Effective data utilization is critical to the success of the modern enterprise. Organizations that handle their data management process right, especially with cloud data management, are therefore at a competitive advantage. 

Here are some interesting statistics that illustrate the core role data plays in the workplace. Businesses experience an average 14% data growth rate annually, and 90% of the world’s data has been created in the last two years alone. A whopping 95% of businesses consider unstructured data a problem for their business at a time when automated data management systems are capable of processing data of all types up to 100x faster than manual systems. Noteworthy also is the fact that mismanaged data causes 81% of all data breaches, and non-compliance with data management regulations costs companies an average of $14 million yearly. 

As evident, data has huge implications in the modern workplace, and organizations grapple with many data challenges that can be solved only with a comprehensive data management process.

What Are Some Data Challenges Facing Organizations?

Most organizations face a host of data challenges: 

  • Difficulty handling the immense volume of data generated through business processes 
  • Difficulty in protecting data from loss and corruption 
  • Inability to process data in real time to derive insights 
  • Lack of uniformity in data originating from multiple sources 
  • Incorrect data in the form of errors, missing values, and outdated decisions 
  • Incomplete data that hinders analysis 
  • Siloed data that hinders collaboration across teams 

These and other challenges make handling data nearly impossible without an effective data management process. 

Why Choose Data Management?

Organizations that prioritize data management unlock the ability to leverage their data for empowered decision making based on insights rather than gut feeling. Quality data that has been through the enterprise data lifecycle management process can reveal customer preferences, pain points, and buying habits. Additionally, data analysis helps identify redundancies, bottlenecks, and areas for improvement in work processes. 

Data-driven insights allow organizations to anticipate market trends and adapt their strategies faster than competitors. 

Finally, a process driven by data management, particularly cloud data management, ensures information security and compliance with regulations.

What Are the Benefits of Cloud Data Management Over Traditional Data Management?

The latest trend has been to prefer cloud data management to traditional data management. 

Traditional data management, or on-premises data management, involves managing data within the confines of an organization’s local network. Files, databases, and archives are stored within a company’s hardware systems and IT teams often manually oversee updates, backups, and disaster recovery plans.  

Cloud data management, on the other hand, involves handling data stored on cloud platforms on the internet. This allows for increased speed and flexibility in built-in data integration capabilities like APIs and pre-built connectors.  

Cloud data management offers further benefits for modern enterprises. 

  • Cost reduction: Cloud data management often lowers IT costs by eliminating the need for on-premises data storage and management infrastructure. 
  • Scalability: Cloud data management makes it easy to adjust data storage and processing capacity to meet changing business needs. 
  • Disaster recovery: Cloud-based data backups and recovery plans provide enhanced protection against data loss. 
  • Security: Cloud data management offers increased security as cloud providers invest heavily in security measures to protect data. 
  • Collaboration: Cloud data management facilitates quick data sharing and collaboration among teams and departments.
Benefits of Cloud Data Management - Aspire Systems

How Does Cloud Data Management Help Specific Sectors? 

Cloud data management helps multiple sectors in specific ways. 

Financial services: Cloud data management aids in identifying and mitigating financial risks by analyzing large datasets for patterns and anomalies. Real-time data analysis helps detect fraudulent activities and protect customer assets. Also, cloud data management ensures adherence to financial regulations like GDPR and CCPA by providing tools for data governance and privacy. 

Healthcare: Cloud data management enables real-time access to patient records, facilitating faster and more accurate diagnoses, treatment plans, and care coordination. Securely storing and analyzing vast amounts of patient data accelerates medical research and drug discovery. Further, cloud data management helps healthcare organizations adhere to strict data privacy regulations like HIPAA by providing robust security measures and data governance tools. 

Retail: Cloud data management enables retailers to collect and analyze customer data to offer tailored product recommendations and marketing campaigns. Real-time data on inventory levels, sales trends, and supplier performance helps optimize supply chain operations. Finally, cloud data management helps detect fraudulent transactions and protect against losses. 

Manufacturing: Cloud data management allows manufacturers to analyze equipment data to predict failures and schedule maintenance proactively, reducing downtime. Cloud data management also helps optimize manufacturing supply chains by providing real-time visibility into inventory and production processes. Finally, data analysis can identify quality issues early in the production process, improving product quality and reducing defects. 

Government: Cloud data management enables governments to deliver efficient and personalized services to citizens by leveraging data-driven insights. It helps government agencies protect critical data and systems from natural disasters or cyberattacks. It also ensures compliance with government regulations and data privacy laws. 

What Are the Steps to Creating a Cloud Data Management Strategy? 

Having an effective cloud data management strategy in place paves the way for effective data handling throughout the data lifecycle (enterprise data lifecycle management) and contributes to overall organizational success. Here are the steps involved in creating a cloud data management strategy. 

  1. Identify the objectives: Pinpoint your goals and the data sources you will work with. Outline how digital information flows through your company. 
  2. Choose the right cloud service model and tools: Identify which cloud service provider is best suited for your organization and choose the right service model. 
  3. Develop data processes: Build strong data processes around data collection, preparation, storage, and analysis. 
  4. Establish data governance: Outline standards and procedures that should be followed to prevent data loss, corruption, and breaches. 
  5. Train the team: Train the team on all facets of your newly built cloud data strategy and be ready with responses to expected queries.

Ready to Leverage Cloud Data Management for Your Organization’s Success?

Utilize the full scope of data management, specifically cloud data management, within your organization to boost process efficiency and return on investment. 

Aspire Systems’ data experts are adept at handling cloud data management for modern enterprises and can guide you through every step your organization needs to take. 

Our specialists have expertise in the following areas: 

  • Data consulting and strategy planning 
  • Data operations management 
  • Data visualization and business intelligence 
  • Data cleansing and cataloging 
  • Establishing a data management platform 
  • Documenting data flows and delivering real-time data consistency 
  • Eradicating data redundancy 

Are you ready to step up your organization’s data game to the next level? 

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