Most business professionals understand how to analyze data, but very few know how to use this data to improve their business. Despite this, data analysis is one of the strongest tools a business can utilize.
In many ways, data is the foundation in which successful businesses are built. Whether you are utilizing this data to improve workflow, products, or even the software you are using as a company, this data is invaluable and protecting it as well as learning how to use it effectively can actually help you to grow your businesses and not become one of the thousands of businesses being breached every year.
Although you may already have ways to analyze your data put in place, these are some incredibly simple and effective tools that can help you to get the most out of your data without the worries that can often be associated with security and effective management. Once you learn how to properly analyze your data, you can begin to secure it and ensure that your team is taking it into account in every way possible moving forward to expand, grow, and learn simply by taking into account your everyday routines.
Five Effective Ways To Analyze Data More Efficiently
Although you may already have a data analysis model in place, you may not be using said data to its best abilities. Once you have created a data analysis platform that covers every aspect of your business properly and efficiently, you can begin to see patterns and learn how to turn these patterns into a model with which to improve your company, how you use office culture to build employee engagement, the way you handle projects, your profits, the way you handle your data, and the way in which you tackle safety in the workplace.
Use A Database Engine
Although a database engine may sound like a long and tedious process to implement in your company, it can actually be a fairly simple application to utilize and can help you to manage your content and data as well as archive past data for future reference. In doing so, you can ensure that your data is all in one place and secure so your company can review it and work on the areas that need improvement without having to use a crypto key and open it up to hackers in the process. For instance, if you set up an application such as FileMaker and then integrate FileMaker with RESTful APIs, you can connect Google Maps, Google Calendars, Microsoft SharePoint, and multiple other programs to intertwine all of your information in one easy-to-use platform.
Instill Workflow Automation
Workflow automation is a wonderful way to improve upon the way in which you handle business processes as a company. In the past, you may have notice workflow being held up by the processes you were completing or massive amounts of paperwork being used that then had to be manually entered into your data programs. However, when using a workflow automation program such as Nintex with eSignLive, you can manage all of these processes virtually and, when integrating SharePoint with this program, you can actually automate repeatable processes which allows you to ensure that no mistakes are made and the process is far more expedient likewise.
Project management is a simple and effective way to ensure that your employees are exceeding expectations, your projects are being completed in a timely fashion, and your profits are ultimately reflecting this. Although you may be able to see when an employee is slacking off or when a project is past its due date, being able to define and track these project management methods will allow you to not only recognize them once they have occurred but see the clear patterns of behavior that lead up to these negative situations and prevent them in the future.
No one likes it when an employee gets hurt, however, the safety standards that are put in place prior to these injuries could either mean a massive lawsuit or an employee that understands it was a freak accident and moves on with the company after the fact. In order to prevent the latter, taking into account your workplace safety and conducting a hazard/risk analysis can significantly increase your safety model’s efficiency and ensure that your employees are safe and you are not being forced to pay worker’s comp as a small business and wasting part of your profit on something that could have been easily avoided.
Valuation and Discounted Cash Flow Method
Although most business owners assume that valuation is only utilized when going through low points or trying to sell the company, this is not the case. In fact, by knowing the worth of your company, you can begin to learn how to improve your company’s profits and products as well as the time it takes to produce the service you are providing likewise. In turn, your workflow will not only become more efficient but also more profitable and smooth as well. By learning how valuation works and why it’s so important, you can begin to utilize the data regarding the worth of your company towards making your company worth even more in the future.
Three Ways To Secure Your Data
Now that you are aware of how to improve business workflow through data analysis, you must think about how to protect this newly used data from breaches and data manipulation. Although there are countless ways to do this, some of the most efficient methods include encryption, steganography, and data recovery.
File and Full Disc Encryption-Keeping it safe
The two most common ways to encrypt data are file encryption and full disk encryption. Although they sound complicated, they are actually surprisingly simple to utilize. File encryption is basically where you encrypt particular files rather than all of the data on your hard drive whereas full disk encryption specifically targets any and all data found on the hard drive of a computer. The more popular one is full disc encryption (FDE) due to the fact that it ensures you do not miss any particularly important pieces of data, however, if you want to only select the most important data for encryption, file encryption is the way to go.
Steganography-Transferring it safely
Although there have been countless advancements in data security throughout the last few years, one of the most effective ways of transferring data is actually not an advancement at all. In fact, since the 1500’s, the use of steganography has been present and, although digitized in the last decade, it remains a highly effective way of hiding data and information behind various redundant sources and file to ensure that you can safely transfer your data from one individual to another, if necessary. It can be utilized both on a computer as well as a phone and with practically the same tools meaning that calling via WiFi and connecting devices to your phone via Bluetooth will finally be safe from hackers looking to intrude upon your data. Although it may seem difficult to do, there are actually so fairly useful steganography tools that are both cost effective and easy-to-use which can help you get started on your path in steganography with little resistance in return.
VMware Data Recovery-Retrieving it when lost
With the race to modernize business well under way, VMware is a unique and wonderful way to tackle data in a far more effective manner. Multiple companies have recognized the usefulness of creating 3D models of their data but, in fact, this same principle can be used to retrieve data as well. With virtual data recovery, you can recover any missing data on your VMWare platform and ensure that using this modern technology for data analysis does not lead to a major issue when some of the data ever becomes lost or breached.
Although there are countless ways of tackling the issues involved in business workflow, these are some basic principles to get you started on the right path and headed towards a stronger business model, a more informed staff, and an effective way of analyzing the countless data platforms needed to succeed. In the end, you may find yourself more profitable, more successful, and more efficient all thanks to the way that you analyzed simple data being retrieved from your company on a daily basis.
I was able to see the power of data analysis as a project manager and security specialist for multiple companies. Once these companies began to utilize the technology for data analysis and security which I provided for them, the opportunities were endless for improvement. However, the world is beginning to see the importance of data analysis likewise (not just me) and, by becoming aware of the power of data analysis in business, you can see the massive positive effects immediately.
By using these different tools, my company was able to go from a $500k year to a $1.5 mil year simply by reducing any and all bottleneck issues seen through data analysis. It may not be easy at first implementing these new techniques, but they will significantly increase profits and success in the future.
The biggest challenge we faced when implementing this new technology and these analysis techniques was simply the ability to integrate employees smoothly into entirely different structures. We created multiple workshops and have the wonderful people from multiple organizations come down and review the software personally
There are so many lessons to be learned in this process. From noticing trends that maybe even yourself formed which are inefficient to seeing ways you can improve profits in a very visual and easy-to-use manner, this analysis of the multiple different forms of data your company provides will help you most of all to be able to see your company for all it is (ie the big picture) and learn how to make it more efficient and profitable.