Enterprise Data Management Market - an Evolution for the Data Industry
Enterprise Data Management Market is rising rapidly as the enterprise data management solutions are gaining importance due to increased need for managing voluminous data generated in an organization on a daily basis.
Albany, NY -- (SBWire) -- 04/19/2019 --Enterprise Data Management (EDM) is an enterprise's ability to effectively manage, integrate, disseminate, and create data for enterprise processes, entities, and applications requiring accurate and timely data delivery. EDM also addresses the concept of transmission of different datasets within applications and processes which rely on consumption of data sets to complete business transactions or processes. EDM addresses circumstances where users within an enterprise independently model, manage, store, and source data. Uncoordinated approaches can result in quality inconsistencies and data conflicts lowering the trustworthiness of data used for reporting and various operations.
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EDM relates to how content gets integrated into applications as well as how the content is passed from one process to another. EDM removes organizational conflicts and issues resulting from mismanagement of data. It implements structured data delivery from data producer to data consumer. EDM comprises computing and network infrastructure, business logic and policies, and software applications used to manage enterprise data flow. Implementation of EDM requires collaboration between various departments such as finance, operations, and IT.
EDM solutions streamline business operations and also derive necessary conclusions from data. It also formulates strategy for business operations ensuring transparency in the overall enterprise system. Enterprise data management smoothens the flow of data and reduces cycle time for various tasks. This brings about efficiency and effectiveness in managing enterprises. By acting as a master data management platform, enterprise data management provides customer data which includes onboarding of new client data to integrate into internal systems of organizations.
Enterprise data management solutions are gaining importance due to increased need for managing voluminous data generated in an organization on a daily basis. The need for framing data strategy to gain competitive and strategic advantage is driving the enterprise data management market. The amount of data generated and handled by organizations which they can use to their advantage is growing at a tremendous rate which places data management high on their agendas which is also driving the EDM market.
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However, data address validation issues, data quality, and data silos are some of the restraining factors hindering the growth of the EDM market. On the other hand, EDM as a tool of taking competitive advantage is causing increasing adoption of enterprise data management by number of companies which is creating opportunities for the growth of the market. Moreover, proliferation of Big Data technology is also expected to help the EDM market grow during the forecast period.
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