Data management refers to the practices of collecting, storing, and using data effectively and cost-effectively. It aims, generally speaking, to enable persons, organizations, and interconnected systems to make the most efficient use of data in a manner consistent with applicable policies and regulations. This helps make well-informed decisions and actions that maximize the benefits to the organizations involved. With the increasing reliance of many organizations on intangible assets for value creation, the need for a sound data management approach has never been more relevant.
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