Data is the name of the game when it comes to doing business these days. No matter the sector, whether it is financial, health or retail, companies depend on large amounts of information to scale business and drive success.
Data is the name of the game when it comes to doing business these days.
No matter the sector, whether it is financial, health or retail, companies depend on large amounts of information to scale business and drive success. Data is used to help improve customer satisfaction, measure company performance, strengthen the ability for company leaders to make more informed decisions and stimulate innovation.
With the shear amount of big data utilized these days, it is imperative that a company’s information technology (IT) team have data in one centralized system known as a data operations center (DOC).
Businesses reap many benefits from having a well-structured DOC.
Considered the backbone to a company’s data infrastructure, a DOC is the location, either onsite or remotely, that houses the servers, equipment and hardware used to store and analyze information. DOCs ensure that the information remains available and secure.
A DOC allows companies to process large amounts of data in real time, analyze it using advanced algorithms, store it safely and retrieve it when needed. In the end, this process adds more value to the company.
Company leaders rely on their IT teams to run DOCs, managing substantial amounts of information and keeping that data organized, and perhaps most importantly, secure. These centers also give companies piece of mind with recovery solutions so that no data is lost. Some offer a back-up system so that information can be accessed online easily and securely from various locations.
With centralized information, a DOC also helps experts better analyze data, affording them opportunities to build various business models to scale and assist with informed decision making.
There are several ways a DOC can be a crucial benefit to companies.
Business owners know that oftentimes, time is money. A DOC can help companies reduce costs by eliminating the need for manual processes when it comes to handling data. The information center takes control of monitoring, analyzing and organizing, allowing employees to spend more time working on other tasks to drive the business forward.
A company’s DOC reduces costs on other things, such as alternative backup storage space or power consumption, allowing the business to allocate that savings to other business needs.
Additionally, a business may realize savings in the event of an outage when the DOC is structured with backup systems to take over if a server goes down. No time, money or information is lost if a server goes offline as another will immediately pick up the pace, seamlessly.
Security is a top concern for companies as unsecure information can lead to catastrophic results and losses if not managed property. Stolen information such as names, addresses and phone numbers could be used for identity theft or other fraudulent activity. This, in turn, could be costly to the company, with financial losses and tarnishing reputations.
A DOC ensures that the data stored on servers is protected through encryption, up-to-date security patches and other security tools. Constant and automated monitoring on the systems and process reduces any opportunities hackers may have to access confidential information.
DOCs not only provide protection from unauthorized access to sensitive information, but also helps defend against physical scenarios as well. In the event of a natural disaster, such as earthquakes, hurricanes or fires. With online accessible back-up systems in place, data can remain secure, even if there is an interruption or outage at one location.
Data privacy laws are in place to assist companies with maintaining strong security when it comes to managing sensitive information. It also helps protect against any fines or lawsuits that could result from an information leak.
Those laws can vary by state and even by industry, especially in the areas of financial, health and retail, where extremely sensitive data is stored. DOCs can be structured to automate compliance with governance and policies, with continuous updates and monitoring.
In addition to external regulations, such as the General Law on Personal Data Protection (GLPD) and the Health Insurance Portability and Accountability Act (HIPAA), a DOC can also ensure the company is in compliance with internal regulations that may have been developed by company leaders.
A DOC can provide data in real time, which improves compliance reporting accuracy and speed. This enhances the company’s ability to produce an audit trail that minimizes the risk of becoming incompliant.
Information gathered from data intelligence is a scalability method most companies cannot be without in today’s business world. As data is collected through means of artificial intelligence and machine learning, business owners are finding new ways to cater to each customer to enhance his or her experience.
For example, through the use of data intelligence, retailers can learn who is shopping, what they are buying, when they are buying, where they are buying and how they made the purchase. This information is invaluable to companies as they make decisions about their businesses. It allows the company experts to study usage trends and digital footprints and also strengthens communication across the company.
Having that information stored securely and in a manner that it can be analyzed and used most effectively in a DOC will set the company apart from its competitors.
Business leaders today know that they can’t afford to keep up with the competitors without the use of Big Data. But, more importantly, businesses today can’t afford to mismanage such sensitive information without the threat of major losses.
A well-built DOC is a reliable way to manage, organize and protect that information.
In the age of digital transformation, information is paving the way for business owners to stay relevant and achieve success against competitors.
Big Data is the practice of collecting information from both traditional and digital sources to identify trends that can help businesses grow and operate more efficiently.