Key benefits and features of data management in 2023

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Well-crafted data can have an impact on business success. Discover key benefits and features of data management.
Good data management enables data discovery, sharing and reuse . These characteristics of good data management reduce costs in terms of time and money. Together with best practices, they can also help to make data more accessible and discoverable.

What are the main benefits of implementing a data management solution and what do companies expect in 2023?



HubSpot BLOG

In 2022 , the global data management market size reached a value of $89.34 billion with the software segment accounting for 76.1% of revenue associated with higher spending on digital architect database and cloud analytics tools by companies.

Source: Grand View Research



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Benefits of data management platforms

These tools provide certain benefits that impact data-driven companies:

Increased productivity – No matter where your data is stored, from legacy systems to the cloud , data management solutions help you access the data you need and perform analysis more efficiently. Once you define data management rules, using them repeatedly provides a standard method for improving and integrating data, without additional expense.

Easy collaboration with other teams : Data management tools allow users to automatically update data, modify processes, and analyze results. Additionally, a built-in business glossary can be provided along with data provenance tracking capabilities to ensure access to the same information and drive collaborative work.

Trusted and actionable data : Data management platforms ensure that data is prepared for visualization, analysis, or operational use and often incorporate audits to monitor its processing. This promotes data quality, transparency, and accountability.

HubSpot BLOG 2




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Big Data Integration, Management, and Governance – As organizations put more data in the cloud, they need to extract value from that information. Data management applications provide quick and easy access across a variety of technologies to manage data wherever it resides.

Seamless technology built by specialists : Data management tools from specialist companies are fully integrated, meaning you are not locked into a bespoke solution. Everything from data quality to data governance is part of the same architecture.