[Written By External Partner]
Modern organizations often find themselves relying on large amounts of data. If that data isn’t appropriately cataloged, then errors and inefficiencies can easily creep in. In some cases, this can make the difference between a business being viable and not viable.
Data management should therefore be a major concern, to be addressed proactively. But what does this mean in practice?
Ensuring Data Quality and Accuracy
Validating data, and ensuring that it’s useful, is an essential step. This can be done via a variety of different methods, each of which complements the others.
Data should be stored in a consistent way. The naming conventions used should be the same, no matter which part of the business is filing the data. Data might also be regularly audited, so that inaccuracies and compliance issues can be raised.
Finally, bad data should be excluded. This can often be done automatically, by enforcing file types or value ranges, or by comparing one field against another.
Strengthening Data Security Measures
Online threats can sometimes put your data at risk. You might find that you need to install new systems, and implement multi-factor authentication, to stay ahead of the problem. Proper training, and encryption practices, including small business VPN software, can be especially important – especially when remote workers are dealing with your data.
Fail to take security seriously, and you risk exposing your business to legal and reputational consequences. Make sure that you’re on top of the problem.
Breaking Down Data Silos for Better Collaboration
Even if your data is of the utmost quality, and it’s appropriately protected, it can still trip you up if it’s not being shared properly between the various departments that make up your business.
Data siloing is a problem that can be addressed, in part, through consistent data management, and ease of data access. If your Human Resources department can see the same information that’s visible to your Finance team, then you’ll tend to make better decisions as a result.
With that said, it’s worth balancing this against your data security concerns. It’s often a good idea to limit risk by allowing access only on a need-to-know basis.
Navigating Data Privacy Laws and Compliance
In the United States, businesses must abide by a number of data privacy laws. What these look like might depend on the state in which you’re operating. The California Consumer Privacy Act grants residents of California the right to access and delete their data, and to opt out of the sharing of it. To stay on the right side of the rules, businesses should create policies that drive up transparency and empower employees to flag problems. In the long term, this will help to mitigate your compliance problems, and to build consumer trust.
