The difference between a successful, always innovating company and a struggling one that is being left behind is how they use data to support their business decisions. In fact, Gartner says that top businesses in any industry are using data and analytics to gain an edge over their competitors.
What’s more, these businesses are not only using data to usher in their digital transformation, but they are also taking steps to ensure data accessibility for all departments and team members. But how do you facilitate data accessibility?
The short answer is: You should have a data management strategy.
Most companies view data management as an afterthought. Others have the mistaken notion that data will only take away their time and resources as they continually gather, analyze, and store huge amounts of data day in and day out.
With a data management strategy, the way you view data changes. Data management becomes an important priority for your organization. As such, you will have an individual or team that is responsible for creating and implementing effective strategies and policies to manage your data.
But what is a data management strategy exactly? According to Tableau, it’s your company’s roadmap on how the organization will use data to achieve your objectives, goals, and targets. It guarantees that the collection, analysis, storage, collaboration, and just about any activity that has anything to do with data and its management, flows smoothly and effectively. An effective data management strategy enables companies to derive actionable insights from their data, while also streamlining data governance.
Having a management strategy can help you sidestep some of the most common challenges when it comes to data, such as:
- Doing things that consume valuable resources and time but are not really that beneficial to the business.
- Duplicated, missing, or incompatible data from a variety of sources.
- Data silos, which make it difficult to share information from one department to another, with unnecessary costs and efforts expended on the same data.
If you’re ready to start getting more from your data and leveraging it to gain a competitive advantage, you need to ensure data accessibility. In this article, we’ll discuss five ways to make your data more accessible to every department.
1. Identify what your business needs are and how data can address these issues
To have a good data management strategy, you should first identify your organization’s objectives. With the influx of data, it’s very important to know your business goals and continuity plans so that you will know what types of information and insights are needed to meet these objectives.
Then you should create effective data processes that will involve methods to collect, prepare, analyze, and store data.
- Collection processes include identifying your sources, which will need access to data, and the use of structured or unstructured data. You will also need to know how the data should be collected and whether you will be extracting data manually or not.
- Preparation includes how you’re going to work on your data to make it ready for analysis. You will also need to know how to determine what data is incomplete or disparate, as well as put systems in place to name, document, and other categorization and organization tasks related to handling the data.
- Data analysis threshes out how you’ll allow users to access and analyze the data that your company maintains, as well as how to communicate insights to those who need them.
- Data storage addresses how your company keeps data, such as using relational databases or other file formats for structured data, coming up with data lakes for unstructured data, as well as how you will secure data when it’s not being used (known as data at rest).
2. Find the right technologies
When determining what your company should do with all the data that it generates or receives, you need to identify tools and technologies needed to carry out each process. Choose the right software and hardware to carry out your plans. – Read more
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