Data management

Data management comprises all disciplines related to handling data as a valuable resource, it
is the practice of managing an organization’s data so it can be analyzed for decision
making.[1]

The data lifecycle

Concept
The concept of data management arose in the 1980s as technology moved from sequential
processing [2] (first punched cards, then magnetic tape) to random access storage.
Since it was now possible to store a discrete fact and quickly access it using random access
disk technology, those suggesting that data management was more important than business
process management used arguments such as "a customer's home address is stored in 75
(or some other large number) places in our computer systems." However, during this period,
random access processing was not competitively fast, so those suggesting "process
management" was more important than "data management" used batch processing time as
their primary argument.

As application software evolved into real-time, interactive usage, it became obvious that both
management processes were important. If the data was not well defined, the data would be
mis-used in applications. If the process wasn't well defined, it was impossible to meet user
needs.

Topics
Topics in data management include:

1. Data governance
Data asset
Data governance
Data trustee
Data custodian or guardian
Data steward
Data subject
 Data ethics
2. Data architecture
Data architecture
Dataflows
3. Data modeling and design
4. Database and storage management
Data maintenance
Database administration
Database management system
Business continuity planning
Hierarchical storage
management
Data subsetting
5. Data security
Data access
Data erasure
Data privacy
Data security
6. Reference and master data
Data integration
Master data management
Reference data
7. Data Integration and inter-
operability
Data movement (ETL, ELT)
Data interoperability
8. Documents and content
Document management
system
Content management
Records management
9. Data warehousing and business
intelligence and Analytics
Business intelligence
Data analysis and data mining
Data warehouse and data mart
Data analytics
10. Metadata
Metadata management
Metadata
Metadata discovery
Metadata publishing
Metadata registry
11. Data quality
Data discovery
Data cleansing
Data integrity
Data enrichment
Data quality assurance
Secondary data
Usage
In modern management usage, the term data is increasingly replaced by information or even
knowledge in a non-technical context. Thus data management has become information
management or knowledge management. This trend obscures the raw data processing and
renders interpretation implicit. The distinction between data and derived value is illustrated by
the information ladder. However, data has staged a comeback with the popularisation of the
term big data, which refers to the collection and analyses of massive sets of data. While big
data is a recent phenomenon, the requirement for data to aid decision-making traces back to
the early 1970s with the emergence of decision support systems (DSS). These systems can
be considered as the initial iteration of data management for decision support.[3]

Several organisations have established data management centers (DMC) for their
operations.[4]

See also

Open data
FAIR data
Pseudonymization
Information architecture
Enterprise architecture
Information design
Information system
Controlled vocabulary
Data curation
Data retention
Data Management Association
Data management plan
Data mesh, a domain-oriented data
architecture[5]
Computer data storage
Data proliferation
Digital preservation
Document management
Enterprise content management
Hierarchical storage management
Information repository
 Machine-readable document
Performance report
System integration
Customer data integration
Identity management
Identity theft
Data theft
ERP software
CRM software

Data Sources
Marketers and marketing organizations have been using data collection and analysis to refine
their operations for the last few decades. Marketing departments in organizations and
marketing companies conduct data collection and analysis by collecting data from different
data sources and analyzing them to come up with insightful data they can use for strategic
decision-making (Baier et al., 2012). In the modern business environment, data has evolved
into a crucial asset for businesses since businesses use data as a strategic asset that is
used regularly to create a competitive advantage and improve customer experiences. Among
the most significant forms of data is customer information which is a critical asset used to
assess customer behavior and trends and use it for developing new strategies for improving
customer experience (Ahmed, 2004). However, data has to be of high quality to be used as a
business asset for creating a competitive advantage. Therefore, data governance is a critical
element of data collection and analysis since it determines the quality of data while integrity
constraints guarantee the reliability of information collected from data sources. Various
technologies including Big Data are used by businesses and organizations to allow users to
search for specific information from raw data by grouping it based on the preferred criteria
marketing departments in organizations could apply for developing targeted marketing
strategies (Ahmed, 2004). As technology evolves, new forms of data are being introduced for
analysis and classification purposes in marketing organizations and businesses. The
introduction of new gadgets such as Smartphones and new-generation PCs has also
introduced new data sources from which organizations can collect, analyze and classify data
when developing marketing strategies. Retail businesses are the business category that uses
customer data from smart devices and websites to understand how their current and
targeted customers perceive their services before using the information to make
improvements and increase customer satisfaction (Cerchiello and Guidici, 2012). Analyzing
customer data is crucial for businesses since it allows marketing teams to understand
customer behavior and trends which makes a considerable difference during the
development of new marketing campaigns and strategies. Retailers who use customer data
from various sources gain an advantage in the market since they can develop data-informed
strategies for attracting and retaining customers in the overly competitive business
environment. Based on the information on the benefits of data collection and analysis, the
following hypotheses are proposed: The sources of data used as the foundation of data
collection and analysis have a considerable impact on the data analysis tools used for
analyzing and categorizing data.

