3 Factors for Successfully Capturing the Benefits of Data Management

Enterprise data contains huge growth potential which can be extracted by managing it in three steps

The volume of data that enterprises generate, affords a number of opportunities. Data has the potential to transform businesses.

According to the report, ‘Realizing the Power of Enterprise Data’ by Veritas Technology, to unlock this value of data enterprises need   a strategy for data management alongside technologies that integrate with this platform to deliver it

Factors can help realize the productivity, profitability, and efficiency of strategies leveraging data are:

Also Read: Top Four Trends in AI to Look Out for in 2023

Cultivate a Strategic Mindset: For organizations, it is a strategic decision to decide on the way organizations want to integrate all the necessary data management capabilities together. It has to consider    how the data will be managed throughout its lifecycle, and this conversation will include protection, classification, provisioning, analysis, and archiving data.  This requires having an appropriate budget for investing in data management technology, and taking a structured and a phased approach.

Adopting the Right Technology: One of the biggest opportunities for enterprises is embracing a centralized strategy for data management. This would include a technology stack which is flexible enough to accommodate different types and generations of infrastructure that can migrate data from the data center to the cloud. According to the Veritas report, 43% IT decision makers agree that adopting the right technology is a key success factor for realizing the benefits of data management.

Also Read: Infobip to Launch Regionally Restricted EU Data Center

Managing Data with Data: The next step in using a strategic approach is to consider managing data with data, that essentially involves  an integrated, three-step process:

• Classifying data: This helps the enterprises understand what they have, where it is located, who is using it, the number of copies that exist and also whether it is valuable or not.
• Enabling policies: Organizations can use the insights gained from data classification to understand, protect, and maintain their data.
• Automating: Within every petabyte of enterprise data, there are roughly three billion files—it’s beyond human capacity to manage it, but with the use of Automation, through AI & ML, there is a way out to unlock the capabilities of the data.

These steps will help the organizations cut down costs and extract more value from their data and lead to harnessing the extraordinary opportunities for business growth that it presents

Check Out The New Enterprisetalk Podcast. For more such updates follow us on Google News Enterprisetalk News.