Monday, 11 July 2016

You can’t Manage what you don’t measure

If you’re in the business which is fairly large, you’ve got some sensitive information to get along with your business. In fact, you possibly have a Big portion of sensitive data spread all over places (internal and external). What you are missing is adequate data management best
methodologies that could help you get to all of that data and take a closer look at it. Doing that just might give business insight that could push your operational performance into a brand new market, or send profits climbing beyond all expectations.
But The big question is here:
  •  which coherent data is relevant to your business?
  •  how it can be retrieve from resources?  
  • Can you access it when you want it?
  • Do you know that it’s accurate, up-to-date, hygienic and comprehensive?
  • Can you easily pull all the data together, no matter what format it’s in or how often it changes?
  • Is your data ready to support business analytics?
  • Most of the time you forgot the basic need before you can use that visualise data, you need to squeeze out potential data first. for that data management exist.

Data management Application = Appropriate Data analytics

So many companies have done data analytics on inappropriate data which is not potential for business growth or any aspect Such as:
Ø  Incomplete Data
Ø  Unstructured Data
Ø  Duplicate Data
Ø  Corrupt Data
Ø  Outdated Data

Until and unless those companies find better option to manage their data, the results of their analytics is inappropriate. So why it’s necessary to manage filtered data which is ready for analytics. Most of the data scientist spent around 50% to 80% of their Model Development time for data preparation.
Here are the few Tips for data management to help your data perform

Be familiar with your industry’s compliance needs.
Depending on the kind of business you’re in, it’s important to have a thorough understanding of what you need to remain fully compliant in choosing your data management solutions.
Example; the financial services or healthcare industry are highly-regulated industries that follow strict rules. Publicly traded companies must follow to certain laws. Failure to follow to the rules could lead to penalties 
 Use the right Data Management Platform for the Right Purpose: 
Choosing random data storage and processing platform does not mean that will give you right data. It’s a massive parallel process of relational, data warehousing, business intelligence & application specific platform for the right purpose and you can create structured or mapped data that gives organization a chance at rapid innovation.
Optimum utilization of old & new data
Ø  Generally, more data means better forecasting, so more data is better when how much data process by your company, with access to more data, it’s easier to quickly fix which data will best useful to predict a visualize result. Nitai Partners Inc helps by offering an appropriate data access methodology that make it easy to work with a variety of data from ever-increasing sources, formats and structures.
Better data collection system with advanced analytic techniques. 
Ø  Nitai Partners Inc delivers cultured statistical analysis abilities inside of the ETL flow such as:

·         Segregation of data       
·         Correlation of data
·         Predictive Analysis of data        
·         Visualization of data

Data scrubbing to improve quality into existing developments.
Ø  Up to 40 percent of all strategic processes fail because of poor data.
Ø  With the help of capable data management system, you can extract potential data & clean inappropriate data. Leads to data performance, better data processing & data binning (Divide data in to smaller groups).
Flexible data management for data shaping
Ø  Preparing data for analytics requires:

·          Merging
·          Transforming
·          de-normalizing
·         sometimes aggregating your source data from multiple tables into one very wide table, often called an analytic base table (ABT).
 Nitai Partners Inc simplifies data exchange with understandable, Visualize reports for transformations. Plus, it lets you use other reshaping transformations like frequency analysis, appending data, partitioning and combining data, and multiple summarization techniques.
Share metadata across data management and analytics domains.
A common metadata layer lets you consistently repeat your data preparation processes. It promotes collaboration, provides lineage information on the data preparation process, and makes it easier to deploy models. You’ll notice better productivity, more accurate models, faster cycle times, more flexibility, and auditable, transparent data.

Always prioritize data security.

Data must be secured, both virtually and physically as well as encrypted, just in case your information is hacked by unscrupulous third parties. One way to physically secure data is by backing up data to tape and housing it in an outside location, so that in the case of force majeure, it’s possible to recreate the data or the whole system, as needed.

Make sure your stored data can be found once it’s in storage.

Don’t bury your data under piles and piles of archives or elaboration encryption methods. While security is important, it is equally vital for you to be able to easily search the data and get correct information instantly, especially in urgent situations like in an event of a litigation or some other proceedings that will require accurate data given in a timely manner.
Have a data recovery plan:
What use does your back up data have if you’re unable to recover it when the unforeseen strikes? It’s not enough to have your business data securely in place, you should know what steps to take when the need to activate your data recovery methods takes place. Do regular and random testing, ideally on a weekly basis, and also include an auditing team to take a look at your data pools.

Outsource your data management activities to a reliable vendor

Doing so allows you to focus on your business’s core competency while experts in data management solutions take care of your data storage needs. Hiring an offsite expert like Nitai Partners Inc is a cost-effective means of keeping your data safe and secure because reliable vendors take the time to know the latest technology and compliance updates and apply these solutions to your business. A good data management outsourced solution can also give you expert advice on the best course of action to take.
Having accurate research is crucial in devising various marketing and advertising materials for your target market, while taking into account their needs as well as the advantage of your competitors. We can help you come up with comprehensive strategies through our extensive research services, which are carefully tailored for your immediate business concerns. Learn more!

Data: The foundation for decisions

Analytics may be one of the hottest IT topics around these days – it is, undeniably, very sexy technology. But as you dream about the magic of analytics, remember this: Underlying analytics is data. Don’t underestimate how important it is to do your data right.

No comments:

Post a Comment