Effective Data Management as a Competitive Advantage of Business Entity

Abstract

The relevance of the research lies in the increasing influence of data management efficiency on all spheres of the modern economy. Today, no one disputes the importance of information for ensuring effective management decision-making and sustainable business development. The activity of any organization is accompanied by the collection, accumulation, processing, transmission of data necessary for effective business management and the formation of a corporate interaction environment. The purpose of this study is to identify trends in the development of corporate data management systems that provide sustainable competitive advantages of business. In accordance with the goal, the following tasks were set: identify changes in data management approaches that will provide a sustainable competitive advantage; to develop a universal architectural concept of an effective big data management system at all levels of business interaction; to develop recommendations for the transition of business to the proposed architecture of a digital data management platform. In the process of research, the authors of the article used such methods as theoretical (analysis, generalization, synthesis, abstraction, formalization, concretization) and general philosophical analysis (system method, analysis, observation). The authors use legal methods (formal- logical) as the basis for drawing conclusions. The article discusses the issues of managing integration processes of data management in the context of the development of the digital economy. The problems related to the efficiency of corporate data management at the present stage of development are analyzed. It is shown that the influence of corporate data management functions is characterized by significant features, which is why the effectiveness of their management is evaluated ambiguously at the current stage of economic development. Solving these problems requires rethinking the existing approaches to data management, as well as developing a new architecture of the special tools used. As a result of the research, the concept of a multi-level architecture of a corporate data management system (ecosystem) at all levels of business in any field of activity has been developed, taking into account the economic conditions of the country. Recommendations on the transition of companies to the proposed architecture of the corporate data management system have been developed.