The Data Life Cycle

Abstract

Couple this situation with IoT, and soon you can be drowning in data. [...]enterprises have to transform, synthesize, and simplify the data so it can be utilized by functional departments. Reporting of data is a key phase of the data life cycle that is ripe for automation. Since rules, definitions, and requirements for these reports either rarely change or have slight changes year after year, automated processes designed by management accountants help to create and publish these reports in a more efficient manner. 6. [...]it's imperative that enterprises create a business case on why a particular set of data is required and then identify the gaps within the data life cycle where investments need to be made.