Many companies depend on data for their survival. However, when that data is compromised, it can put your business in danger. In 2018, 46% of businesses experienced data breaches. That’s why it’s important to ensure that the data your business acquires is properly stored and protected. So, what do you do when you have outdated data, or your business suffers from a cybercrime attack? If unprepared for such an instance, you must step up your business’s data management strategy. Fortunately, it’s not as complicated as it might sound. This article will help you find the best ways to improve your data management system and help you use data to boost your business practices.
- Create a strong data cataloging system
Since your business depends largely on data for its operations, it must be easy to find. A strong data cataloging system will help you better manage and apply your information to your business decisions. It’s best to create a filing system that is not only user-friendly but also easy to find, even for new users. You can develop a standard naming format using the YYYY-MM-DD system. For example, you can create separate folders for different aspects of your business. To make things much easier, you can use color codes to identify various folders. You must also ensure that you don’t store unnecessary and unrelated documents.
If you have paper documents, ensure that you make digital copies of them to make sharing easier, and also make sure you have backup documents.
- Data storage options
As your business expands, so does your data. Therefore, you must consider your storage options and if it’s big enough to store all the information you gather. Fortunately, tons of storage plans work best for your business. There are tons of storage options worth considering. Asides from your work computers, you can also store data on external hard drives or networked drives. However, to ensure that your workers have access to the data they need at any time and place, you can invest in various cloud storage solutions for small or larger business sizes. Depending on your locations, you can run an online search for suitable vendors. For example, a business located in Frankfurt can run a search like ‘Microsoft Azure für KMUs’ to obtain helpful results.
- Establish a data management team
It would be best if you had a solid data management team to ensure that your data is always updated and accurate. It also helps with accountability, as there would be someone responsible for ensuring that your data is protected from any cybersecurity attacks or data leaks. If your business can afford to, you can build a small data management team headed by a chief data specialist. They would have the skills and know-how to handle your business’s data and ensure that the best data-handling principle is adhered to.
As businesses continue to collect data, managing it can get challenging. However, these great tips will better prepare and equip you to handle the large volumes of data your business generates. Ensure that you take your data management system seriously, as it can give you deep insights into how you can expand your business and help you make better decisions and strategies.
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