Most organizations today face a deluge of data. From the internet to big data, companies are amassing intimidating volumes of information in locations like the cloud. Of course, this data proves entirely useless without an easy way to access it.
And by accessing it, we don’t just mean logging into the cloud and having a look-see. Rather, data only has value when you can find exactly what you’re looking for quickly. Kind of like the way you type a keyword into Amazon for search results.
That said, this requires organization, integration, and curation of your information holdings. No small order.
So, how do you tame the data beast and get control of the information that your company relies on? Read on to learn more about data catalogs and eight benefits that could help your business.
1. Gain Control Over Your Data
According to David Stodder, “A data catalog can be a kind of Rosetta Stone that enables users, developers, and administrators to find and learn about data.”
A data catalog for business works much like Amazon’s hyper-useful website and search engine. They organize your data warehouses, big data, and databases in a way that renders their information accessible and relevant.
In other words, a data catalog transforms your company’s information holdings into a highly valuable, relevant resource.
2. Enhance Data Accessibility
The bottom line remains simple. Data must be searchable. Otherwise, your employees will spend 80 percent of their time looking for data, which represents a serious waste of time and talent.
With company information now pooled into data lakes, the problem with accessing the information your employees need has grown exponentially. Fortunately, data catalogs enhance accessibility.
That way, your employees can spend their time on more useful and relevant tasks such as data analysis.
3. Reduce Operational Costs Upfront
With the right data catalog technology and assistance, you can cut your data organizational efforts in half. Today’s technologies are moving at the speed of light, and this proves no less true when it comes to data organization.
For example, software exists that automatically discovers, tags, and annotates data. This means an overall reduction in operational costs associated with building your initial catalog.
4. Effortlessly Maintain Your Data Catalog
But the advantages don’t stop with the creation of your initial catalog.
The best data catalog systems also help you maintain your data catalog as new data sets come in. As a result, they stop the information deluge you currently face dead in its tracks.
Although technology to deal with information continues to improve, hesitating to act could leave your organization ineffective and overwhelmed. Instead, it’s time to get proactive about a data catalog and do some research into why you need this.
5. Gain a Competitive Edge
Looking to gain a leg up with the competition? Nothing will put you ahead of the game faster than the ability to rapidly access important data. This gives you and your employees the ability to make better business decisions.
What’s more, with easy access to your data moving forward, you’ll also be able to assess the impact of new business decisions in real-time. Then, you can make adjustments accordingly.
This type of edge will not only help you bring in more business and know more about your customers, but it’ll also leave your competitors in the dust.
6. Improve Data Accuracy
It’s also important to understand how your organization should treat the data that it collects. You see, if every department in your company manages personal data in a different way, then you’ll end up with a highly inefficient system.
One that’s prone to inaccuracies and errors. Without data standardization, your system will also be burdened by inconsistencies. This creates complexities and problems when you want to modify or delete certain data.
What’s more, it also limits your company’s ability to rationalize data and guarantee its accuracy. But with a data catalog, you gain control. This remains essential to efficient, effective business operations.
7. Streamline Regulatory Compliance
How is your organization dealing with new governmental regulations such as GDPR? If your answer involves a lot of shoulder shrugging or long pauses, it’s time to rethink your strategy.
Regulation compliance is not something that your company wants to get wrong. Fortunately, with a data catalog, you can account for all of your prospects’, customers’, and employees’ data.
This allows you to meet requirements when it comes to privacy and a variety of other acts and regulations. In other words, a data catalog can help your company guarantee its regulatory compliance.
8. Cultivate a Creative, Innovative Company-Wide Culture
Although this might not be the first thing that comes to mind when you think about a data catalog, it can foster a company-wide culture of innovation.
After all, when your employees are able to access big data, they can turn it into actionable insights. And they can test these insights in real-time. Easy access to information will inspire your employees and lead them towards innovation.
Business data remains one of your most valuable commodities. But only if you have an effective way of organizing, storing, and curating it. Don’t make your employees slog through unorganized data, day after day.
Instead, provide them with the capacity to get what they need when they need it, That way, they can turn inspiration into action.
Let the data catalog handle the technical details so that your employees are freed up for more creative undertakings.
Why Data Catalogs Are the Future of Business
As data collection continues to ramp up, organizations around the globe are struggling with data organization and management. This can lead to an over-reliance on highly skilled employees to conduct menial tasks.
It also means buried insights, lack of regulatory compliance, and less than stellar performance against the competition. If you feel like your company’s drowning in information, then it’s time to take the bull by the horns.
Invest in a data catalog now. It’s a win-win for you, your employees, and the customers that you serve. What’s more, the investment will pay off in ways that stretch far beyond the eight benefits of data catalogs listed above.
Looking for other ways to give your business a competitive edge? Keep browsing our blog for tips and helpful insights that you need to set your company apart from the pack.