You may not know how much time it would take to search for data which is duplicated in your server. If you wanted to search through the mostly used tools such as spreadsheets or CRMs and so on, you may end up with a lot of unnecessary duplicate entries.
It is undeniable that managing data is becoming harder and harder these days due to the frequency, volume and speed of data which always keeps on increasing. However, without a powerful data management strategy, your company may lose the chance to make the most out of the important data.
The definition of data management
Data management is the task of acquiring, validating, saving, protecting and utilizing data accessibly, reliably and meaningfully. No matter which kind of industry you are working for, your company owns a lot of vital data. If you do not have a good data management strategy in place, you may ignore insights that could bring about profit for your organization.
The importance of data management
At first, you may suppose that making a plan for data management may be time-consuming with low return and it is enough that your team can work well without the support of data management. Nevertheless, without a right data management strategy as well as scheduled audits, your team may run into risks and difficulty because of overlooking data mistakes, overuse of tools and so on. In addition, a lot of issues could only be solved by taking advantage of some data management best practices.
This article is going to provide you with a general knowledge about some popular data problems facing companies nowadays together with some tips used to avoid them.
It is difficult to find data and it is often lost.
In order to make sure you can access data quickly and easily, your information should be managed properly. If your teams find it difficult looking for data, it may be your information is being stored in disparate systems in which approach is limited. This problem is also known as data silos. There are mainly three factors that lead to data silos.
First and foremost, it is due to company culture. When departments, teams or individuals work in competition, staff seems to save their data on their own instead of working together. The second reason is that in big companies, employees are often divided into different departments with various specialization. In these situations, information seems to remain in smaller groups and some people may not access the data when they need for work. Last but not least, in some events in which various departments operate by using different software, apps are often used to deliver information. This problem often takes place in hospital systems in which various facilities make use of a lot of electronic health records and can not be shared easily to make sure the care quality.
Data silos have always been a big issue that may ask for some cultural changes yet there are some first steps that you would take in order to deal with this issue. First, you need to identify what processes and systems are now stored in silos. Thanks to this, you can gather data regarding your primary systems and who makes use of them. You should remember that auditing your data will help you go on measuring the security, lifecycle, quality and flow of your data.
It is difficult to share data.
If you have problems with sharing data meaningfully, it will not be beneficial enough for you. Throughout your company, many employees may ask for approach to a wide variety of databases in order to receive the right data they need for working. Data sharing plays an important role to achieve success and sharable data should be stored under the same format, as a standard.
In this case, you should take time to institute a sharing procedure as a part of your data management plan. You need to discuss with your team and ask some questions to learn more about the data that should be shared through departments. The questions would be what data is being generated, who requires access to the data, how the data should be shared and processed, whether the data has private or secret information and how access would be limited or controlled.
If you can be clear about all these questions and find that the data you need to share is stored in disparate systems, you should to seek for a way in order to integrate your tools and streamline the data into only one database.
Data is of low quality and the problem of duplication is often found.
As you may have known, data of low quality can lead to data silo problem for a company. if staff does not think that they can trust the data in their system, they tend to move to using personal tools or spreadsheets to deal with the problem. For instance, in a sales team, missing or wrong contact information may lead to the failure of capturing a chance. It is even more tired when it comes to accounting team that often works with bills and numbers. In this case, you can make use of Formstack Sync in order to merge your data, which is also a deduplication tool working by utilizing a dedupe key in order to deduplicate objects.
Data security and compliance should be concerned
For companies that are operating in Europe, having to deal with patient data, or financial documents, compliance may be the most important factor in their work. Maintaining GDPR< PCI as well as HIPAA compliance would be the most complex problem but it is worth obeying. If you want to secure data effectively, this should be the first thing to be well managed.
Everything may be daunting as first, as always. However, once you can achieve, you can start using your data to make right business decisions as well as improve efficiency.