A whopping 83 percent of businesses say data is an integral part of their strategy. However, 69 percent say that inaccurate data interfere with their efforts.
If this sounds familiar to you, better data management is a must. Not sure where to begin?
Listed below are some of the latest data management practices you should start using as a small business owner.
What Is Data Management?
Data management involves secure, efficient, and cost-effective data collection, storage, and use. Businesses need to manage several different types of data, from customer data to marketing analytics.
Data Management Best Practices
Data management helps people and organizations optimize their information and make decisions that benefit the company. The key to seeing these benefits, though, is using the right data management practices, including the following:
Appropriate File Naming
A key component of effective data management is being able to find your data. What good is it if you can’t locate it?
To help with this, create a standardized process for naming files. This makes it easier for you and your team to search and locate what you need.
Proper Metadata
The term “metadata” refers to the information that describes the data you’re using. Your metadata should contain details of the data’s content and structure, as well as permissions.
The following are some key pieces of information to include:
- The data author
- Specific data the set contains
- A description of fields
- When and where the data was created
- Why and how this data was created
Make sure everyone on your team knows what to include so you can establish uniformity across the organization.
Proper Data Storage
You can store data on all kinds of platforms, from desktops to external hard drives to the cloud.
Decide where you want to store your data. Ensure all team members know which storage options are and aren’t allowed, too.
This reduces the risk of files getting lost. It also prevents them from falling into the wrong hands.
Asset Recovery
Your data management program should also include an asset recovery process.
Asset recovery keeps your data secure and out of landfills. This increases security across the board and saves you from having the handle these tasks manually.
Data Management Software
If you’re feeling daunted by the concept of data management, invest in data management software. This software helps you to keep track of your data, as well as establish a clear process for naming and describing it.
Look for data management software designed for businesses like yours. Be sure to dig into the security features and asset recovery features, too, to ensure you’re investing in one that will keep your organization protected.
Try These Smart Management Practices Today
It doesn’t matter what kind of company you run. Proper data management is a must when it comes to effective business ownership and management.
Keep these data best practices in mind so you can set your company up for long-term success.
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