What to Do When Dealing with Data in Physical Assets

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Data is one of the most valuable assets for any business. Data’s advantages are that it can be applied to improve customer relationships, make better decisions, and track performance.

However, data can also be one of the most challenging things to manage. As the digital age progresses, businesses are investing more and more into digital data management solutions. Unfortunately, there is likely that most of your existing data remain in physical storage. Storage rooms will be full of documents, tapes, and other data-rich materials that are difficult to move and even harder to manage.

It might be challenging to transition them to digital assets, but you can find ways to do it. Here are a few tips to help you with the process.

Assessing Data Materials Worth Digitizing

Data transformation can be costly, and businesses need to assess which data in physical assets are worth moving online. Not all data is created equal, and not all data needs to get moved to a digital format. Businesses need to prioritize their data and understand the value of each type of data to make the most of data transformation.

There are a few factors that businesses should take into account when assessing the value of their data:

  • How frequently is the data used?
  • How easy is it to access?
  • What kind of information does it contain?
  • What kind of impact would losing the data have on the business?

Here are some of the most common types of data that businesses need to assess:

  • Documents:

    Financial reports, tax documents, contracts, and other legal documents are some of the most critical data businesses need to manage. This data type is often susceptible and can be difficult to replace if lost.

  • Images and Videos:

    Photos and videos can be valuable for marketing and product development. They can improve customer service or document business processes.

  • Customer Data:

    Customer information, such as contact information and purchase history, is essential for sales, marketing, and customer service teams. This type of data can be difficult to recreate if it’s lost.

  • Employee Data:

    Employee records, such as performance reviews and time sheets, are essential for HR teams. This type of data can improve employee retention and performance.

Digitizing data can be expensive and time-consuming, so businesses must ensure that the benefits outweigh the costs. Assessing data materials worth digitizing is critical to making informed decisions about which data should be moved online.

Creating Data Storage Solutions

Once businesses have assessed which data materials are worth digitizing, they must create storage solutions. Data storage is one of the most critical aspects of managing data. Companies must ensure that their data is stored securely and can be easily accessed.

Cloud-based storage solutions are a popular option for businesses. Cloud storage is internet-based storage that allows companies to store data on remote servers. This type of storage is convenient because it is accessible from anywhere with an internet connection.

Another option for data storage is partnering with a company that provides archive storage solutions. These companies can store data off-site in a secure location. This type of storage is ideal for businesses with large amounts of data or need to keep data long-term.

Businesses should also consider investing in data management software. This type of software can help companies to organize and access their data. Data management software can be expensive, but it can be a worthwhile investment for companies that rely heavily on data.

Data Destruction

Destroying data on physical assets

Most data types are sensitive and classified, so it’s essential to have a plan for data destruction. Data destruction is destroying data so that it can’t get reconstructed. This process is necessary to protect the security of businesses and customers.

Several data destruction methods include physical destruction, digital deletion, and degaussing. Physical destruction involves physically destroying the storage device containing the data. You can do it in various ways, including shredding, crushing, or burning the device.

Digital deletion is overwriting data so that it can’t get recovered. Data can get overwritten using software or hardware tools. Degaussing is a process of erasing data from magnetic media using strong magnetic fields.

Data destruction is an essential part of managing data. Businesses must ensure that their data gets adequately destroyed to protect themselves and their customers.

Data Organization

Data organization is critical to managing data. Data must remain appropriately organized to be accessible and valuable. There are several methods of collecting data, such as by date, type, or topic.

Organizing data by date is a standard method. This method is convenient for storing data long-term. Data can also get organized by type, such as customer, financial, or product data. Collecting data by topic is ideal for businesses that need to find specific information quickly.

Data organization is a necessary step in managing data. Businesses must ensure that their data remains adequately organized to be accessible and valuable.

Final Thoughts

Digitalizing business data is critical in the modern business world. Businesses must ensure that they take the necessary steps to move their data. These steps will be required to manage data securely and efficiently, which is essential for managing it effectively in the digital world.

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