work together to support business efficiency. With this practical guide, chief information, data, and security officers will learn how to effectively implement and scale data governance throughout their organizations. You'll explore how to create a strategy and tooling to support the democratization of data and governance principles. Through good data governance, you can inspire customer trust, enable your organization to extract more value from data, and generate more-competitive offerings and improvements in customer experience. This book shows you how. Enable auditable legal and regulatory compliance with defined and agreed-upon data policies Employ better risk management Establish control and maintain visibility into your company's data assets, providing a competitive advantage Drive top-line revenue and cost savings when developing new products and services Implement your organization's people, processes, and tools to operationalize data trustworthiness. |
| 5 importance of data management: Big Data Management Peter Ghavami, 2020-11-09 Data analytics is core to business and decision making. The rapid increase in data volume, velocity and variety offers both opportunities and challenges. While open source solutions to store big data, like Hadoop, offer platforms for exploring value and insight from big data, they were not originally developed with data security and governance in mind. Big Data Management discusses numerous policies, strategies and recipes for managing big data. It addresses data security, privacy, controls and life cycle management offering modern principles and open source architectures for successful governance of big data. The author has collected best practices from the world’s leading organizations that have successfully implemented big data platforms. The topics discussed cover the entire data management life cycle, data quality, data stewardship, regulatory considerations, data council, architectural and operational models are presented for successful management of big data. The book is a must-read for data scientists, data engineers and corporate leaders who are implementing big data platforms in their organizations. |
| 5 importance of data management: Design Patterns for Cloud Native Applications Kasun Indrasiri, Sriskandarajah Suhothayan, 2021-05-17 With the immense cost savings and scalability the cloud provides, the rationale for building cloud native applications is no longer in question. The real issue is how. With this practical guide, developers will learn about the most commonly used design patterns for building cloud native applications using APIs, data, events, and streams in both greenfield and brownfield development. You'll learn how to incrementally design, develop, and deploy large and effective cloud native applications that you can manage and maintain at scale with minimal cost, time, and effort. Authors Kasun Indrasiri and Sriskandarajah Suhothayan highlight use cases that effectively demonstrate the challenges you might encounter at each step. Learn the fundamentals of cloud native applications Explore key cloud native communication, connectivity, and composition patterns Learn decentralized data management techniques Use event-driven architecture to build distributed and scalable cloud native applications Explore the most commonly used patterns for API management and consumption Examine some of the tools and technologies you'll need for building cloud native systems |
| 5 importance of data management: Building the Data Lakehouse Bill Inmon, Ranjeet Srivastava, Mary Levins, 2021-10 The data lakehouse is the next generation of the data warehouse and data lake, designed to meet today's complex and ever-changing analytics, machine learning, and data science requirements. Learn about the features and architecture of the data lakehouse, along with its powerful analytical infrastructure. Appreciate how the universal common connector blends structured, textual, analog, and IoT data. Maintain the lakehouse for future generations through Data Lakehouse Housekeeping and Data Future-proofing. Know how to incorporate the lakehouse into an existing data governance strategy. Incorporate data catalogs, data lineage tools, and open source software into your architecture to ensure your data scientists, analysts, and end users live happily ever after. |
| 5 importance of data management: Data Management and Analysis Reda Alhajj, Mohammad Moshirpour, Behrouz Far, 2019-12-20 Data management and analysis is one of the fastest growing and most challenging areas of research and development in both academia and industry. Numerous types of applications and services have been studied and re-examined in this field resulting in this edited volume which includes chapters on effective approaches for dealing with the inherent complexity within data management and analysis. This edited volume contains practical case studies, and will appeal to students, researchers and professionals working in data management and analysis in the business, education, healthcare, and bioinformatics areas. |
| 5 importance of data management: Data Stewardship David Plotkin, 2013-09-16 Data stewards in business and IT are the backbone of a successful data governance implementation because they do the work to make a company's data trusted, dependable, and high quality. Data Stewardship explains everything you need to know to successfully implement the stewardship portion of data governance, including how to organize, train, and work with data stewards, get high-quality business definitions and other metadata, and perform the day-to-day tasks using a minimum of the steward's time and effort. David Plotkin has loaded this book with practical advice on stewardship so you can get right to work, have early successes, and measure and communicate those successes, gaining more support for this critical effort. - Provides clear and concise practical advice on implementing and running data stewardship, including guidelines on how to organize based on company structure, business functions, and data ownership - Shows how to gain support for your stewardship effort, maintain that support over the long-term, and measure the success of the data stewardship effort and report back to management - Includes detailed lists of responsibilities for each type of data steward and strategies to help the Data Governance Program Office work effectively with the data stewards |
| 5 importance of data management: Data Governance Dimitrios Sargiotis, |
