How Data Entry Outsourced Deals with Data Proliferation Challenges
Data Proliferation is increasingly becoming a concern for all businesses, both large and small. The industry that is most affected by the voluminous growth of data is, without doubt, the large data center firms. Data growth is usually linked to increased costs of software, hardware, administration and services, and associated maintenance. Even though digital storage has become cheap, all related cost for data management, structuring, and extraction has gone up with data proliferation.
Hence, although the cost needed to store a unit of data has reduced, the prices of facilities that house the digital storage and the cost involved in employing the skilled support staff have increased manifolds. While there are quite a few companies providing solutions to data proliferation, Data Entry Outsourced (DEO) stands out since it implements structured data management and focused data proliferation solutions to help companies overcome the challenge faced by increased data growth.
Data Proliferation – What Is It and Its Significance to Industries
Data proliferation takes place when there is rapid data growth. The negative connotation to it is that the term is used mostly to describe data that is of low quality. These data are not only expensive to clean up, but also challenging to handle and govern. They can pose serious operational risks providing insignificant or no value to an organization. However, they cannot be discarded without proper analysis of its structure, uses, and sources.
Listed below are the significance and implications of Data Proliferation problems on four prominent industries:
Research survey indicates that data proliferation leads to several complexities in the IT industry, few of them being:
- Additional cost to companies as organizations need to add more storage management tools in place of more efficient and better-centralized management.
- Employees requiring multiple products to manage secondary data.
- Workers having to handle multiple copies of the same data.
- Organizations required to store data on different clouds.
The volume of data generated by medical technology poses severe challenges for the healthcare industry, few of which have been listed below:
- Medical images are huge and occupy more space. The space needed by these images is slowly exceeding the industry’s current storage capacity.
- Data analytics require the right amount of data storage capacity, reliable cloud access, and a low-latency network to acquire the clinical value from these vast data pools.
- High cost to invest in a higher capacity storage software system
The hospitality industry, like all other prominent industries, are facing big data disasters and are forced to look out for workable data solutions. Listed below are a few challenges faced by the hospitality industry:
- On-site servers used to backup data is time-consuming and risky, posing grave cybersecurity issues.
- The industry will be held accountable if customer’s sensitive data and credit card numbers are leaked on account of the server being hacked.
- All data is lost in case of server failure. This will force employees to perform all basic operations manually.
Financial Service Industry
As far as financial markets go, information has always played a key role when it comes to success. The challenges faced by financial service industries include:
- Big and small firms are still formulating a big data strategy. Without a precise aim, there would be a sub-optimal return on investment if the data is misunderstood.
- Hiring employees with exceptional understanding of the data technology and financial services.
- Data privacy is cause for great concern as cloud computing can pose serious threats. Though it is possible to create private cloud networks, these projects can prove costly.
How Data Entry Outsourced Conquers Data Proliferation
All industries are facing risks and challenges regarding global data management. DEO believes that data is the foundation of any business. And structured and secured data foundation can give firms the confidence to operate safely. DEO’s experienced data entry and data management team make use of cutting-edge technologies to deal with the data proliferation challenges.
DEO’s Tested Approach to Bring in Data Quality
DEO does data proliferation analysis on the voluminous data and follows the below process to provide the best possible data management solutions:
- Classify Information: One of the measures brought in by the company is to classify and map information. This helps to prioritize security, protection, and management resources easily.
- Use of Special Technologies: Deduplication and archiving technologies are used to store less and protect more information.
- Set Policies that Work: Consistent policies are established wherever the information resides. That could be virtual, cloud, or in physical environments. This helps in finding out exactly who owns and uses specific information and assists in information classification. It also aids in controls access and distribution while automating information retention and deletion. What’s more, it also accelerates the process of eDiscovery.
- Stay Flexible: Help organizations plan for future information and continued growth by implementing a flexible infrastructure.
Technologies Leveraged by DEO to Overcome Data Proliferation Challenges
- Compliance of DPR with Data Management: Among many technologies implemented by DEO to withstand the challenges posed by data proliferation, Disaster Recovery Plan (DRP) compliance with data management is one effective technique. Sensitive information stored in the database of an organization needs to be protected from unauthorized access. Hence, information is encrypted to ensure the security of data stored. This is achieved with cloud computing to avoid physical damage.
- Blockchain Technology: Another technology leveraged by DEO is blockchain. This technology helps businesses to store information securely on distributed ledgers. Anyone who exists on the network can access this information.
- API Management and GDPR Compliance A company who has to collect a lot of information on its site visitors needs to focus on API management to have General Data Protection Regulation (GDPR) compliance. The staff members are also trained to maintain data privacy, along with setting up a system to maintain transparency on user information.
Structured Data Management Is the Answer to Big Data Proliferation Problems
Quality of data is extremely critical for all companies. It is essential to see how data across the business is treated to improve them. It involves informed decision-making as you need to ensure that all data is stored correctly, and accurate information is being entered.
With over decades of experience, Data Entry Outsourced has been providing Data Entry and data management services to clients across the world. DEO has all the expertise, infrastructure, and resources to deal with big data and assist in making informed business decisions.