Data Management and Analytics

These two terms ‘data management’ and ‘analytics’ are nowadays very important and well known terms used in business sector. To know about these two things at first we should go through their definitions. These two things cover a vast sector in business and commercial world.

First come the data management. From this term we get to know that it is something related with ‘data’. In an elaborate and simple sense from the words we can assume that it is something about the management of data. There are so many data in the world, each and every sector. So sometimes it becomes really tough and impossible to manage all these data without any particular management policy. It determines this policy. The Data Management Association DAMA provides the official definition of it. They say, "Data Resource Management is the development and execution of architectures, policies, practices and procedures that properly manage the full data lifecycle needs of an enterprise." There is also an alternative definition given by DAMA Data Management Body of Knowledge (DAMA-DMBOK) and that is: "Data management is the development, execution and supervision of plans, policies, programs and practices that control, protect, deliver and enhance the value of data and information assets." In 1980 when technology stirred from ‘sequential processing’ to ‘random access processing’ the theory of data management invoked.

Contemporarily management practice, one can conveniently comprehend a propensity away from the term 'data' in composite expressions to the expression information or also mastery when sounding in non-technological circumstance. So there subsist not only management of data, but also management of information and management of knowledge. This is an ambiguous fashion as it covers that conventional data are administrated or somehow operated on subsequent search. The difference between data and secondary esteems can be seen in the entropy ravel. While data can subsist as similar, 'information' and 'knowledge' are also in the mind of the spectator and can only be counted in relevant parts.

Now comes the second one. Analytics is the breakthrough and transmission of eloquent archetypes in data. Chiefly estimable in fields sumptuous with listed entropies. It depends on the accompanying function of statistics, computer programming and operation research to measure the execution. It frequently promotes data visualization to correspond sagacity. It is generally applied to business data, to explain, anticipate, and amend commercial fulfillment. In particular, fields within it comprise management of business resolution, analytics of sell, fund collection and stock-keeping cell and etc. as it can claim ample estimation, the algorithmic rules and software’s occupied for it restrain the most accepted approaches in computer science, statistics, and mathematic.

Now we get enough information of these two terms. These two terms are very important and effectively applied in each of every fields of business. Nowadays these are hugely used in industries and companies and group of companies to bring and promote better business ideas. These two things are actually nothing but scientific cross-sections. These adjust the correct persons, methods and technology to build the accurate scheme. Big Data move and unveil the beneficial business chances today.