As your business grows faster, you’ll start to notice the amount of data piling up your storage. It feels scary and overwhelming to deal with that much collection. Without a proper data management platform, your company will not be secured and most likely experience costly risks.
A Signal report stated that seven out of ten marketers have gaps in the efficiency of their technology. This is related to making a view of the customer.
Nowadays, more and more businesses are focusing on data solutions. Infogroup showed that 62% of marketers stated they are investing in data marketing solution and 26% plan to begin investing within two years. Wow! This definitely shows that data management platforms will be the next big step to make your business turn innovative.
In our fictional scenario, we will show how Mark, the chief technical officer (CTO) of Technical Global, was able to handle his challenge of dealing with technology gaps. His team dealt with obstacles that negatively affected their data collection and the security of their software.
What were the other benefits? 3P is here to teach you how this cloud service helped Mark’s team.
Avoids losing your company’s data
Losing data will take a toll on your company. University of Texas revealed 94% of companies that suffered from data loss did not make it. This showed that 43% never reopened, and 51% closed in two years.
You can avoid these catastrophes if you invest in our data management solution. In partnership with Syniti, we offer software that involves automation and artificial intelligence. This system has data migration, data quality, master data management, analytics, and many more. With these aspects in place, you can avoid losing a single data.
Having all of the data in one place will ease the heavy workload by making it easier for you and your employees to find the much-needed information right away. It lets your staff to validate results simply, provides accessible information, and stores reachable data for future reference.
It helps your business become cost-efficient
Data management software plays a huge role in avoiding unnecessary duplication. It ensures that your employees will not conduct the same research again or do work that has already been finished.
Mark noticed that the data is scattered everywhere. He noticed that more data kept coming to his employees to the point where it became too disorganized. This means more copies and more money spent.
Errors in your data can cause catastrophic results. It’s common for businesses to experience issues related to data. According to the Harvard Business Review, three percent of companies’ data reaches simple quality standards. This shows how investing and implementing software that guards your information and operations can save money long-term.
Plays a huge role in decision-making
By having a data management system in place, you and other decision-makers will have quick access to the information that influences decisions. In integrating Syniti’s data management into your business, we ensure clear data governance strategies in collecting, keeping, processing, accessing, and analyzing data. This type of approach will help inform you and other managers regarding the roles, responsibilities, and metrics as a tool for making crucial decisions. .
Avoids security risks
There are multiple risks if your data is not managed. If your information lands on the wrong people, your business will be in trouble. Many companies experienced someone hacking their system.
Having stable data management software will reduce these kinds of risks happening to your company. It is only accessible to authorized users that ensures your data is completely secured. The databases in the software are only visible to exclusive users who use the available data.
More data means more challenge. According to International Data Corporation (IDC), the study predicted that the number of information generated will increase ten-fold by 2025.
You now know why data management is a solution for your business! Using data management software like Syniti helps the journey that involves data assessment, data quality, data strategy, data analytics, and many more.
Do you want your data organized and protected at all costs? Contact us here, and we’ll let you know how we can integrate this innovative software into your business.