5 Harvard-Recommended Ways to Improve Data Management for Your Business
Data is the most valuable asset an organisation has today. However, what sets data aside from other valuable assets (which, like musgravite, tend to be scarce) is its abundance. The more digital our world is, the more data businesses produce. The more data they produce, the more powerful the business effectively becomes. However, the issue with the overnight profusion of data is that it becomes increasingly difficult to manage. Traditionally, organisations would store data in numerous locations, but as the sheer volume of it grew, this quickly proved to be too many plates to spin. Thus, companies needed an alternative, and they found one in the cloud.
The perks of cloud data management
The cloud is an undisputed enabler of flexibility, agility, and innovation. For data in particular, cloud has proven to be the remedy to many enterprise data challenges, allowing them to get closer to the aforementioned trifecta. Cloud data management enables organisations to store their data off-premise, usually via another vendor that is dedicated to cloud data hosting. In doing so, organisations can access their information from anywhere at any time, but in one place. The flexibility this enables is evident. In fact, it is especially relevant today in light of the remote working boom that has come with the COVID-19 crisis. The capabilities of public cloud computing in particular has made the overnight shift to remote working a lot easier. Lockdowns aside, cloud also enables businesses to take advantage of automated backups and heightened data security. Granted, it may seem counter-intuitive that sending your data off-premise is safer than having it within your corporate firewall; however, modern cloud data solutions employ more advanced cloud security measures – it is their speciality after all. Cloud is also notable for its scalability, up and down, which businesses can take advantage of as and when they need it. Thus, you only pay for the storage you need, saving you money in turn.
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