“You can have data without information, but you cannot have information without data.”
– Daniel Keys Moran
All businesses rely on data, as it empowers business leaders to make decisions based on facts, trends, and statistical information. With so much information out there, business leaders need to filter and get the correct data to make the best strategic and growth decisions. Data does not just refer to customer data and other externally sourced information. Employee records, reference data, network maps, corporate data, research data, payroll data, and additional external and internal communication are all considered data assets to be managed.
Data management allows companies to access, organize, and analyze the information gathered from various sources. But managing data is not only a matter of storing it but also ensuring its safety without proper data security measures, corporations can be easy targets for cybercriminals and deal with costly and lengthy recovery from data breaches.
In this article, we’ll look at some of the best practices for work-from-home and effective data management, including:
- What is Data Management?
- Data Management and the Remote Workplace
- Data Management Best Practices
The definition of data management is likely to vary for individual business leaders. This is particularly true considering the rise of remote work in recent years, where specific data management needs are now required to support this new reality. Nevertheless, there is a consensus on the basics of data management, its place in an organization, and what it should accomplish. Although some have lauded work-from-home to answer business continuity and cost problems, one cannot overlook the organizational issues resulting from this shift – data management being at the top of the list. You also might have a lot of sensitive data moving outside the office boundaries and across various devices and networks, often with questionable security arrangements with borderless teams and remote work setups spanning cities, states, and continents.
What is Data Management?
Simply put, data management is how an organization compliantly stores and distributes data around its digital workplace. As laws and regulations around data management continue to evolve, associated technologies have become vital assets for organizations worldwide. Establishing a more effective framework for gaining access to the vast amounts of data generated by every business will enable companies to make more informed decisions and improve their ability to deliver valuable products and services to customers.
Today’s business environment relies on all types of software that collect data, including accounting software and customer relationship management (CRM) software. With the ongoing proliferation of business software platforms, businesses can gather data and use data analytics to gain valuable insights. However, organizing that data into a centralized system can be challenging for companies that want to succeed. Therefore, businesses that want to maintain a competitive edge and improve customer-facing and internal business processes must develop a data management strategy.
A business needs to understand the tools at its disposal to implement an effective data management strategy. It’s significant to know that there is no set way to collect data for business purposes, and not all software platforms are the same. Ultimately, the goal of a data management platform is to standardize data to make it practical for business purposes.
The use of cloud-enabled tools can serve to accelerate the development of a data management platform since these tools can empower an organization irrespective of its location. Additionally, data management should standardize the data in a manner that makes it useful for business purposes. Effective data management unifies data silos so they can be helpful when combined.
Data Management and the Remote Workplace
Today, remote work environments have replaced office cubicles and real-time conversations, so employee productivity, competence, and time efficiency are valued more than ever. Data access restrictions have also changed due to the shift to remote work. Since users are no longer connected to the corporate network, bandwidth concerns are more pressing. Hence, organizations need to build more secure and robust networks, systems, and applications to keep pace with this shift constantly.
Increasingly, companies are experimenting with creative ideas to allow employees to work remotely, as workers demand more flexibility. It is fundamental to provide your employees with specific guidelines when working from home (WFH), regardless of whether your company is adopting a completely remote or hybrid work model. Your employees will benefit from greater clarity, so knowing what a work-from-home policy statement should contain and how you can prepare them for success is essential.
To prevent data loss, you need to ensure all your important data is captured and appropriately secured, especially for remote employees. Security policies you have in place at the office might not apply if your employees work from home. Hence you should develop a remote document security policy that specifies how confidential documents should be handled. This helps prevent the loss of sensitive information due to data leakage incidents, where data is exposed or shared because it’s not protected or categorized correctly.
If company data is stored on computer hard drives, it’s a higher risk of being lost or exposed to a breach. This also means remote workers’ data may be missing from the central file storage location. Provide your remote employees with specific instructions regarding where to store files – on the server or a cloud. This central location is included in your backup and recovery strategy.
Data Management Best Practices
Implementing the best practices for data management will help your venture get the most out of its data collection and storage. Some of these include:
- Outline your business objectives
- Implement the correct technology
- Prioritize data protection, processes, and security
- Maintain a team with relevant data management skills
- Frequently evaluate data security policies
When assessing the cost of such measures, companies should also consider the nature of their business. For example, IT firms that deal with confidential data require a higher level of security and more expensive technology than those that manufacture goods.
An effective HR analytics strategy requires more than just collecting data and measuring KPIs; it also involves custom reports that bring it all together. Utilizing the right tools and understanding how to leverage data and interpret it is just as crucial as software that allows experts to visualize information without complex processes.
Global Upside, a Safeguard Global company enables you to centralize and streamline your global employees’ information in one single place, allowing you to easily access all their information efficiently.
Contact us today if you would like to learn more about our business services or have any questions about operating globally.