Golden Records will allow your team to:
Consistently achieve company goals
Better define company strategy with correct, intelligent business information
Maintain efficient records management
Provide the best service to your clients and customers
“Golden Records” refer to pure, best-defined files that provide the greatest insight into company information. These are the master records that employees return to when looking for accurate information. Golden Records should be singular, accurate, consistently managed, and current.
It is best practice for companies to get in the habit of creating and using Golden Records at the earliest opportunity. Duplicate files can quickly fill up space in your content repositories, resulting in greater expenses, information mismanagement, and needlessly extensive archives. Your company needs to create multiple paths to the same record in an effort to keep data overhead low. This will prevent duplicate records in multiple repositories, making retrieval and data management a hassle. The more duplicated data your company produces, the less it’s worth and the less useful it is in creating scalable business intelligence.
Maintaining Golden Records will help to centralize information, so your team can enjoy simplified access to records. Your Golden Records will live in one place, so employees won’t waste hours searching for records, or sifting through duplicates looking for the original record. Moreover, Golden Records encompass all the useful records within a company’s enterprise.
Golden Records will ensure data consistency and records accuracy. In today’s business world, it is crucial for companies to process and deliver correct information to their clients and associates. Duplicate records can lead to incorrect data, which disrupts business processes and workflow. You don’t want to send a wrong invoice or wrong price, and you don’t want to use information that isn’t correct or up-to-date. The consequences of inaccuracy are costly and hinder productivity. A prevalence of redundant data and duplicate records means that companies must use employees and resources to validate information. The more duplicate records in your enterprise system, the more time you must devote towards finding the correct record. Duplicate records can result in missed business opportunities, mismanagement, strategic errors and client dissatisfaction.
Securing data is top of mind in this era. Data duplication, or sprawl, is problematic. Some of the reasons are:
Disaster recovery gets very complicated when your data is scattered across your network.
Enforcing seamless business continuity standards in a disjointed environment is nearly impossible.