Data Management Tips Your Small Business Needs to Know.

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Data is such an important part of the modern business world that it is really important that you not only take it seriously but also look at everything you can do to manage it as effectively as possible. Doing so will improve the efficiency of your company, enhance your business processes, and ultimately make you more successful.

With that in mind, here are some data management tips you need to know:

Ensure you are compliant

First of all, you are going to want to ensure that your use of data is full;y compliant with the rules and regulations wherever you are based. If it is found that your business is not completely data compliant, you could be fined heavily or even potentially imprisoned depending on where you are and what kind of breach you have made, so this is absolutely vital.

Make data security a priority

Holding data may help you to gain insights about your customers and make projections about your company, but you cannot have the benefits without having the responsibilities that come with collecting data. That means you need to make your data as secure as possible by encrypting it first and foremost, but also by enduring your IT system has all of the latest threat prevention/detection software installed too. A breach could literally end your business, so don’t let that happen!

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Use additional tools to enhance your data

Collecting raw data can go a long way to improving your business in various ways, but there are certain add-ons like append address services that let you find a customer’s address using the other information you hold on them or software like Power BI that presents your data in more visual and insightful ways, that will help you to improve your business even more. Make use of as many of them as you can and your business is much more likely to flourish.

Back it up

This might sound pretty obvious, but you’d be surprised how much valuable business data has been lost because the company has not bothered to back it up. If you don’t want that to happen to your business, with the serious financial implications it brings, back up all your important data on the cloud, on encrypted external hard drives, and network-attached storage as a minimum.

Train your employees

When it comes to keeping business data safe, something that you absolutely must do is train your staff on the best practices for handling and storing it, as well as doing things like using strong passwords and leaving work-related devices at work, to keep data from falling into the wrong hands.

Organize a regular maintenance slot

By far, the best way to ensure your data is safe, secure, and up to date, is to set in stone a regular data maintenance slot and stick to it. It’s estimated databases, on average will decade by as much as 40 percent annually, which means you’re storing lots of useless information. By maintaining your databases monthly, you can avoid this and be sure you are always using the latest information.

Data matters so manage it right!

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Like Minds is a global thought leadership platform delivering world class events on business development, knowledge and insight aimed at entrepreneurs and business leaders to engage, stimulate and empower them to become global businesses of the future. We also offer a bespoke service for corporate clients and training programmes under the Like Minds U brand. For more information please email bespoke@wearelikeminds.com