| 5 importance of data management: Non-Invasive Data Governance Robert S. Seiner, 2014-09-01 Data-governance programs focus on authority and accountability for the management of data as a valued organizational asset. Data Governance should not be about command-and-control, yet at times could become invasive or threatening to the work, people and culture of an organization. Non-Invasive Data Governance™ focuses on formalizing existing accountability for the management of data and improving formal communications, protection, and quality efforts through effective stewarding of data resources. Non-Invasive Data Governance will provide you with a complete set of tools to help you deliver a successful data governance program. Learn how: • Steward responsibilities can be identified and recognized, formalized, and engaged according to their existing responsibility rather than being assigned or handed to people as more work. • Governance of information can be applied to existing policies, standard operating procedures, practices, and methodologies, rather than being introduced or emphasized as new processes or methods. • Governance of information can support all data integration, risk management, business intelligence and master data management activities rather than imposing inconsistent rigor to these initiatives. • A practical and non-threatening approach can be applied to governing information and promoting stewardship of data as a cross-organization asset. • Best practices and key concepts of this non-threatening approach can be communicated effectively to leverage strengths and address opportunities to improve. |
| 5 importance of data management: Web Data Management Serge Abiteboul, Ioana Manolescu, Philippe Rigaux, Marie-Christine Rousset, Pierre Senellart, 2011-11-28 The Internet and World Wide Web have revolutionized access to information. Users now store information across multiple platforms from personal computers to smartphones and websites. As a consequence, data management concepts, methods and techniques are increasingly focused on distribution concerns. Now that information largely resides in the network, so do the tools that process this information. This book explains the foundations of XML with a focus on data distribution. It covers the many facets of distributed data management on the Web, such as description logics, that are already emerging in today's data integration applications and herald tomorrow's semantic Web. It also introduces the machinery used to manipulate the unprecedented amount of data collected on the Web. Several 'Putting into Practice' chapters describe detailed practical applications of the technologies and techniques. The book will serve as an introduction to the new, global, information systems for Web professionals and master's level courses. |
| 5 importance of data management: Research Data Management and Data Literacies Koltay Tibor, 2021-10-31 Research Data Management and Data Literacies help researchers familiarize themselves with RDM, and with the services increasingly offered by libraries. This new volume looks at data-intensive science, or 'Science 2.0' as it is sometimes termed in commentary, from a number of perspectives, including the tasks academic libraries need to fulfil, new services that will come online in the near future, data literacy and its relation to other literacies, research support and the need to connect researchers across the academy, and other key issues, such as 'data deluge,' the importance of citations, metadata and data repositories. This book presents a solid resource that contextualizes RDM, including good theory and practice for researchers and professionals who find themselves tasked with managing research data. - Gives guidance on organizing, storing, preserving and sharing research data using Research Data Management (RDM) - Contextualizes RDM within the global shift to data-intensive research - Helps researchers and information professionals understand and optimize data-intensive ways of working - Considers RDM in relation to varying needs of researchers across the sciences and humanities - Presents key issues surrounding RDM, including data literacy, citations, metadata and data repositories |
| 5 importance of data management: ADKAR Jeff Hiatt, 2006 In his first complete text on the ADKAR model, Jeff Hiatt explains the origin of the model and explores what drives each building block of ADKAR. Learn how to build awareness, create desire, develop knowledge, foster ability and reinforce changes in your organization. The ADKAR Model is changing how we think about managing the people side of change, and provides a powerful foundation to help you succeed at change. |
| 5 importance of data management: Monitoring Animal Populations and Their Habitats Brenda McComb, Benjamin Zuckerberg, David Vesely, Christopher Jordan, 2010-03-11 In the face of so many unprecedented changes in our environment, the pressure is on scientists to lead the way toward a more sustainable future. Written by a team of ecologists, Monitoring Animal Populations and Their Habitats: A Practitioner’s Guide provides a framework that natural resource managers and researchers can use to design monitoring programs that will benefit future generations by distilling the information needed to make informed decisions. In addition, this text is valuable for undergraduate- and graduate-level courses that are focused on monitoring animal populations. With the aid of more than 90 illustrations and a four-page color insert, this book offers practical guidance for the entire monitoring process, from incorporating stakeholder input and data collection, to data management, analysis, and reporting. It establishes the basis for why, what, how, where, and when monitoring should be conducted; describes how to analyze and interpret the data; explains how to budget for monitoring efforts; and discusses how to assemble reports of use in decision-making. The book takes a multi-scaled and multi-taxa approach, focusing on monitoring vertebrate populations and upland habitats, but the recommendations and suggestions presented are applicable to a variety of monitoring programs. Lastly, the book explores the future of monitoring techniques, enabling researchers to better plan for the future of wildlife populations and their habitats. Monitoring Animal Populations and Their Habitats: A Practitioner’s Guide furthers the goal of achieving a world in which biodiversity is allowed to evolve and flourish in the face of such uncertainties as climate change, invasive species proliferation, land use expansion, and population growth. |
| 5 importance of data management: NoSQL Distilled Pramod J. Sadalage, Martin Fowler, 2013 'NoSQL Distilled' is designed to provide you with enough background on how NoSQL databases work, so that you can choose the right data store without having to trawl the whole web to do it. It won't answer your questions definitively, but it should narrow down the range of options you have to consider. |
