Final answer:
Data management technology includes hardware for storing data, software for organizing data on media, and the hardware and software systems for transferring data. It is a crucial part of a computer system's operation, allowing for efficient processing and storage of information.
Step-by-step explanation:
Data management technology involves the hardware and software systems used to manage and protect data. It includes:
- Physical hardware and media used by an organization for storing data, such as external hard drives and servers.
- Software that governs the organization of data on physical storage media.
- Systems used to transfer data, which can include both hardware and software components.
Computers from the 1950s to today demonstrate the evolution of data management technology, from large cumbersome systems to compact and efficient digital storage solutions. The development of this technology has allowed businesses to select the optimal combination of labor and physical capital for data management to maximize efficiency and reduce costs.