Data has become integral to the digital world. The tech-based economy is driven by data. It is, after all, as valuable as resources like oil. Of course the more data you have, the more valuable it is. When you’re in the business of tech and the digital economy, it’s imperative to organize the data that you gather or purchase from another company.
It can feel overwhelming to deal with large amounts of information, but when you put in the effort to store and manage data properly you will only benefit from it. You use your data to your advantage by using it to market your business, service, or product and sell it to other companies for a lot of money. Here are five ways to effectively organize your data to know what you’re working with and how to use it.
Third-Party Cloud Services
The most popular way to organize the data your company has at its disposal is to pay a third-party to manage it on a Cloud service. While another company will be able to see what data your company has, they can also provide IT services. You won’t have to keep your data on an on-site server, which alleviates a lot of time employees spend on organizing and securing the data. Of course you’ll have to pay a third-party in addition to the Cloud service, but a lot of companies find that it is worth it to save on time and effort.
Managing the Cloud Yourself
Another option is to manage data on the Cloud yourself. All you have to do is pay for your Cloud storage and hire employees to manage the IT and data organization. If you want to avoid another company interacting with the information, you can work with it more closely and utilize the data to its full potential. It requires more work. But if you want to have constant access to your data and don’t want to keep it on your own on-site server, organizing the Cloud yourself will offer a lot of benefits.
Your company can take full control of the data by organizing it on your own on-site server. While it can be worth it, this requires the most work and attention. You’ll need to employ IT staff to secure the data server, but you can ensure the information is kept safe. Organizing and accessing your data will provide the ability to utilize it every day, especially if you keep staff on to access whatever you need. The costs vary but if you are trying to make money off your data, having total access to it at any time is a great advantage.
Customer Data Platform (CDP)
A customer data platform (CDP) stitches together first and third-party sources into a single profile. You can utilize CDP to customize the data pertaining to each source, empowering marketers and other businesses to provide a user-friendly interface for analyzing clients and segmenting data in specific ways to organize and utilize it the way you see fit. The best part of CDPs is that you can funnel specific data points into a single channel, making it easier to organize.
Use Spreadsheets & Graphs
However you choose to store data, you can use graphs and spreadsheets to analyze it. When you’re looking to put together data for marketing or advertising, inputting data into spreadsheets and graphs can offer a cogent way to see the information in a new way. Whether you’re going to use the data for targeted ads or selling specific types of data to other companies, analyzing the information provides a clear path forward. It takes a lot of work to input all the data you have, but it will be worth it. It can make your company a lot of money.
Whatever type of business you’re in, it’s important to organize and store data in the way that best suits your company. Think about how you can use the data to expand your business, grow the brand, and sell your product or service. Then you’ll be able to make a decision on how to utilize the data you have at your fingertips. Data is integral to the modern digital economy, you should use it to get ahead.
Ryan Beitler is a writer, journalist, and blogger who has written about tech for many publications. He has also written for The Slovenia Times, New Noise Magazine, Paste Magazine, and more.