Throughout the years on a few occasions I’ve heard that “cash is king and data is queen”. As the centuries old idiom states “the queen rules the roost” and today that queen is data.
What is the Value of Data?
Oxford dictionaries defines data as facts and statistics collected together for reference or analysis. Let’s take a deeper look at data with respect to IT.
All IT planning should be centered on the organization’s creation and use of data. It is the management of data that produces information that users need to complete their job duties. Information creates knowledge and through knowledge wisdom is developed.
What are the types of Data?
Data falls into (2) categories: structured data and unstructured data
Structured data is created and shared within formal systems of a corporation (Databases):
- Corporate transactions
- Corporate reports
- Corporate databases
- Customer files
- Audit report
Unstructured data is created and shared with informal systems
- .doc, .docx
It is estimated that 25% of corporate data is structured and 75% is unstructured. Understanding and prioritizing an organization’s data is required to develop an effective IT Management plan that includes a data policy. (Source: datasciencecentral.com).
IDC estimates the volume of digital data will grow 40% to 50% per year. By 2020, IDC predicts the number will have reached 40,000 EB, or 40 Zettabytes (ZB). The world’s information is doubling every two years.
How is Data created and used?
Data is created when users access and perform operations with tools, formal and informal systems
Users gain access wired/unwired using:
- Internal PC/Laptop
- External PC/Laptops via VPN
- Mobile Devices
Data is bi-directionally transported over private and public networks between and end-point and a host.
To produce quality reports, data should be:
What is Data management?
Organization of all sizes vary in their approach to data management. It makes good sense to have a mythology in place to accomplish effective data management. Much like a consumable, data does have a shelf life. Think cradle to grave or womb to tomb approach using life-cycle components.
Create: End-points performing systems operations/functions.
Store: Desktop, Server, Network Storage, Cloud
Retrieve: Internal and External
Backup/Protect: Local, Cloud, Technologies
Recover: Disaster, Loss of Data, Plan
Archive: Retention, Purge
Where to start with a Data policy?
This depends on several factors; existing policies, type of business/agency, regulations, internal/external users to name a few. Here are some suggested steps:
- Perform data Inventory
- Review data
- Prioritize data
- Create data flow diagram
- Implement data backup, recovery and archiving procedures
- Implement users AUP
- Document, review and modify as needed.
Through its managed services practice. Endeavor offers a data protection service that address both backup and recovery. IT business continuity planning is available through our Professional Services practices.