It is common for companies to struggle with the management of their information systems and related databases, especially if they suffer a lack of centralization. Here are the following benefits of centralized data management to illustrate why it is so important for businesses wanting to improve their overall security posture.
Multi-siloed approaches to data management make it challenging to track and secure data interactions. A centralized data platform supports security requirements in terms of facilitating ease of monitoring and controlling data access and allows for the development of data access protocols and procedures.
Security is arguably the biggest reason to switch to centralized data management because it enables your organization to mitigate the risk of mishandling secure data and to regulate and control data access and interaction at all levels.
Having a centralized system focuses support on one product. Having siloed databases, even if they are built on the same platform, will require separate support for each. If you’ve got multiple databases operating in your enterprise, do your utmost in integrating multiple databases into a single system.
Even with a centralized system in place, be vigilant against shadow databases created by users. These shadow databases could be kept in a spreadsheet, an email system, or another database program. Users must be strongly encouraged to use only the centralized system so that key data is not missed or lost.
3. Data Analytics Optimization
Focusing on continual prioritizing while prioritizing those assets that impact growth and success. A centralized data platform facilitates better optimization because it enables continued improvement in decision-making processes and improves tracking and optimization of businesses processes.
Centralized data is a prerequisite for the competitive advantage of any organization. It supports an organization’s need for non-redundant data that provides reliable information that is current and accurate while preventing inaccuracies and redundancies.
4. Data Integrity
Redundancy is one of the enemies of database design. Ideally, no piece of data should ever be repeated within the database. Repeated databases and files compromise the security protocol of your system. Centralized database management keeps your data up to date and accessible to your company. This enables anyone to update vital information for your company.
A situation that creates a data integrity issue is when, for example, an organization operates multiple databases for the same group of people where there’s a separate meeting registration database from the membership database. Having a centralized database means that each member had one primary record, with primary contact information. Therefore, when there is a change required, there is only one place to make these changes.
5. Ease of Training
A shortening of the learning curve for users is another benefit of a centralized data system. If all processes about membership, meetings, products, and others are in the same database, then users will only need one system instead of multiple systems.
6. Financial & Time Resource Savings
The cost-efficiencies and fewer resource requirements of centralized data contribute to more streamlined processes. Among the time and cost-saving benefits are that the reporting of data manipulation becomes faster, which then supports timelier data visualization options. Also, teams are better equipped to strategize, plan, and move forward with strategic initiatives.
Efficient processes decrease the incidence of time crunches and frees up time for the team to shift their energy from everyday tactical tasks to strategic initiatives.
When data feeds are managed in a central repository, an organization is enabled to achieve consistent management and distribution of data through its internal systems. After data is brought into the repository, it can then be scrubbed, validated, and prepared for distribution throughout the organization.
Centralized data empowered teams to be on the same page for consistency and quality control. Additionally, consistency provides value in that teams are better equipped to meet and exceed the customer’s expectations, and centralized data supports greater transparency across any organization. This makes reporting and analytics easier to understand.
Data management has become more critical with the enormous revenue potential and operational efficiencies ties to digital transformation initiatives.
The point of digital transformation is to find answers to the question of how can data be most effectively leveraged to gain a competitive advantage. Ultimately, centralized data supports the automation of tasks, contributes to the reusability of data, facilitates data sharing, and consequently brings about a more productive workflow while minimizing disruption.