Data management is the process of acquiring, validating, storing, protecting and processing data. The key objectives of any data management will be to achieve the following with an organisation’s data:
The increasingly growing speed in which data and data sources are being created as well as changes to data regulations (GDPR) are key drivers to creating a comprehensive Data Management Strategy.
With the increasingly large amount of data and data sources being created as well as changes to data regulations (GDPR), having an effective data management strategy has become crucial not just for gaining a competitive edge using smarter, data-driven insights – but also a legal requirement.
Smart data management can allow you to draw potentially crucial, and more importantly accurate, insights from your data based on trends and profiling. It also allows you to run your organisation smoothly and you provide the best possible services to your customers.
Finally the GDPR means you will need an effective data management strategy in place in order to comply. Subject Access Requests, Right to Erasure and Data Portability will all require you to have a detailed overall view of your data to be able to fulfil requests completely and in the time restrictions.
When building a Data Management strategy that works in your organisation, there are 3 things that need to be considered: