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What Is Data Management and Why Is It Important?

 

What is data management and why is it important? Blue-Pencil has the answers – read on to learn more and contact us today to start reaching new heights with efficient record management solutions.

What is data management?

Blue-Pencil Information Security defines it as the administration, secure access, retention, and disposal of all of your company’s records. Businesses of all sizes produce a vast array of data in today’s digital world, and knowing what, why, when and how to retain or destroy vital information can be a major challenge.

As NGData notes, “To make sense of the vast quantities of data that enterprises are gathering, analyzing, and storing today, companies turn to data management solutions and platforms. Data management solutions make processing, validation, and other essential functions simpler and less time-intensive.”

Techopedia defines data management as “an organization’s management of information and data for secure and structured access and storage.”

Unfortunately, ineffective or improper data management methods can lead to serious problems such as information leaks, lost tax information leading to failed audits, and cybersecurity attacks. Additionally, ineffective data management costs companies 12% a year, or on average $120,000 annually for a company with $1M in sales.

 


Keeping your data organized and safe will help your business thrive while also protecting it from potential security breaches.

 

Effective record management can help your company grow

Acquisition of data is important because it allows companies to access and store information that it will need to better understand customers, internal operations, and employee performance.

In other words, effective data management can help everyone in your company to be more productive. Your employees will be able to find and understand information they need to do their job effectively, and can easily validate results or conclusions they may have.

Easy retrieval of data is important because it allows your company to access and store information that it will need to better understand your customers, internal operations, and employee performance.

It also provides the structure for information to be easily stored, retrieved and shared with others. Easy access information, for example, enables us to take action significantly faster than companies who have poor data management and data sharing systems.

example business data

Effective data management can help everyone in the company to be more productive.

 

Keep your business safe

Cybersecurity threats are becoming more and more common. Small businesses aren’t immune to these threats – quite the opposite actually.

Smaller businesses are often more vulnerable because they do not have the know-how or security practices in place to prevent attacks.

Since all companies, both big and small, can be subjected to these threats and attacks, it’s important to prepare. This is where data management comes in. You should know what to do in case of an active threat, who to call (third parties equipped to deal with attacks), and how employees should proceed.

Being prepared in case the unexpected occurs will give your company a much better chance of protecting your important data.

On top of that, losing your data due to user error can seriously hinder your company. It can take days, if not weeks, to get your system up and running after failing to save and backup your important information.

This infographic helps to expand on the importance of data management:

 

 

How a data management service can help

When you store your physical documents in a secure facility, professionals label and code each box or record. You help determine the level of detail per box or even per file to make it easier to locate. You can request a physical retrieval if need be, or have the documents scanned and sent electronically.

The same access is used to get rid of data. If your retention period is approaching its end, alerts are sent through the system; and authorization can be provided to securely destroy the data so you can be sure you are compliant and running an efficient and cost-effective records management system.

Blue-Pencil’s online portal allows you to centrally manage your records management program right from your desktop or laptop. Whether you are using long-term document storage, active file management or shredding services, Blue-Pencil gives you the control to place service requests, locate records, order copies, run inventory reports and much more.

 

 

Trust Blue-Pencil for the best data management

Blue-Pencil helps empower Canadian organizations to reach new heights with friendly and efficient document management services.

Customer service is not only a slogan but something we practice by investing in our strategic partners.

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“Blue-Pencil is reliable and efficient. Their customer service is the best in the industry!”

– Carrie Postma

Read more testimonials here!

Located in Oakville, we have grown our document security business over the past 10 years. We serve more than 6,000 organizations, including small and medium-sized companies as well as Fortune 500 businesses.