Data management is the development and execution of processes, architectures, policies, practices and procedures in order to manage the information generated by an organization.
The effective management of data within any organization has grown in importance in recent years as organizations are subject to an increasing number of compliance regulations, large increases in storage information storage capacity and the sheer amount of data and documents being generated by organizations. This rate of growth is not expected to slow down as IDC predicts the amount of information generated will increase 29 fold by 2020(^). These large sums of data from ERP systems, CRM systems and general business documents if often referred to as big data.
Data management is important because the data your organization create is a very valuable resource. The last thing you want to do is spend time and resources collecting data and business intelligence, only to lose or misplace that information. In that case, you would then have to spend time and resources again to get that same business intelligence you already had.