Data Management Challenges and Opportunities in 2019 and Beyond

1. Data Management Challenges and Opportunities in 2019 and Beyond Effective data management ensures accurate data aligned with business goals. For this, data must be digitized with data scanning services. Managed Outsource Solutions 8596 E. 101st Street, Suite H Tulsa, OK 74133

2. Organizations are drowning in various types of data each day and this has led to the rising need for data management in enterprises. Effective data management guarantees that data is accurate, aligned with business objectives and used to drive better business decisions. This can be done only when all data is converted into digital format with the help of document scanning services. Data is an integral part of any organization and it should be streamlined, and changes to data must be managed across the enterprise to ensure data integrity. Market leaders are leveraging their data assets by creating competitive advantage through greater knowledge of their customers, innovative use of information, and improved operational efficiencies. According to researchers at the University of California at Berkeley, the world produces between 1 and 2 billion bytes of data annually. With a solid partnership of business leadership and technical expertise, the data management function can effectively provide and control data and information assets. There has been a significant change in the field of data management and protection with the introduction of regulations such as the (GDPR) General Data Protection Regulation, and the California Consumer Privacy Act. This has led to the creation of many data management challenges and opportunities in 2019. The following are some of the aspects that will transform data management and what it portends for small and midsized enterprises. • More focus on data transparency and data security: Today, almost all companies are handling huge volumes of data and these include valuable information such as customer data, their bank account details and so on. Such data is highly sensitive and needs to be protected. With rising threats of malware and ransomware attacks, sensitive data will be at risk if not protected. Therefore companies are investing hugely in data protection measures. Data protection is not just for data in the company database but also for all data spread across several platforms, applications and social media channels. This calls for data transparency in data handling. All companies must adopt stringent measures and technology solutions to protect consumer data and other critical information. Data security is the prime concern for almost all enterprises and organizations now have new data regulations and protection laws to follow. Data is distributed across various regional and international platforms, and companies are using diverse data platforms including relational, non-relational, and Apache Hadoop/Spark. Since data is stored in multiple platforms and diverse geographic regions, it increases the chances of data threat. It is accelerating the migration of data to enterprise clouds. Voluminous data flow makes on-premises data www.managedoutsource.com (800) 670 2809

3. analysis very difficult for most enterprises. Technologies designed for internal use alone pose challenges associated with lack of access controls and safe default configurations. This offers a golden opportunity for automation of data management that can help simplify the collection, access, storage, and categorization of data from multiple channels and platforms. • Leveraging consumer data without infringing privacy rights: Another important challenge in data management is data governance. When data is moved from one direction to another the regulation and restriction on it become increasingly pervasive. Earlier, organizations would monetize the data consumers provided on the website that is easy to store it, monitor it, and use it when necessary. Some companies rely on consumer data for a living and face various problems with the strict data laws and privacy acts. These companies are already struggling to keep up with the new laws that focus on consumer data protection. In 2019, all small and medium sized firms will find out their offense and defence strategies for any data related issues. • Better focus on consumer experience: For any company, customer experience is very important and to ensure better customer experience, they are focusing on website and application interface and also the implementation of AI and machine learning. They are leveraging their customer database to create buyer persona. This helps them provide the right products and services to the target audience. For optimum user experience, a good user interface alone is not enough; a user should also experience a certain level of comfort and security while working on an app or web. Since user experience is not just about the site’s looks and features anymore, it is creating new opportunities for data management firms. • Data management will unleash the power of Big Data: Big data is not a new concept but only very few SMBs have dealt with it. The ones who have tried Big Data have started looking at data lake concepts. It includes a combination of Hadoop Distributed File System infrastructure, relational and non-relational data stores, event stream processing and others. Big data is huge and enterprises should have more than enough storage space to utilize Big Data. Today, almost all businesses are depending on Big Data and they are looking for inexpensive technologies to extract valuable insights from the data. Data is the base of any business and organizations that recognize the value of data will take concrete, proactive steps to increase the quality of data and information. To manage all data efficiently, businesses can rely on document scanning companies to convert all data into digital format and store the valuable information safely and in an easily accessible manner. www.managedoutsource.com (800) 670 2809