DATA MANAGEMENT

This section, the most tech-intensive part of the framework, heavily relies on IT professionals. Its processes aim to assist organizations in creating the ideal data layer to align with current and future business requirements. It includes setting up enforceable standards, selecting platforms and technologies, integrating diverse data sources, and effectively managing historical data. The data management function defines essential data activities and guides interactions within the organization.

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Evolving Data Management Strategies

The resourcing and deployment strategy for data management resources are developed based on objectives, within the parameters of the organization’s culture and existing structures that the function will integrate. In most organizations, data management function has been operational for a number of years, typically originating in IT and closely linked to development of data stores. As organizations have started to view data as strategic asset, the function and activities have expanded with new roles defined.

Data lifecycle phases

Data management function includes the end-to-end data lifecycle that runs from creation of data assets through their useful life in the business and eventual archiving or destruction. The organization will benefit from defining data usage and dependencies across business processes for data that is either critical for an important business function or needed by multiple business processes. Data lifecycle phases include the following:

Data lifecycle phases

This phase includes defining data requirements based on business objectives and creation of data

Data conversion

This phase includes transforming data from disparate sources into a standard and consistent form (a single version of truth)

Data conservation

This phase includes storing data in warehouses and marts for business usage

Data consumption

This phase includes transformation of data into information and knowledge and consumption by end users in the form of reports, dashboards, analytics, etc.

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