Data, why is it a business asset?

Data, why is it a business asset?

Companies make decisions based on data, large databases of many types, but primarily financial or commercial databases, which become a power in their hands since they can determine marketing strategies based on the use of these data in social networks and other types of spaces suitable for the efficiency of your advertising.

Need to protect the data of individuals uploaded to a file in the cloud

Now, in all company business units, workers interact with data, not as an isolated process but as part of the day-to-day. The data on the internet and in the cloud must comply with the regulations of the LOPD, the organic data protection law of 2018 in Spain (adopted based on the European Data Protection Regulation).

When our data is manipulated, the people who do it have to guarantee and protect our freedom and our privacy and intimacy rights, those of individuals, since the user is responsible for the personal data file that is uploaded to the cloud, be it of customers, suppliers, navigators of your website or online store, etc.

The LOPD requires that the Spanish data protection agency provide its physical location and a file description. Likewise, the Cloud Computing service provider is responsible for ensuring the correct treatment of said data.

The LOPD obliges any natural and legal person who stores or processes personal data, whether a public entity, writer (online companies, for example), or w self-employed person who accesses personal data due to their activity.

Data as business treasure

The companies that succeed have developed the potential to manage data, which they turn into an asset of their company.

Internally, big data, supported by the Internet of Things or IoT, can obtain and analyze data in real-time related to or associated with productivity, which becomes a factor for improving competitiveness.

There is also a lot of talk about digital transformation. For this, data analysis is essential, allowing the company to find opportunities in the market to ensure the change we are talking about.

Finally, at a level within the company, before the data is stored, the quality of the information is known by knowing the context in which it was produced.

Data collection

We talk about compilation, which is nothing more than the collection of raw data and its transformation into a format that can be easily manipulated or combined with other data in preparation for further analysis.

As we have seen, companies obtain data which must respect data protection regulations, which does not prevent them from being analyzed for the organization’s benefit.

It can be challenging to sort through large amounts of data, especially if you don’t have the time and resources.

However, with the right tools and processes, your business can start using your data in no time and with minimal manual input.

Through data analytics, employers or relevant IT, HR, or business departments can gain valuable insights that inform decision-making and help better understand customer needs.

The end of the process would be the analysis of the data. There are five steps to good data analysis:

Five steps to analyze data

To improve the way the company analyzes its data, follow these steps in the data analysis process:

Step 1: Define your goals
Step 2: Decide how to measure the goals
Step 3: Collect your data
Step 4: Analyze your data
Step 5: Visualize and interpret the results.

And what happens if the company loses its data? In that case, data recovery companies, such as Aratecnia in Zaragoza. If you need a data management system in the cloud that complies with obligations and regulations, contact Aratecnia.

Remember: “accidental deletion of data can be recovered with technological means “.

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