Data. Whether you have a large business or a small business, you have to deal with business IT and data management. Data can provide incredible insights to your customers.
More often than not, you have the data available, you don’t manage it well. The mismanagement of data is costing your company opportunities. One estimate says that about 73% of data isn’t used for analytics.
That means you’re missing out on major opportunities to understand your customers, be more efficient and become more profitable.
Read on to learn the top business data management tips to make the most out of your data.
1. What Data Do You Collect?
The first thing you need to do is to map out a plan for your data. You have to figure out all of the types of data you collect in your business.
Once you understand what you have at your disposal, you may be surprised to learn how you can leverage the data. You probably have more information about customer preferences and behaviors than you realize.
You have to ask yourself how you can use what you have to provide a much better customer experience. Your next step is to align the data collected, the usage of the data, and your KPIs to track whether or not you’re making progress.
2. Manage Data In-House or Outsource?
You’d think that managing data in-house would be a no-brainer. It may not be if you have limited space to put your servers.
The other option is to completely outsource data management to another company. They handle the backups, management, servers, and space for your data off-site.
3. Use Colocation
Colocation services like Colocrossing offer the best of both worlds between outsourcing and managing data in-house. Colocation is where you have your servers with your data residing on a location outside of your office.
You basically rent space in a data center that comes equipped with a full support staff, backup, and network redundancy options. You don’t need to figure out data center management, but you maintain control over your own servers.
4. Be Compliant
Data compliance is a huge part of data management today. As more companies are collecting data, and some companies misuse it, there are more regulations for companies to abide by.
There’s GDPR, CCPA, HIPPA, and Sarbanes-Oxley. These regulations are meant to protect consumers from data breaches and give them control over how their personal data is used.
You have to stay on top of all of the regulations where you do business. It’s not an easy job because these regulations are changing can governments try to catch up with technology.
Business IT Tips to Manage Data Better
It’s very possible that you’re sitting on a goldmine and don’t realize it because you don’t have a handle on your data.
Business IT has changed over time and it’s now focused on collecting, securing, and making sense out of the massive amounts of data.
There are a number of ways to manage data, such as having a data management plan, complying with regulations, and finding a home for all of that data.
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