Benefits of data management in business

More and more, businesses need to collect data for analysis and forecasting. As a result of the pandemic, this amount has increased by 56%. But, do companies have the capacity to process all this data? 

According to Forrester’s Data Paradox report, 70% of companies say they collect more data than they can analyse and use. 

A key part of the problem, according to 60% of data managers, is the information silos that companies do not use, which ends up slowing down or preventing us from establishing a proper data strategy. 

Benefits of the cloud optimisation 

At atSistemas, we look at some of the benefits of optimising the data held in these silos and moving it to the cloud. 

Improving storage 

Organisations today are faced with the problem of how to optimise storage space. Different strategies include reducing data silos or establishing more comprehensive control over this data. 

This helps to avoid data duplication, allowing access to information by all employees and reducing the number of copies that employees store on their physical devices. 

Greater communication and collaboration 

Much of the information stored in silos ends up being forgotten by employees, including managers, which can cause a barrier to the development of the organisation’s own activity. 

Cloud storage makes real-time information available to employees so that they can base their decisions on it, allowing them to make the right decisions. It also improves the transparency of the company, as the different teams have information that allows them to communicate and collaborate with each other. 

A good use of information translates into a lever for the transformation and digitisation of companies, which will prioritise data analysis and increase their value and human potential. 

More competitive analysis 

A strategy that allows data to be collected in a structured way greatly increases competitiveness. So much so that 59% of business leaders (according to a study by Deloitte) consider it as a key factor in comparisson to the competition. 

A well-applied data strategy allows data análisis conclusions to lead to more accurate and competitive decisions, being able to be the first to identify the needs and opportunities of the business. To achieve this, it is important that the information is visible to the organisation, avoiding the appearance of silos and encouraging a good migration of this information to the cloud. 

Making 100% use of resources 

It is crucial within an optimisation strategy to opt for technologies that avoid poor data structuring and analysis, regardless of their high cost in the early stages. Otherwise, this could lead to the emergence of information silos. 

Organisations that do not fully use these technologies will be wasting resources, spending a lot of time without clear results and, most importantly, hindering the development of their business activity. 

Cost reduction 

Optimising information from data silos to the cloud means significant cost savings for organisations. 

These savings amount to 40% in software and hardware investment, 31% in costs related to the human factor and up to 80% in energy consumption, according to a Red.es report. It also improves flexibility in employee access to information, as its physical location no longer matters. 

Conclusion 

Data is one of the key elements in the business strategy of organisations, and therefore they must rely on the implementation of technologies that allow them to be more efficient and competitive, regardless of their sector. 

But the strategy must go beyond this. Companies must establish mechanisms that ensure the correct use and renewal of these technologies in order to remain ahead of their competitors.