How To Handle Exploding Data
We have written in the past about how data can be used to advance the greater good, for medicine, or to improve your business. Data can be used in so many ways because of the sheer volume we produce on a daily basis. Recent technological advancements have allowed for the collection and storage of the massive amount of data we generate. Exploding data is one problem businesses, large and small, face when it comes to preparing for an uncertain future. Larger companies have the resources to deal with the large amount of data they generate; but what can smaller business do to prevent data overload and position themselves to use their data in a positive way?
6 Ways You Can Handle Data Overload
As with most things in life, the best way to deal with data overload is preparation. Creating a plan for the collection, storage, and ultimate usage of your data sets you up for long-term success. Here are six steps you can take to implement a data plan for your business.
- State a goal for your data plan. Be clear and open on why you would like to develop a data plan. Doing so ensures everything you do with respect to data is in line with your stated goal. Stating a goal also helps create buy-in from the front-line employees, which you most likely will need at some point to implement and manage a new data plan.
- Determine the data to use and the data to ignore. Depending on your goal of your data plan, not all data is created equal. For example, if your primary objective is to determine which sales reps are performing the best in a given time frame, you would collect data relevant to sales during that period of time instead of data relating to inventory.
- Develop a plan to collect and store data. Knowing the data you need to collect is a start, but how you collect it will determine success or failure. In the example above you would need to determine a system to collect the sales info for each sales person in the allotted time frame. Then you would need to determine the best way to securely store the data for future use. Depending on the amount of data, its sensitivity, your resources, and your needs, this could be an on-premises or cloud solution.
- Create a reporting system that allows you to transform data into insights. Now that you know what data to collect and how you are going to collect and store your data, you must determine the best way to transform the data you've collected into actionable insights.This means developing a set of reports which puts the data into a context people throughout your organization can understand.
- Periodically review reports and determine what, if any, changes in your operations need to be changed. For lasting success, you must continually review your reports and analyze your data to determine what improvements can be made to achieve optimum results. Use your reports to measure the effectiveness of your improvements.
- Update your data plan on a regular basis. As your business grows, its needs will change and evolve. The plan you have for your data today might not be sufficient for your business tomorrow. Review your plan regularly and make changes to it as needed to ensure it aligns with your overall business strategy.
Creating a data plan will help you determine the best way to use the data your business generates every day. The Solution Seekers at Datalytic Solutions can help you create a plan that fits the needs of your business, and they will stay with you to ensure you can use the plan to help your organization grow and thrive!
Exploding Data Is An Advantage Not A Problem
The more information you have about your business, the better you can make decisions about the future. Learning how to utilize your organization’s data can position your business for success both in the short and long term. Contact Datalytic Solutions today to find out how our team of Solution Seekers can help you implement a data plan for your organization!