Organizations, both large and small, are burdened with a high volume of data to store. In order to efficiently run a company, important data must be accessible, manageable and easily retrievable. The phrase “Big Data” refers to information and data that is too large for companies to manage and process on their own. Big Data is valuable for companies in that it can help to determine and fulfill customer needs thereby maximizing a company’s operational efficiencies. Companies with a lot of data need a team of professionals to manage this information. One effective solution to manage big data is Records and Information Management (RIM).
RIM is part of a complete process and content management process that supports the entire life-cycle of important business content, ranging from capture and retention to archiving and destruction. RIM professionals, inventory where all of the organization’s data exist, they establish a data map and they also understand the business processes that result in data. These professionals can help to enhance the four V’s of big data that include:
- Volume- The amount of data that there is
- Variety-The different formats and types of data
- Velocity-How much streaming data is being generated
- Veracity-The quality of the data
RIM will additionally reduce costs and while maximizing value by:
- Reducing data cleanup and preparation
- Reducing storage costs
- Improving the retrieval of data, by making it easy to identify
- Improving accessibility of data.
You might think you can manage your data alone, but that won’t do anything to reduce risks. In switching over to a RIM approach, a business leader will reduce low-quality data and gain greater confidence knowing that their data is accessible and easy to identify. Implementing a company-wide RIM policy will also help to establish roles and responsibilities for employees and departments.
In working with RIM, your organization will experience an increase in employee and workflow efficiency, by producing stronger decision making through data analysis. In the process, your organization will reduce, or even eliminate, the costs associated with storing, mining and analyzing data. With RIM your company will most certainly get a ROI.
For more information about RIM, contact Biel’s today.