Data management refers to the ways you plan to collect, document, store and share your research data. It is important to think about data management at the start of your research project. This will save you time and energy during your research. In addition, more and more funding agencies require you to write a Data Management Plan (DMP), or add a data-paragraph to your research grant application.
Data Management is essential throughout and even after finishing your research. The UK Data Archive developed an interactive Research Data Life Cycle map which shows the key-elements of Data Management in different research phases.
Source: UK Data Archive