VII. Data Management
Data Management involves organizing and maintaining the integrity of data throughout its lifecycle. This includes planning, implementing, and overseeing strategies for storing, retrieving, and protecting sensitive information. It also entails ensuring data consistency, accuracy, and compliance with relevant regulations and standards. Data management processes are put in place to prevent data loss, ensure data accessibility, and maintain data quality. The process involves categorizing, classifying, and securing data based on its criticality, sensitivity, and regulatory requirements. Furthermore, it includes monitoring data for any discrepancies or anomalies and taking corrective actions as needed. Effective data management is essential for ensuring the reliability of data-driven decisions and maintaining a competitive edge in the industry.