With such massive quantities of data being transmitted across the web daily, there is a growing requirement for enterprise data management executed at the highest standard. Most of the data we store is unstructured, leaving little room for insight. Structured data is the term for categorized and tagged information, which can be queried in a database for further analysis and extraction of insight.
As a brief introduction, a proper enterprise data strategy should aim to minimize the amounts of data we store, while simultaneously maximizing the value of the data we retain. Following this methodology will reduce storage requirements and administrative workloads, without discarding the potential business intelligence contained within your data.
An enterprise data strategy should be an integral part of your corporate vision. The policies and procedures that constitute the strategy should be well communicated across the entire business to ensure that all departments are contributing to the overall cybersecurity requirements.
The strategy should offer a solid foundation entrenched in the understanding of your data-related capabilities in the present. This should be coupled with foresight towards sustained adherence with compliance objectives, in the face of growing demands and workloads in the future.
You can boil a solid strategy down into four main attributes:
Actionable – Your strategy should promote the usage of insight and predictive analysis across your organization, to drive growth and influence your overall business trajectory. This could extend past internal use, compiling your data in a way that offers added value to your end-users.
Evolutionary – Once you create the strategy, you must continue to re-evaluate how it performs against business objectives. This constant re-evaluation will help you tweak your plan until you are achieving maximum results.
Integrated – You should proactively assess each new piece of software you plan to implement, thoroughly preparing it for integration with your overall data management system. Unification and centralization of your data management and analytics services will streamline administration, and expedite the discovery of actionable insight.
Relevant – Your data strategy should be hand-tailored for your business, formed around the intricacies that constitute your current work philosophies and objectives.
There are numerous benefits to be had with an effective enterprise data strategy, including:
Improved Data Quality – The strategy will uncover the role your data plays during service interactions with end-users. Understanding the requirements you need to fulfill to enable effective service delivery will make it easier to categorize and filter through information, improving data quality. Internal data stewardship will also benefit, as you’ll be able to reduce inconsistencies and gaps in your data through this understanding.
Reduced Costs – Storage capacity can be incredibly costly to maintain when hosting a database of information. Understanding the value of your data allows you to strategically choose what you store and discard, reducing the number of valueless entries in your system. This reduces the overall size of your database, reducing running costs, and improves querying times as you have less data to scan through.
Modernizing Your Infrastructure And Processes – By moving from legacy applications to modern software solutions, you’ll gain access to more robust functionality. For instance, artificial intelligence and machine learning can automate the extraction of insight from your datasets. Data visualization can lower the barrier of entry to understanding these insights, extending analytics from specialist departments to every member of your organization.
Better Security – By centralizing your information, you significantly improve the overall security of your databases. Using a single source of the truth means you have a single reference point for every program you use. With everything in the same location, referencing the same dataset, you improve data validity and network performance. For data security, you can establish access controls that permit access only to those with authorization, promoting compliance with your data protection policies.
Data is an invaluable resource for any business. Maximizing its potential through analysis is a guaranteed way to improve your understanding of customers, leading to improved growth and business agility.
Trianz is a leading enterprise data strategy consulting firm, with decades of experience building watertight data strategies that promote security and value extraction. We carefully analyze your requirements before curating specialist software and hardware solutions that are guaranteed to give sustainable results.
Get in touch with our enterprise data strategy consulting team, and unlock the hidden potential in your data with Trianz today !
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