Your data management strategy, critical to your operations and business decisions, is incomplete without quality software to collect, store and leverage your information.
Data is the backbone of businesses everywhere. Today, the abundance of data collected by organizations can fuel operations and efforts of many different types – from sales and marketing to financial matters and warehouse procedures. Data is the basis of key decisions and strategies and, with it, companies are better able to justify and support their actions as units.
But first things first: how, exactly, do companies actually access and leverage this data? Digital tools and software play a key role in the process. See how.
What is Big Data?
Simply put, big data refers to huge sets of data, both structured and unstructured. Big data grows substantially every day and comes in many different formats, most often digital. Companies use this data, evaluating patterns, trends, and other important features, to derive insights and conclusions. They then use the information they collect to make critical decisions about their business.
How can software be part of your data strategy?
Software is an essential component of companies' data strategies. Solid technology will enable you to collect, cleanse, present, and gain insights from data. This, in turn, will better inform your efforts and ideas in the future. It will also allow non-technical personnel to better understand what the data sets mean in terms of the bigger picture of your business and broader strategies.
What makes a strong data collection tool?
1. Has clear goals
Before implementing data systems in your company, make sure you have established goals for the software. Which departments will use it? What is the purpose of data collection? What will it be used for? What kind of insights do you want to gain from this? These are questions you should know the answers to as you begin to consider the type of software to create or introduce into your business.
2. Can be integrated with other software
Any tool you introduce, especially those that will affect multiple departments or the entire company , must be compatible with existing software. You will use your data management systems in conjunction with other software. You can also collect data related to your company's tools, such as their performance. In this case, you will need to ensure that they work together successfully.
3. It's scalable
Companies often grow, as do the systems they implement. Your data software must be scalable so that it is able to accommodate new users and expanding data sets. Your software must have the features and flexibility needed to adjust as your business expands – as you grow, so will your data and data sources.
4. It's easy to use
One of the main goals of data management software is to make this critical information accessible to technical and non-technical audiences. User experience is fundamental to a solid data platform. The software must have an attractive, easy-to-use interface and features that are easy to understand for those looking to leverage the platform.
For example, it should present data visualizations – graphs, tables and other forms of visual representations – to make information clear and understandable for audiences of different types. It must also be interactive.
5. It has strong security
The online atmosphere is, unfortunately, full of hackers and other cybercriminals. Some of these cybercriminals are quite adept at breaking into systems and gaining access to confidential data. When unauthorized people manage to infiltrate data systems, it can result in a catastrophe of epic proportions. This is why security is a critical concern.
Data platforms must be built with cybersecurity in mind as a top priority, preventing those who could use your information against you from infiltrating your systems.
6. Allows data cleaning
Data in its rawest forms is often unusable to the audiences that need it. Companies often have large, unstructured data sets that are fraught with problems like redundancies. But a quality data management platform will offer cleansing as a feature, transforming problem-ridden data into more usable information.
In the past, people may have had to clean data manually. But thanks to the magic of software, they no longer have to perform this time-consuming task.
7. It has backup features
With so much data at your disposal, it's easy to lose track of your information — and even lose it completely. This, of course, is the worst-case scenario. To ensure your data is readily available, you must be able to back it up.
Data software will do this by performing regular backups so that information is always available, even if the worst happens and you lose crucial data.
8. Offers real-time insights
Companies don't just need to have this information — they need to understand the data they're collecting as they do it. A great data software platform will provide critical real-time analytics and information, showing you and your employees where they are, how they are doing, and what is happening at any given time. This is especially important for companies that must make decisions very quickly – which, these days, is the majority of them.
Data is an important part of your business. Equally important are the tools you use to collect, manage, and leverage this crucial information. Your data alone won't help you if it's not stored properly and accessible in a digestible format.
Software plays a key role in collecting and managing this important information. In fact, these platforms are essential to your data strategy.
