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What is a Data Management Platform?

  • Indhu 

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Introduction

With the explosion of digital media and the resultant avalanche of constantly increasing user data being created and collected daily, businesses, institutions, and organizations need better ways to manage that data beyond the standard suite of tools. The description of a Data Management Platform or Augmented Data Platform is the latest jargon used to describe a solution that solves these data management needs. The following will briefly describe what an Augmented Data Management Platform is and outline the essential components that are necessary for any adequate such platform.

What is a Data Management Platform?

A Master Data Management platform, referred to by tech leaders such as Deloitte and Gartner as an Augmented Data Platform, provides a platform for managing shared types of data from across the enterprise for a single point of reference. This shared data, including customers, suppliers, sites, products, and employees, is linked by the Data Management platform from multiple on-premise or cloud data sources. The Augmented Data Platform ensures the shared creation and enforcement of data management rules and policies for accessing, updating, and reviewing all data, including data quality, data cataloging, and data remediation, to name a few. It is the best way to capture valuable data, categorize it to assure accurate insights, and then utilize it to drive dependable outcomes.

What Does a Data Management Platform Do?

For data-driven organizations of all types and sizes, an Augmented Data Platform manages data more intelligently by providing optimized data stewardship. An augmented data management platform allows you to gather, correct and sort data to draw insights by easily interpreting it to administer your business and make critical business conclusions.

Proficient data management allows all lines of business to benefit from a 360-degree data-centric approach to improve business results such as customer service and experience, sales initiatives, and optimizing supply chains. To achieve these essential goals and restore trust in data and reports, it is mandatory that any suitable Augmented Data Platform contains the following vital components or modules. 

How does DQLabs Data Management Platform work?

DQLabs augmented data management platform manages your entire data lifecycle including data quality, data governance and data remediation to name a few. With its ML and self-learning capabilities, your business will locate, measure, monitor, remediate and improve its data across all silos and all types of data. The platform features all the modules discussed above and more. In future posts, we will go into the details of how each module works by itself and together with the other modules.

Final thoughts

An augmented data management platform is a data management system that manages the entire data lifecycle and all necessary aspects. For assisting in revenue generation, it allows business and technical users to accurately classify your customers and sales campaign data from multiple sources, thereby allowing businesses to target customers and market segments more effectively. DQLabs is a prime example of an optimized MDM, or augmented data platform giving you 360-degree control of your data using ML and self-learning capabilities.