Data makes the business world go round. Thanks to data, businesses can run their day-to-day operations seamlessly and allow for simpler and more efficient business processes. It’s no surprise at all that in 2022 the global big data industry is worth $274.3 billion and that number will only keep rising.
But one thing not many people understand is the importance of proper data management. If you don’t have a data management strategy in place, all of the information you collect will be virtually useless.
There are a lot of benefits of modern data management, and if you want to learn how to create a good data management strategy, you’ve come to the right place.
Make sure you’re compliant
If you live and work in the United States, you need to know about the Federal Information Security Management Act (FISMA). It’s legislation that defines a framework of security standards and guidelines put in place to protect government operations and information.
There was also an act that was introduced to improve electronic government processes and services management known as the Electronic Government Act. FISMA doesn’t only apply to federal agencies, but also to state agencies and companies who work with federal agencies.
Even if you don’t need to be compliant, it’s still a good idea to do so because every organization that is FISMA compliant has strict guidelines in place that ensure data security. If you want to ensure FISMA compliance, you need to take the following steps:
- Categorize all risks based on objectives by order of risk level to determine the appropriate level of security.
- Select the most important and relevant baseline controls that need to be met.
- Use a risk assessment procedure to refine and validate security controls and to determine if any additional security is required.
- Conduct annual security reviews and obtain your FISMA certification.
Monitor all of the security controls you have in place on a regular basis to make sure you don’t miss any security issues or breaches.
Nowadays, it’s impossible to find a business that doesn’t use the internet, no matter how small or big it is. Internet is essential for day-to-day business operations, but with so many different connectivity options to choose from, it can be hard to find one that fits your organization best.
If your business relies on the internet for more than just basic activities such as browsing the web and sending out emails, you should think about getting a reliable solution. And the best option for that is Ethernet.
Having an Ethernet connection can be very beneficial to a business because it’s extremely reliable and it’s also a dedicated connection. That means that only your business can use it and no other parties can have access to it.
You will always have fast speeds which are more than beneficial when you work with the cloud. And the cloud is an integral part of any good data management strategy because it’s the most reliable, safest, and most convenient way to store data and get access to it from any device.
An Ethernet connection is always a smart choice, but if you want to stick to a budget and still have a great connection, you should consider investing in a used Cisco Meraki Ethernet switch. These switches are just as reliable as brand new ones but only cost a fraction of the price.
Think about the quality of your data
It’s important to realize that not all data is the same. If you want to focus only on the data that will help your organization meet its goals, you also need to think about data quality.
Poor data quality costs the U.S. economy up to $3.1 trillion yearly. So if you don’t want your organization to suffer, you need to collect and input the data properly. Before the data is sent out to be analyzed, you need to check everything you’ve collected to see if it’s high quality.
Additionally, you should check the data for accuracy frequently. If you have any old data that has become irrelevant and outdated, you need to remove it from your data management software.
Connect all of your data sources
How much thought have you put into the ways your business processes, stores, and consumes all of the data it collects? While it’s less than ideal, the unfortunate reality for many businesses is that their data management is decentralized without any proper strategy.
If you want to ensure you’re approaching data management with the right strategies, you need to connect all of your existing data sources and create a standardized data architecture. Once you’ve done this, you will see how data management becomes much more simplified.
You will have a better grasp of all of your data and a much clearer picture of what kind of data you’re working with. Furthermore, this will allow you to align your data usage with your business strategy, goals, and plans for the future.
Data is an invaluable source of information that can help you create a business strategy like never before. But unless you have a proper strategy that will help you manage your data and take control over it, all of that data will be useless. So make sure to remember everything you read about here.