THE IMPORTANCE OF DATA MANAGEMENT IN THE BUSINESS WORLD

What Does Data Mean?

The compiled and formulated form of the information in the computer environment in order to enable it to be processed by the programs is called data. Data, in its simplest definition, means “a little information”. In fact, in a simpler form, we can say “information particle” for data.

“You can have data without information, but you cannot have information without data.”

— Daniel Keys Moran

Data Management

As the amount of data owned by enterprises increases, the importance of managing and making this data meaningful also increases. Integrating a large number of data and being able to perform effective analyzes, as well as being able to do them quickly, has become one of the biggest problems faced by enterprises.

Why Is Data Management Important?

The importance of data management comes up at each of the stages of data collection, storage, and use. The main purpose of data management is to create predictions and make accurate business decisions by using the collected data in its simplest form.

Every application, analytical solution and algorithm used in a business depends on seamless access to data. Basically, a data management system helps to ensure that the data is secure, usable and accurate. But the benefits of data management do not end there.

The topics that data management focuses on the most are:

- Ensuring data cleaning.

- Storing and integrating data.

- Creating a system that can access data in the fastest and healthiest way.

- Data backup and recovery systems.

- Making data analyzable.

What Are The Benefits Of Data Management?

Data management is very important for companies that want to use data. Data affects the profitability of enterprises, their competitive advantage and, in general, the success of the enterprise. The main benefits of this process for businesses are as follows:

• Decision Making: The use of up-to-date and accurate data enables businesses to make better decisions.
• Customer Analytics: Data management allows businesses to get to know their customers better. The data shows the preferences, habits and behavior of customers. In this way, businesses can offer special offers to increase customer loyalty by creating customer profiles.
• Marketing Impact: Data management determines which ways are the most effective in marketing by making the marketing activities of enterprises effective.
• Operational Efficiency: Data management increases the operational efficiency of enterprises. Data allows enterprises to be more effective in their production, sales, finance and other activities. It shows which activities of enterprises have the highest profit and should be carried out better.
• Regulations: Data management enables enterprises to comply with issues such as data security, privacy and accessibility. Regulations determine how businesses’ data will be used, stored and shared.
• Risk Management: Data management enables enterprises to minimize their risks. Data allows enterprises to predict possible problems in the future and take measures.
• Data Science: Data management serves data science applications. Data management provides the processes from the collection of data to its storage, processing and use. In this way, data scientists and analysts can easily perform applications such as data analytics and data mining.

Data Management Best Practices

— A discovery layer must be created so that the data can be identified.
— A data science environment should be developed that will provide new uses for data efficiently.
— Autonomous technology should be used to maintain performance levels in the data layer.
— It should be ensured that an integrated database is used.
— Make sure the database platform has the performance, scale, and availability to support your business.
— A common query layer must be used to manage many and various forms of data storage.

As a result, since information is derived from data, the stronger the information we obtain, the more possible it is to obtain a superpower.