Data Management and the Small Business

All businesses need to be as efficient with their resources as possible. You might be surprised by the difference you can make simply by using your data more effectively. Stronger data management platforms, or DMPs, can put you in a better position to understand your organization’s needs, including its market and its customers. It’s time to look at how a DMP can make your business more effective and resource-efficient.

Data Management
If you’re new to data management, you might be surprised to find out that your organization creates, receives, and stores a considerable amount of data that can be leveraged to its benefit. Unfortunately, most businesses have this data not in one single location, but strewn across their entire network. Some of this data might even be found on old servers, in the cloud, or on disk drives.

First, you’ll have to determine what your business’ storage needs are. You should aim to centralize your storage without making it too complicated, all while keeping costs to a minimum. Ferrum Technology Services can help you make the choice that’s best for your business. Once your data is in a convenient location, your data management system will be much more effective.

Data Warehousing
Business intelligence platforms can allow your organization to take advantage of high-end business analysis, but you’ll need a data warehousing solution before you can truly leverage it. A data warehouse is a location where you can run business intelligence (BI) and business analytics (BA) software to improve your business. Innovative software can help you crawl through standing data to discover new trends.

What are BI and BA?
While they might sound similar, BI and BA are two different things. Business analysis is the act of defining how certain strategies and processes work, as well as outlining why they are used. The business analyst will generally identify ways in which these processes aren’t used as efficiently as they could be, or even predict the outcome of a particular situation.

Business intelligence, on the other hand, is using your business’ data to determine what your business is doing, how it’s being done, and the results of such actions. You can use business intelligence to determine metrics for measuring the effectiveness of your business.

Data Backup
Of course, when you have so much data being used in everyday operations, you'll want to make sure it’s backed up. Ferrum Technology Services offers a comprehensive data backup solution that you’re sure to find valuable. To learn more about ways to use and protect your organization’s data, reach out to us at (847) 697-3282.