As a small business owner, you’ve no doubt heard the saying “your network is your net worth”. These days, it should be updated to “your data is your net worth”!
Data can make or break a small business. By using data and analytics, you can better understand your customers. You can also better understand your business and how to run it more efficiently.
But, to do this first requires improving data management in your company. Are you not sure how to set up a data management strategy to boost your business?
Keep reading to learn more about setting up a data management process that benefits you.
Depending on your business size, you may want to create a designated data management team. If not, you’ll still want to create a group that meets regularly to discuss data management. That’s because the landscape is always changing.
For example, if you want to do international business, you’ll need to be sure you’re up to standard. The EU has set up General Data Protection Regulation (GDPR). Businesses must comply with GDPR when doing business within Europe.
You’ll want to make sure you’re protecting data online. You’ll most likely want to encrypt it as well as password protect it. Firewalls and other security measures may also be a good choice for you.
You want to make sure that you have backups of your data as well. If something goes wrong, you want to make sure you have other ways to access your company’s data.
You can come up with a recovery strategy as part of your plan. Backup options can range from storing data in the cloud with encryption to using a USB stick.
As you store data, you want to make sure you can easily access it. You don’t want to deal with mazes of unreadable files that slow you down. Look at your options for searchable data storage.
For example, at www.kha.com you’ll see advanced search features included. This means you can retrieve indexed data without a fuss. Make sure your data is accessible for those who are managing business data every day.
4. Cloud Storage
One more thing to consider is where you can access your data. If you use a cloud system, you have the option to access your data from any computer or phone in the world.
Cloud storage services are not all created equal. Make sure you check out how often your data will be updated in the cloud. Do you have to manually update it or does it do it following a schedule?
Improving Data Management With a Solid Strategy
When you come up with a strategy, you’ll see results. Improving data management can be a powerful move for your business. You’ll be able to easily and securely access your data.
You can then use this data to beat your competitors and understand your clients.
Are you interested in learning more about tech and business? Be sure to check out our other helpful articles on the site!