Data planning is quickly becoming a top priority in businesses across the globe. Ben Rossi dives into some key components that are making it vital for organizations to manage their data. According to Rossi’s post, there are two main components that factor into this. The first one is the increasing amount of data that is being pulled into organizations for analysis. As time progresses, so does the high volume of data and it is only speeding up as time ticks forward. Large quantities of data and information is a great thing but in order to retain any value from it, it must be managed the correct way.
Organizations are being faced with tougher compliance policies which is requiring more effort in maintaining data for a much longer amount of time. Not only are businesses overflowing with large quantities of data but now must solve the issue of, where can all of this data be stored. Rossi provides the example of large credit card companies. In the past, they were required to keep the data records of all credit card transactions for seven years. But now there has been recent talk of extending that to 10 or possibly more years.
Data planning can have a big positive impact on a company as a whole, but planning is essential to success. The proper planning ensures that things such as cloud storage and prioritizing levels of data for storage within one’s network are all properly set up. Planning out the process and details for proper employee data access is crucial, too. It is important to figure out the limits and accessibility of data for all employees early on to ensure a positive work flow.
So, is it time to take a step back to re-evaluate just how effectively you are managing your data? What plan do you have in place and more importantly, has there been a positive impact on your business?
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