The world has been consuming data at an unprecedented level. This is a necessity, as it will lead businesses and other organizations to decisions that will make them a fortune. Data collection and analytics will even bring them closer to their customers as they analyze consumer behaviors and demographics. Without a well-organized and accurate data, businesses will be walking in the dark. They are clueless about what their customers really want.
True enough, data is a crucial element that should be included in strengthening business strategies — but not to the point of over-collecting. Everything should be kept in moderation.
However, this is not how the world works. Experts predict that by 2020, the annual data production will have a 4,300-percent increase even when companies are only using a fraction of the data they collect and store. As it suggests, these businesses are spending much of their time, money, and effort into something that does not give them 100 percent beneficial and strategic information.
Instead of hoarding data, they can instead choose to focus on smart data, as the KPI and Big Dat guru Bernard Marr suggested in a Forbes article.
“In the rush to avoid being left behind, I also see that many companies risk becoming data rich but insight poor. They accumulate vast stores of data they have no idea what to do with, and no hope of learning anything useful from.”
To achieve resilient and reliable data that can support the entire organization, Marr added that executives should first define the questions they need to be answered. After collecting and analyzing that data, they can answer the questions which can help them in developing sound decisions.
But what if the business has already collected so much data? And here’s another catch: they are still keeping the data they have collected 10 years ago, believing that they can still put it to good use.
For their case, seeking for the help of professionals is a smart option.
Data cleansing and migration are integral aspects in keeping businesses’ database in good condition.
Data cleansing and migration are two elements that help businesses sort out data.
By definition, data cleansing is the practice of modifying or eliminating errors by using statistical analysis tools which read and audit data according to a list of predefined constraints. As it eliminates unnecessary information, more space is allocated to the data businesses have yet to collect. Keeping only the data that they need helps them simplifies their data analysis.
Data migration, on the other hand, is applicable when businesses need to transport their data from one computer, storage device, format to another.
Some database does not have the same functionality as the ones available in the market today. As mentioned above, there will have a tremendous increase in annual data production. That said, transferring data to a more upgraded one is a smart preparation for that forecasted event.
These two processes are some of the most basic and simplest ways of preventing data explosion. Do you think you need one of these to improve your data management processes? If yes, don’t hesitate to contact us now!