Data Management

Does Data Management Have to Be Expensive in Order to Be Effective?

Published On November 27, 2012 -   by

People generally believe that expensive means better. Sure, this might be true for products such as clothing, CDs, and DVDs, where paying the full cost for an original item is always smarter than trying to save a few bucks and opting for the fake, cheap knockoff.

But, does expensive necessarily mean better when it comes to data management? Do you really need to spend thousands of dollars to get decent data entry, form processing, or document formatting services? Should you buy your own software and learn how to use it to avoid the expenses of hiring a specialist?

Data management costs may vary greatly; there are more available options with every passing day, some more expensive than others. However, this doesn’t necessarily mean you’ll have to spend thousands of dollars to find a decent data manager. Here are a few things you should keep in mind when looking for a solution to manage important data from your business:

Your budget

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The word ”œexpensive”� can sometimes become a relative term ”“$2,000 may sound like a lot of money when your budget is merely $20, but not so much if your budget is $200,000. If you have a business, and require software or someone’s services to help you manage data, KNOW how much you can spend before driving yourself out of business.

Your needs

Figure out what your business REALLY needs. This is vital to make sure you’re not overspending! Just because something is expensive, it doesn’t mean it’s the best fit. Work with your IT department (if you have one) or contact a professional consultant if necessary, but DON’T spend money to buy something before you know where your money is going and what you are getting in return.

Outsourcing VS Doing It Yourself (DIY)

If you decide to do things yourself, measure the costs of buying the software and proper training materials against the costs of having someone else managing your data for you. If you DIY you won’t have to spend more money to have someone else do it for you, but it will add to your daily activities, and will take more of your time. However, if you outsource these tasks, you’ll have to absorb the costs, but you’ll have more time to focus on actually running your business, leaving the technicalities in the hands of professionals.

Regardless of the data management solution you think is best for you and your business, make sure you’ve done plenty of research before making your choice! It’s important that you consider all your options before making any rash decisions that may cause you to end up with thousands of dollars’ worth of obsolete software ”“or contracting the services of overqualified specialists to perform simple tasks that you could do yourself. Effective data management doesn’t necessarily need to be expensive”¦ it’s all about finding the right match!

– Data Czar @ DEO

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