| 5 importance of data management: Journal of Database Management ( Vol 23 ISS 1) Keng Siau, 2011-12 |
| 5 importance of data management: Information Storage and Management EMC Education Services, 2012-04-30 The new edition of a bestseller, now revised and update throughout! This new edition of the unparalleled bestseller serves as a full training course all in one and as the world's largest data storage company, EMC is the ideal author for such a critical resource. They cover the components of a storage system and the different storage system models while also offering essential new material that explores the advances in existing technologies and the emergence of the Cloud as well as updates and vital information on new technologies. Features a separate section on emerging area of cloud computing Covers new technologies such as: data de-duplication, unified storage, continuous data protection technology, virtual provisioning, FCoE, flash drives, storage tiering, big data, and more Details storage models such as Network Attached Storage (NAS), Storage Area Network (SAN), Object Based Storage along with virtualization at various infrastructure components Explores Business Continuity and Security in physical and virtualized environment Includes an enhanced Appendix for additional information This authoritative guide is essential for getting up to speed on the newest advances in information storage and management. |
| 5 importance of data management: Data Strategy in Colleges and Universities Kristina Powers, 2019-10-16 This valuable resource helps institutional leaders understand and implement a data strategy at their college or university that maximizes benefits to all creators and users of data. Exploring key considerations necessary for coordination of fragmented resources and the development of an effective, cohesive data strategy, this book brings together professionals from different higher education experiences and perspectives, including academic, administration, institutional research, information technology, and student affairs. Focusing on critical elements of data strategy and governance, each chapter in Data Strategy in Colleges and Universities helps higher education leaders address a frustrating problem with much-needed solutions for fostering a collaborative, data-driven strategy. |
| 5 importance of data management: Guidebook for Managing Data from Emerging Technologies for Transportation Kelley Klaver Pecheux, Benjamin B. Pecheux, Gene Ledbetter, Chris Lambert (Systems consultant), 2020 With increased connectivity between vehicles, sensors, systems, shared-use transportation, and mobile devices, unexpected and unparalleled amounts of data are being added to the transportation domain at a rapid rate, and these data are too large, too varied in nature, and will change too quickly to be handled by the traditional database management systems of most transportation agencies. The TRB National Cooperative Highway Research Program's NCHRP Research Report 952: Guidebook for Managing Data from Emerging Technologies for Transportation provides guidance, tools, and a big data management framework, and it lays out a roadmap for transportation agencies on how they can begin to shift - technically, institutionally, and culturally - toward effectively managing data from emerging technologies. Modern, flexible, and scalable big data methods to manage these data need to be adopted by transportation agencies if the data are to be used to facilitate better decision-making. As many agencies are already forced to do more with less while meeting higher public expectations, continuing with traditional data management systems and practices will prove costly for agencies unable to shift. |
万分之五怎么写？0.5% 0.5‰ 5‰ ？到底是那个啊？谢谢
万分之五是千分之0.5，也就是0.05%，但是一般不这样写，不过你也可以这样写，有一种新的表达就是千分之0.5，所以是0.5‰。 千分号就是在百分号的基础上再加一个根据好似的圆圈，如 …
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5 Data management and use: Governance in the 21st century Changing data, changing society ... purpose is of overarching importance.1 The changing nature of data management and data …
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Data governance: Driving value in healthcare - KPMG
sponsor, track and oversee the delivery of data management projects and services in an increasingly complex environment. Manage and resolve data related issues – assure ... should …
Data Management Life Cycle Final report - Texas A&M …
Data Management Life Cycle Texas A&M Transportation Institute PRC 17-84 F March 2018 Authors Kristi Miller Matt Miller ... The importance of data in this era of data-driven decision …
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Why is good recordkeeping important? - MHNSW
authenticity and integrity, that data is in context, that you will be able to understand past decisions and actions and that the info rmation will withstand scrutiny as evidence. Good recordkeeping …
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the management and use of data assets. It is performed by Commission staff with established data-related roles. Data policies are a set of broad, high level principles (8) which form the …
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2.5 Importance of Liquidity Management 42 (a) Institutional Factors 42 (b) Managerial Philosophy Factors 45 ... Data Integrity Policies 185 5.3 Putting Policies into Place 189 5.4 Establishing …
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protection of their operations and information (Dimon), cases of data leak in large institutions are becoming more frequent and involving higher volumes of data each time. According to our …
RII & IMPI: EFFECTIVE TECHNIQUES FOR FINDING DELAY IN
importance of the significant factors contributing to delay in construction project. ... analysis of these data was done by a method named relative importance index (RII) method as well as ...
Data Integrity Article
Data Integrity Importance Data in its final state is the driving force behind industry decision making. Raw data must be changed ... released guidance on good data and record …
Introduction to Data Analysis - Analyst Answers
0.5 kilograms and 1.5 kilograms respectively, the average weight of the apples is 1 kilogram—a critical thought. in other words, data analysis consists of thinking critically about organized …
The Importance of Data-Based Decision Making - SAGE …
The Importance 1 of Data-Based Decision Making T his chapter provides a general introduction to data-based decision making by addressing the question, why is using data for decision making …
