Times have changed and money is no more the MOST valuable asset. Data has replaced it on the priority scale. However, most of the businesses fail to invest the kind of attention it actually deserves. They continue to follow the traditional methods of recording and storing data, unaware of how it can impact your organization.
Here’s a quick statistical look back to help you comprehend the measure of effects bad data habits can cast on your business: Inaccurate data impacts the bottom line of 88% of businesses, with the average company losing 12% of its revenue as direct results.
Now since the data is not readily available, employees drain their working hours searching for information and it is as much as 19.8% of the total time. This is almost equal to a day every week.
Be honest, can you afford it? And trust me, if you stick with the attitude of ‘things have always been this way’, the potential damage is just going to multiply. This is why it is important to be daring enough to break through the age-old data habits and make way for the updated ones. Of course, it is not an overnight event, but a process that will cost you both time and effort. Here are some tips to help you through the journey.
Everyone needs to be educated
You see, at the end of the day, you all are a team and if you wish to achieve your long-term goals, each member must be on the same page. This is why it is important to convey the message of how important it is to maintain accurate records and healthy data habits. If you inform them about the purpose, they will follow the requests and new processes readily.
For instance, people working in the customer service department need to know how recording and maintaining detailed information of clients and customers will help them in the near future in the form of quick access to the query, immediate service and much more
What are your needs when it comes to data?
How will you move ahead if you don’t know the directions to your end-goal? This brings us to our next point, which when broken down means defining the data needs.
Reckon what kind of data will prove to be useful and in what ways. Anticipate your customer needs beforehand and segregate your data accordingly. Identify how you will go about recording your data and report it. Lastly, ensure that all your stored data is easily accessible to all the members of your organization. Need and crisis don’t come knocking at the door.
Introduce data quality standards
Quality standards are not only important for your business as a whole but are also advantageous to all the sectors, individually. So, you need to implement quality standards that involve a detailed introduction of various data policies. It must also talk about the procedures and methods so that everyone in the organization is equipped with the required knowledge on how to record it and where to store it.
Don’t forget to introduce reviews
No human is perfect and even after adopting so many strict measures, some of us still make mistakes. Remember, to err is human and you are not a machine either.
Until these mistakes are immediately sought after and cleansed at regular intervals, it will work just fine. All you have to do is include regular and simple checks and reviews in your timeline. In case, you wish to seek an expert layer of security, you could consider hiring a Chief Data Officer.
Pick the right tools
Today technology is advancing at a rate faster than any of us could ever imagine. You can do literally everything at your fingertips. The reason why it is extremely important to invest in the right kind of tools. Make sure your system is deeply integrated so that you can access data from one location.
Remember, everything is readily available and if you compromise on tech, it can give your competition a lead that will be very difficult to surpass. Make a list of the tools, each with its pros, cons and required investment. You can start from here: Stillio is an amazing nifty tool that will help you preserve websites in an archive. Learn how Stillio helps you process web archiving here.
Most of you are guilty because you weren’t aware of how bad data habits can impact your organization. But, now that you know, it’s time for you to initiate a change with the help of these tips.