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updated 10 months ago

What is the first step you should take in managing data for a firm?

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2 Answers
updated 1 year ago

The first mistake an organization can make to manage big data is buying additional storage capacity every 6 or 12 months, which results in enormous costs and making IT team to spend more time on data management, rather than on strategic initiatives.

Therefore, organizations must find smarter data management approaches that enable them to corral and optimize their data efficiently.

Big Data causes three main challenges: storing, processing and managing it efficiently. Scale-out architectures have been developed to store significant amounts of data, and purpose-built appliances have improved the processing capability. The next frontier is learning how to manage Big Data throughout its entire lifecycle. 

The first step to take here is to bring the data down to its unique setting and reduce the amount of data to be managed.

updated 1 year ago

One of the most important things in the entrepreneurial activity is to control the internal and external data. In fact, in modern life, every business becomes a data business. The company’s ability to achieve success is measured by the ability to manage data.

Nowadays more and more businesses buy special software and expensive packages to analyze the majority of data. Such programmes are advantageous for enterprises, however, creating a data and analytics strategy in the first place sounds like a better plan.

The most essential thing in doing your business successfully is to identify the necessary data. Instead of drowning in data, trying to handle all the information, the company needs to understand the main purposes and what kind of data can help in their achievement.

First and foremost, you need to conduct a research on a number of issues like the perspectives and risks, the appropriateness of business, the practice of the competitors, the technical details of the produced product, etc. Also, the prioritizing of the collected data plays an important role. If you identify the most influential factors of business success, it would be easier to achieve the goals.

Only after choosing the best strategy, the company can go on searching for the methods of data sourcing and gathering.

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