April COmmunIT Breakfast
The Importance of Managing Overwhelming Data
In today’s digital age, data is king. It is easily one of the most important assets of businesses today. It is the foundation of information and the basis of how decisions are made. However, many businesses, including yours, may have an overwhelming amount of data, making it hard to make effective and efficient use of it. Effective decisions are only made when data is accurate and complete, and the opposite is also true. Bad management of data can lead to damaging decision making due to incomplete information.
While it’s clear that properly managed data is key to a successful business, let’s look at the specific benefits it brings.
Effectively managed data helps in minimizing errors that could cause problems for your business. The more occurrences of processes like copy-paste, drag and drop, and linking of documents, the greater the likelihood of data errors. Therefore, an effective data management strategy and data quality initiative must be implemented to better control the effectiveness of this powerful asset.
Availability of Information
The fast-paced environment of the business world calls for speedy and accurate access to data. One of the primary benefits for managed data is the availability of information related to the business function. When you need something, you will know exactly where to find it, no hassle involved.
Never has there been a time in history where so much personal and business information is available. When you store private information, such as credit card numbers, phone numbers, addresses, and photos, it is of paramount importance that this data is protected by the best possible measures. If this data is not managed properly, it can fall into the wrong hands. Data theft can cause severe implications to your business. The last thing you want is your personal information in the hands of people who will not protect it properly.
Minimal Chance of Data Loss
A good management system will reduce the chances of losing important business information. It also ensures your data is backed up and, in case of a sudden glitch or failure, any data that is lost can be easily retrieved, limiting any repercussions to your business.
Better Decision Making
When everything is in its place, and everyone knows where to look for it, the quality of your decisions improves drastically. By nature, people have different ways of processing information, but a centralized system ensures a framework to plan, organize, and delegate data. Additionally, a good system will ensure good feedback, which in turn will lead to necessary updates to the process. This will only benefit your company in the long run.
It is clear that data has the ability to transform your business. However, this can only be done if it is properly organized and managed.
Want to get the most out of your business’s data? Contact Plow Networks today.
Headquartered in Brentwood, Tennessee, Plow is a Total Service Provider (TSP) with several distinct business practices that, when consumed together, offer our clients a unique, best-in-class experience that give them peace of mind, valuable time back and the economies of scale that come with having one partner that is focused on exceeding their expectations with every engagement.