Data Analysis Tools

Organizations use various data analysis tools for discovering unknown information and
insights from huge databases; this allows organizations to discover new patterns that were
not known to them or extract buried information before using it to come up with new patterns
and relationships (Ahmed, 2004). There are 2 main categories of data analysis tools, data
mining tools and data profiling tools. Also, most commercial data analysis tools are used by
organizations for extracting, transforming and loading ETL for data warehouses in a manner
that ensures no element is left out during the process (Turban et al., 2008). Thus the data
analysis tools are used for supporting the 3 V’s, volume, variety and velocity in Big Data.
Factor velocity emerged in the 1980s as one of the most important procedures in data
analysis tools which was widely used by organizations for market research. The tools used to
select core variables from the data that was collected from various sources and analyzed it; if
the amount of data used to be too huge for humans to understand via manual observation,
factor analysis would be introduced to distinguish between qualitative and quantitative data
(Stewart, 1981). Organizations collect data from numerous sources including websites,
emails and customer devices before conducting data analysis. Collecting data from
numerous sources and analyzing it using different data analysis tools has its advantages,
including overcoming the risk of method bias; using data from different sources and
analyzing it using multiple analysis methods guarantees businesses and organizations
robust and reliable findings they can use in decision making. On the other hand, researchers
use modern technologies to analyze and group data collected from respondents in the form
of images, audio and video files by applying algorithms and other analysis software Berry et
al., 1997). Researchers and marketers can then use the information obtained from the new
generation analysis tools and methods for forecasting, decision support and making
estimations for decision making. For instance, information from different data sources on
demand forecasts can help a retail business determine the amount of stock required in an
upcoming season depending on data from previous seasons. The analysis can allow
organizations to make data-informed decisions to gain competitive advantage in an era
where all businesses and organizations are capitalizing on emerging technologies and
business intelligence tools to gain competitive edges. While there are numerous analysis
tools in the market, Big Data analytics is the most common and advanced technology that
has led to the following hypothesis: Data analytic tools used to analyze data collected from
numerous data sources determine the quality and reliability of data analysis.

Data Security and Data

Privacy
While organizations need to use quality data collection and analysis tools to guarantee the
quality and reliability of the customer data they collect, they must implement security and
privacy strategies to protect the data and customer information from privacy leaks (Van Till,
2013). A study conducted by PWC indicated that more than two-thirds of retail customers
prefer purchasing products and services from businesses that have data protection and
privacy plans for protecting customer information. Also, the study indicated that customers
trust businesses that can prove they cannot use customer data for any other purposes other
than marketing. As technology and the Internet continue improving, the success of
businesses using it as a platform for marketing their products will depend on how effectively
they can gain and maintain the trust of customers and users. Therefore, businesses will have
to introduce and implement effective data protection and privacy strategies to protect
business data and customer privacy. Although developing trust between customers and
businesses affects the customers’ purchasing intentions, it also has a considerable impact
on long-term purchasing behaviors including how frequently customers purchase which
could impact the profitability of a business in the long run. Thus, the above information leads
to the following hypothesis: Implementing data security and privacy plans has a positive
impact on economic and financial outcomes.

Financial and Economic

Outcomes
Studies indicate that customer transactions account for a 40% increase in the data collected
annually, which means that financial data has a considerable impact on business decisions.
Therefore, modern organizations are using big data analytics to identify 5 to 10 new data
sources that can help them collect and analyze data for improved decision-making. Jonsen
(2013) explains that organizations using average analytics technologies are 20% more likely
to gain higher returns compared to their competitors who have not introduced any analytics
capabilities in their operations. Also, IRI reported that the retail industry could experience an
increase of more than $10 billion each year resulting from the implementation of modern
analytics technologies. Therefore, the following hypothesis can be proposed: Economic and
financial outcomes can impact how organizations use data analytics tools.

References

1. "What Is Data Management? Importance

& Challenges | Tableau" (https://www.tabl
eau.com/learn/articles/what-is-data-man
 agement) . www.tableau.com. Retrieved
2023-12-04.

2. Hoare, C. A. R. (2004) [1985].

Communicating Sequential Processes (htt
p://www.usingcsp.com/) . Prentice Hall
International. ISBN 978-0-13-153271-7.

3. Watson, Hugh J.; Marjanovic, Olivera

(2013). "Big Data: The Fourth Data
Management Generation". Business
Intelligence Journal; Seattle. 18 (3): 4–8.

4. For example: Kumar, Sangeeth; Ramesh,

Maneesha Vinodini (2010). "Lightweight
Management framework (LMF) for a
Heterogeneous Wireless Network for
Landslide Detection". In Meghanathan,
Natarajan; Boumerdassi, Selma; Chaki,
Nabendu; Nagamalai, Dhinaharan (eds.).
Recent Trends in Networks and
 Communications: International
Conferences, NeCoM 2010, WiMoN 2010,
WeST 2010,Chennai, India, July 23-25,
2010. Proceedings (https://books.google.
com/books?id=8i5qCQAAQBAJ) .
Communications in Computer and
Information Science. Vol. 90. Springer.
p. 466. ISBN 9783642144936. Retrieved
2016-06-16. "4.4 Data Management
Center (DMC)[:] The Data Management
Center is the data center for all of the
deployed cluster networks. Through the
DMC, the LMF allows the user to list the
services in any cluster member belonging
to any cluster [...]."

5. "Data Mesh: Delivering data-driven value

at scale" (https://www.thoughtworks.co
m/insights/books/data-mesh) .
External links

Media related to Data management at

Wikimedia Commons
Data management (https://curlie.org/C
omputers/Software/Master_Data_Man
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