Comprehensive Report on Data Management: Concepts and Guidelines

This report provides a comprehensive overview of data management, exploring its meaning, importance, and the guidelines that data management professionals must follow. It delves into the impact of data management on data quality, storage, analysis, and interpretation. The report highlights the role of data management in enhancing productivity, cost efficiency, and operational nimbleness while mitigating security risks and reducing data loss. It emphasizes the importance of selecting appropriate database management systems (DBMS), ensuring data security, and adhering to functionality, update, and cost-effectiveness guidelines. The report concludes that effective data management is crucial for formulating productive strategies, improving decision-making, and maximizing organizational profitability. It also underscores the necessity of qualified professionals to manage data effectively and the importance of leveraging data management systems in today's business environment to prevent misuse and ensure optimal results.

Running head: DATA MANAGEMENT
data management

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Table of Contents
Introduction:...............................................................................................................................2
Meaning......................................................................................................................................2
Importance of Data Management...............................................................................................3
Productivity............................................................................................................................3
Cost Efficiency.......................................................................................................................3
Operational Nimbleness.........................................................................................................3
Security Risks.........................................................................................................................3
Reduced chances of Data Loss...............................................................................................3
Effects of data management.......................................................................................................4
Guidelines are to be followed by Data Management Professionals...........................................4
Selection of Database Management System (DBMS)............................................................4
Security...................................................................................................................................4
Functionality...........................................................................................................................5
Updates...................................................................................................................................5
Cost Effectiveness..................................................................................................................5
Conclusion..................................................................................................................................5
References..................................................................................................................................7

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Introduction:
There are a number of trends in technology which are continuously changing the ways of
storing, processing and using data in present business scenario. Some of these trends are
named as cloud computing, shared-service infrastructure, Internet of Things and Big Data.
These techniques have made the management of data very easy. Although before using these
techniques for managing data, an enterprise needs to know all the features, advantages and
importance of such techniques1. This report describes the concept of data management by
defining its meaning, importance and need for using the tools for data management. Further,
it describes the effect of data management on the quality of gathered data and also describes
the guidelines that are required to be followed by professionals engaged in data management
activities. At the end of the report, a conclusion has been drawn to provide an overview of the
study.
Meaning
Data management is related to the practice of maintaining and organizing data processes to
meet constant information and lifecycle needs. The need for data management begins with
the electronics period of data processing, but the methods of data management have their
roots in statistics, accounting, logical planning and other restraints. It can be defined as the
process of acquiring, storing, analyzing, validating, and processing important and required
data for the end users2. At present, most of the organizations are using Big Data to make
important business decisions and acquire in-depth knowledge of customer behavior, market
trends, and opportunities that may result in creating uncommon customer experiences.
The modern companies are turning to data management platform to make effective use of
data gathered, analyzed and stored by them. Data management system is less time consuming
and simplified process of obtaining results from the collected data3. The main advantages of
data management system are improvement in data sharing, enforcement of integrity,
minimization of data inconsistency, improvement in data security and easy backup and
recovery of data in the situation of loss or theft.
Major level data management solutions and platforms enable the enterprises to control Big
Data from main data resources in real time for enabling engagement with customers in an
efficient manner and for increasing CLV (customer lifetime value). Data Management
software is important as the enterprises are consuming and creating data at extraordinary
rates. Top data management platforms enable organizations and enterprises to examine their

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customer from a 360-degree angle to gain critical, deep and brief knowledge of customer
behavior which is helpful in giving a competitive edge to brands4.
Importance of Data Management
The importance of data management can be summarized as follows:
Productivity
Good and effective data management can make an organization more productive. It also
makes easy to find relevant information for the employees of an organization. Along with
this, it also enables them to validate and conclude results in an easy manner. Data
management provides a structure that should be used while storing the data and sharing it
with other users or employees5.
Cost Efficiency
Data management allows an organization to avoid unwanted and unnecessary duplication of
data. It stores and make data easily referable and also ensures that employees may not have to
conduct analyses on the topic which has already been analysed6.
Operational Nimbleness
An organization is required to make decisions immediately to take the advantage of the
opportunities. This is possible with the help of data management system as a good data
management system allows the employees to access information of the market conditions and
changes. As a result, data management and sharing system enables a company to make
decisions in a very quick manner.
Security Risks
If data is not managed properly then it is possible that the information may fall into the hands
of competitors or wrong persons. For example, Sony, a well-known brand of electronics was
targeted by computer attacks which led to the loss of information of 77 million play station
users7.
Reduced chances of Data Loss
An effective data management ensures that information and stored data will not be lost and
can be accessed easily at the time of requirement. Data management plan put things and
information at the right place and also has the facility of back up and retrievable of important
information from the secondary source in case the primary source become inaccessible due to
any reason.

