Using data to learn more about consumers and your industry is crucial for the long-term success of your business. Studies show that over 95% of the businesses in the United States have a need to manage unstructured data. Simply collecting data without organizing and managing it is a bad idea. Unorganized data will be useless to your business which is why finding out about and embracing modern data management trends is so important.
While most business owners use data management tools to do things like verify email addresses, many of them fail to realize these same tools can be used on their unstructured data. If you are trying to find a way to manage a bulk list of email addresses that need to be verified, try these tools and services. If you are attempting to manage your unstructured data, consider the useful information below.
Adjusting to New Data Regulations Can Be Difficult
One of the main concerns you should have when managing the data of your business is to stay compliant with the laws placed regarding data. The California Consumer Privacy Act has gone into effect in 2020. These regulations are good news for tech-savvy consumers but are causing a major disruption to business owners using traditional marketing methods.
Instead of getting fined as a result of not complying with these new regulations, you need to audit your existing data collection and management procedures. Failing to properly protect the sensitive data you collect from consumers will not only damage your reputation, but it can also lead to large fines from the government as well. This is why you need to dig deep into your existing data collection and management strategy to ensure there are no loose ends that need to be tied up.
The Rise of Streaming Data
Staying on the cutting edge of technology is crucial for business owners trying to get ahead. If your main goal is to monitor data in real-time, then you need to embrace the power of streaming data. This data will have to integrate into your analytics and reporting systems. By doing this, you can review in real-time the behaviors consumers are exhibiting on your website.
While integrating real-time streaming data into your existing framework may seem like a straightforward and easy process, it is anything but. If you are using a legacy system like IBM to power your existing mainframe, you may hit a brick wall when trying to integrate streaming data into this system. Allowing IT professionals to audit your existing data management infrastructure can be helpful. The information from this audit can help you figure out what changes need to be made to facilitate the changes you want to make.
Scalable Data Platforms
In the past, business owners had to build their own data management systems and power them with onsite servers. Not only was this process extremely expensive but it was also an unreliable way to handle such a task. Over the past few years, cloud-based data collection and management systems have become increasingly popular. Platforms like MongoDB and Azure Data Warehouse are revolutionizing the ways business owners collect and use their data.
One of the best parts of using a cloud-based data management platform is the scalability they provide. If you see a dramatic increase in the number of customers you serve, you can easily scale a cloud-based data management system to meet these needs. When experiencing this growth with an outdated onsite server powered system, you will have to spend a lot of time and money to scale your production. Not only is cloud-based data management easy to alter, but it is also very affordable. This is a piece of great news for business owners who want to use the latest data management tools but want to avoid large overhead costs. Before choosing a cloud-based data management platform, you should consider things like price and the level of security being offered.
Instead of using outdated tools to manage your company’s data, you need to step into the future. The longer you use these outdated tools, the harder you will find it to stay competitive. With the help of IT professionals, finding and implementing the right data management solutions will be easy.