Impact and Importance of Data in Business

Written By Ayesha Gillani

Business Analyst - Salesforce

Businesses and corporations rely on data diversity. In a world, full of online transactions, either among different or within the same organization across multiple environments – data has constantly been regulating and revolving around change. One of Royal Cyber customers, a leading name in the automobile industry throughout North America, and has a membership-based federation of motor clubs that provide roadside assistance to millions of customers across the United States and Canada.

They were facing issues with their data storage as they were close to exhausting their existing limits. This was a significant call since they were looking to store their existing and legacy data securely. In addition, these data sets have massive impacts on their business intake and overall volume. Royal Cyber offered this customer a solution to help with their Database Archival where the Data can be archived in a way that opens to restoration at any time and ensure it is always backed up.

This blog highlights the data traits that build the foundation for any organization to make decisions and succeed, using various characteristics and features of data that are mandatory to be kept in mind for every small, medium, or large organization.

Data & Change

When handling data, dealing with change management becomes inevitable. In businesses, operating models and application architectures involve using various apps, connectivity, data sets, sourcing, and sinking data, internal and external data travel, keeping data for extended periods that lead to a potential risk for current and legacy data regarding:

  • Maintenance

  • Quality

  • Security

  • Storage Space

The data is less susceptible to loss if it is maintained with:

  • Quality Check

  • Regular Risk assessment

  • Security Meters

  • Monitoring the volume availability and further demand

  • Archival to various protected stores

Data Ecosystem

Every organization has a data ecosystem that is unique to itself, and no two organizations can share the same data ecosystem. Each data ecosystem caters to algorithms, programming languages, cloud computing services, and a general infrastructure used to collect, store, analyze and leverage data. Data ecosystems have a significant impact on the overall value they bring to the business. This is because it guarantees the quality, availability of data and ultimately helps with business intelligence, analytics, and reporting, all of which comprise fundamental business decision-making.

Data Storage & Accessibility

Data Archival helps businesses meet compliance by storing data for long periods and consolidating data for easy access when required for analytics, reporting, reference, or audits. It also provides long-term data retention. In the archived data management system, the information remains accessible while also protecting its integrity. The system also provides secure locations to store mission-critical details for use as and when needed.

Reporting Analytics should be able to access the data from the archives. Archived data must ideally be searchable, capable of being quarried, and pullable into reports. For customer-oriented organizations, both the current and legacy data must impact the overall business with the market.

If the data is readily accessible and available, customer queries can be addressed rapidly. If the data records are stored correctly, it results in exceptional reporting. This helps to serve clients seamlessly, ultimately transforming them from good customers to loyal customers.

Some valuable integrations between Salesforce and an archived store can be provided by third-party applications such as MuleSoft. In addition, large-scale secured data storage locations include AWS buckets, making the unarchivable data possible flawlessly.

Data and Business Processes

Data aids in the improvement and understanding of company operations, allowing businesses to save money and time. Waste has an impact on every business as it drains resources and has an overall negative influence. Poor advertising decisions made through inefficient data have proven to be one of the costliest detriments of a company's resources.

While companies aim to improve customer service and client experience with the help of data, other objectives include better target marketing, cost savings, and greater process efficiency.

Conclusion

Royal Cyber helps customers get the most out of their data, whether it is a digital transformation towards a more manageable data approach or a support package including migration to a more secure environment where the data attributes can be met using exceptional applications and technologies. Contact us and let us enable you to manage, market, and maintain data using unified, integrated solutions and managed support services. This will help enhance growth, earn customer satisfaction by providing timely service delivery, proactively addressing queries, and making result-oriented data-driven decisions.