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Effects of data management
Data management largely affects the generated data in terms of quality improvement, storage,
analysis and interpretation. The data collected by an organization includes both types of data
that is primary and secondary. An effective data management plan identifies the type of data
and categorizes the same to save the time of the user. It also identifies the relevant data to the
project and automatically eliminates irrelevant and time-consuming information8. When data
is collected by the employees, it is usually in raw form which may take a lot of time and
efforts. It can also be saved by applying data management plan and techniques. Data
processes are carried out by data management tools like big data, cloud computing, internet
of things which are based on the rules and regulations of data management. It enables the
company to work on data that is resulted after applying all the rules and it also increases the
accuracy of results9.
Usually, data collected from various sources and it is almost difficult to identify that which
source is relevant and which is not. By analyzing the quality of data, data management tools
help the employees to find out the same. With clean and reliable data, an organization can
provide professional level services to the customers and can also create a positive image by
delivering the order on or before time. The duplicity of data can also be identified by the tools
and techniques which is automatically removed at the time of providing final results. Data
management tools also have the abilities of cross-checking of data against a trusted source for
improvement or validation10.
Guidelines are to be followed by Data Management Professionals
As data management is an important aspect on the basis of which, an organization takes final
and important decisions related to operational, financial, marketing areas. There are some
guidelines that are to be followed by the professionals engaged in data management process.
These guidelines can be summarized as follows:
Selection of Database Management System (DBMS)
The professionals are required to consider that DBMS selected by them should be user-
friendly so that all staff members can use it without facing any issue. The selected DBMA
should also be appropriate for the purpose of analyzing collected data in the desired manner11.
Security

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Sensitive business data and personal information of customers should be stored strongly and
securely to protect it from theft and loss. Such theft and loss can be of two types including
tangible risk like risk from fire and intangible risk like the risk of hacking, corrupting, viruses
and human errors. The professionals, responsible for effective data management are always
guided by their organizations to keeping the data secure form all such risks.
Functionality
The professionals are guided to check that whether the modules available in DBMS meet the
requirements of the business or not. This can be analyzed by considering following aspects:
 Filter and Extraction of data
 Proper Analysis
 Modeling and Segmentation
 Automation
 Strategy Forecasting
 Visualization of Results
 ROI Management and Campaign Planning
Updates
Data Management professionals are strictly guided to check updates related to the stored data
and present and future processes. There should be a frequency in accepting the updates of
data and some important day to day updates should be automatically accepted by the system
so that processes and results may fulfill the current business requirements along with all the
trends and updates12.
Cost Effectiveness
The tools and techniques selected by the professionals should be cost effective to the
company. The entire process of data management includes hiring technical experts, paying
for the licensing of data, maintaining records and consumption of hard and soft cost for
keeping the data secure. Therefore, data professionals should examine all these aspects
because these are the main reasons for increasing the cost of using data management.
Conclusion
This report concludes that an effective data management system can lead to an organization
in formulating productive strategies from customer perspective. The same idea can also be

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concluded by studying the importance of Data management system. The total systems and
techniques affect the quality of collected data and therefore an organization should carefully
analyze the features of a database management system and their compatibility level with the
organizational objectives. The report also concludes that the professionals, responsible for
managing DBMS are required to follow the guidelines so that data can be managed in an
appropriate manner and can be used by the users at the time of requirement. Data
management is not an easy function and is required to be performed by the qualified
professionals. Also, all the organizations working in the present scenario should majorly
consider the applicability of data management systems so the data can be saved from any
type of misuse and results can contribute in increasing the profitability of the organization.

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