Documents and Data: the Importance of Data Management

Data is all the rage in business. From data warehouses, to data intelligence, to data analytics, business are benefiting from the largest range of consumer and market data ever. Much of this data comes from documents the company produces. But is your business efficiently and effectively integrating document management solutions with data management techniques?

The importance of Data Management

Data is one of the most useful artifacts available to businesses. The ability to access and analyze data can improve business decisions, saving money and increasing ROI. However, data is only helpful if it is useable. Data management ensures that the data is cleaned of any errors, stored in a logical and easily accessible manner, and it remains secure. Without meeting these three premises the data is not useful and not easily obtained.

Data and Document Management

Data management cannot be successful without document management. Much of the data comes from documents produced by the business. It is necessary to have the data on the documents in a usable format, correctly stored, and easily accessible. But how do you ensure that your document management system is providing the best data management capabilities?

      1. Ensure your documents are not being stored in separate information silos. The documents should all be stored together by data needed. This makes sure you receive the data in a timely manner.
      2. Create an appropriate security system. By using a document management system, the data can be encrypted for secure reasons or simply protected. This ensure sensitive information is kept safe and that only those who will use the data can access it. As a result, this prevents the data from being stolen or altered.
      3. Additionally, document management systems can help to avoid error. This is especially true when using document scanning systems. Your organization will be able to catch any errors with a smart and responsive system. This may include a wrong data type in a column, unreadable data, or unanswered data. Having a secure, efficient, and accessible document management system is necessary to successfully glean data.

Your business can better their industry position by gathering data from documents and from other external sources. Most importantly, better data and data use means better customer understanding, customer service, employee retention, and industry position/understanding. It all starts with document management. Ready to take the first step? Contact Biel’s today.