Businesses store a huge volume of information – from customer data to potential client data, employee information and finances. With so much data being processed, it is vital to keep it secure and manage it efficiently to make the most out of it. According to Symantec, the average small to medium-sized business holds 564 terabytes of data at any given time. This means that data handling and storage are important to ensure that records and vital pieces of information can be accessed quickly and easily.
Data retention for businesses
Having a data retention policy is an effective way to manage your data efficiently. By monitoring which data you still need and sufficiently removing that which is no longer relevant, you’ll make it easier to retain and use important information. It will also make you aware of the information that you do have, allowing you to work productively.
Utilising data effectively
To increase the efficiency of your data, you’ll want to make sure that you’re able to use it according to specific requirements. If it is easily accessible and simple to categorise, then you’ll be able to make the most of your investment and increase overall productivity. If not, you risk losing out on the value of your data and data may end up incorrectly stored, costing the business money and leaving the business potentially exposed.
Efficiency and security work together
Within your data retention strategy, it is important to also consider the security of your data. You must comply with legal data protection requirements or face considerable fines and long-term damage to your business and reputation. The fact is that having a plan in place to sift out unnecessary or outdated information will not only help you to comply with legislation, but will help you to work a more efficient way as you aren’t sitting on a large amount of irrelevant data.
Gaining a greater understanding of your data
Categorising elements of your data will help you to analyse files and utilise them better. Doing this will create more meaningful data that can be compared, combined or sorted for a specific purpose, also highlighting incomplete records. Setting policies for your data will ensure that your business handles data consistently in a compliant way that can be stored, processed and accessed for maximum efficiency within your company. This also enables you to plan for the future and additional data over time, once a flexible infrastructure has already been implemented.
Trusted data management strategies
Omnis Global is well-known for providing effective information governance strategies to companies including legal firms, government departments and large corporations. For more information about our services, get in touch today on 020 7553 3900.