Data Management Mantras For A Successful Business

Data management is not limited to file back-ups and data storage on the cloud. These functions are simply a part of the fundamentals you ought to know about keeping your data in place, but there is more to it. You must also ensure that your data is safe and retrievable.

Data management systems can be customized as per different business needs as one size does not fit all. But for that you must get familiar with how much and the type of data you possess. You must also know your reasons of storing all of your information. This way, you can determine whether it is better to be leveraging the cloud to store files or you should be focusing on on-site data storage solutions.

Here are the 5 mantras you must follow to the T to sustain and grow your business.

Understand the business value of your organization’s data.

Comprehending the worth of your data will help you decide what your strategy for storage should be, and what policies or protocols you should follow. Asking the correct questions will lead you to useful answers. The questions may be related to–

Whether the data would disappear?
How soon should you have it?
For how long can the data be stored?
What security measures should you adhere to?
How fast should you be able to access this data?

Remain up to date with your industry’s need for compliance.

Depending on the type of industry you and your organization perform in, it is necessary to have a deep understanding of what you expect to remain compliant with selecting data management solutions. Among the industries that are highly-regulated, the healthcare and financial services industries tend to follow strict protocols. Also, companies that are publicly traded must also adhere to specific laws to become fully compliant.

Leave out the data that’s redundant.

You do not need to hold on to every piece of information that is available to you. You can analyze the data,determine which data is worth keeping and valid and which is outdated. Also, take note of the database performance. You can select and save the most reliable data source and discard other bits.

Make sure you have a recovery plan for the data.

What is the purpose of having back-up data when you are not able to recover it if any untoward and unforeseen incident occurs? It is good to have all your business data safe in place, but you must also know what to do in case your expelled data needs to be recovered. You can frequently perform random tests on every week and include an audit team to look into your large pools of data.

Prioritize your data security operations.

Data, at all costs,should be secured. It must be saved physically, virtually and should be encrypted. You never know your valuable information gets leaked out or hacked by a third party. To physically back up your data, you can record on tape and keep it at an outside location. This way if anything happens to the original data, you have the opportunity to recreate the data and the system.

Once you store the data, make sure it can be easily found. Then you can outsource data management operations and analytics to a reliable vendor.