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Data is a powerful tool, and managing it effectively is just as important as using it. When it comes to data management, there are a number of ways to go about it. You could dive headfirst with an all-encompassing data management tool, or you could learn how other companies handle their data so you can implement the same strategies at your own organization. This article will help you understand what data management means from a software perspective, and provide four essential tools for managing your company’s data.

What is Data Management?

Data management is the process of managing all your data sources, both in-house and third-party, to ensure they are properly structured and maintained, and that they do not get out of control. It may also include the optimization of your data ingestion and storage processes. Data management also encompasses the assurance of access and security of data, and its proper disposal.

What Tools Does Data Management Require?

In order to effectively manage your data, you will need to find a way to integrate the data into a ‘’single source of truth’’. The concept of a ‘’so so truth’’ data source is not new, but has gained renewed attention in the context of big data. To put it simply, a ‘’so so truth’’ data source is a database that contains all your data, along with the ability to verify its integrity and authenticity. All modern data systems should meet these criteria, and the following tools are key to effectively managing your data, regardless of which system you use.

Data Warehousing : The Road to Profitability

Data Warehousing is the practice of dividing your data into distinct databases, often called data warehouses, and holding them in a location that is easily accessible and shared among various team members. The team can then query the warehouse data, rather than having to go through the effort of finding and examining each data point individually. While the idea is to have a single source of truth, data warehouses are just as valuable as a single source of truth when it comes to data management. Data warehouses facilitate data analysis and provide insight into how your data relates to other data sets.

Data Mining : Finding New Uses For Old Data

Data mining is the process of finding new uses for old data. In other words, it is the process of taking data that is no longer useful, but holds some value, and turning it into a profitable use. Data mining is not only about finding new uses for your old data, but also about validating the value of your existing data and making sure you have the right data to begin with. There are a number of data mining techniques that can be used to find new uses for old data, including text analysis, machine learning, and natural language processing.

Wrapping Up

Data management is a process of managing all your data sources, both in-house and third-party, to ensure they are properly structured and maintained, and that they do not get out of control. It may also include the optimization of your data ingestion and storage processes. Data management also encompasses the assurance of access and security of data, and its proper disposal.