Information is power. The old saying holds true when it comes to business success in the world of big data collection and management. The more data you have, the more you can adjust your business processes for greater results.
However, staying on top of information trends can be difficult. After all, with more than 2.5 quintillion bytes of data generated every day across the 7.5 billion Internet of Things (IoT) devices set to be active by 2025, the mountain of data available can be difficult to parse.
By understanding the importance of keeping up on information trends, then taking the steps to implement an effective approach, you can reap the benefits of these massive swathes of data. Here’s what you should know.
Keeping up on information trends is a key element of any company’s approach to big data governance. With an effective plan in place, you can more easily adhere to data privacy laws, keep your data networks safe from cyber attacks, and generate the insights you need to manage better business practices. In a world of changing data regulations, rampant cybercrime, and shifting digital practices, these features are invaluable.
As governments the world over come to recognize how vital data protections are to the well-being of humans interacting over virtual platforms, international regulations are emerging that define how information has to be managed. Prominent regulations include:
- The General Data Protection Regulation (GDPR), which mandates that companies within the EU must prioritize data safety and report breaches within 72 hours.
- South Africa’s Protection of Personal Information Act (PoPIA) which comes in to full effect on 1 July 2021
- The Payment Card Industry Data Security Standard (PCI DSS), which requires that companies across the world protect card information with encryption and frequent system testing.
- China has begun implementation of its Personal Information Protection Law (PIPL), which is set to impose heavier regulations on cross-border data transfer.
These regulations are vital as we face an increase in cyber attacks, driven to new heights amid the COVID-19 pandemic. Across 2020, previously unseen cyber-attacks shot up 35%, and facing the reality that 47% of workers fall victims to phishing scams while working from home, protections are more necessary than ever.
Keeping up with information trends like regulations, IoT device use, and advancing encryption technology all can power better business practices. For example, IoT tools have been heavily integrated into the healthcare industry to help track a host of important data metrics. Even handwashing compliance has been enhanced with the power of IoT devices that scan the name of medical professionals entering a room, dispense hand sanitiser for them, and record the action of hand washing.
By keeping up on what is possible through information gathering, businesses across industries can build safer, more effective practices.
So with the importance of keeping up on information trends clear, how do you go about actually doing it?
Start by understanding trends in data management. Right now, these include using artificial intelligence to help catalogue and organize information and making that information accessible for users in a self-service platform. The shift to hybrid and fully cloud data networks allows companies to communicate with employees across the globe in the increasingly digital world, but managing these systems isn’t always easy.
Staying on top of and managing information trends comes down to your ability to flexibly redefine your processes to capture and implement data per shifting regulations and new tech. Here are some tips for keeping up successfully:
- Follow the research. Something as simple as a Twitter account that only follows industry analysts in the data field can be enough to keep you aware of emerging trends.
- Actively survey clients regarding needs. By intermittently gauging client opinion, you can begin to see where competitors might be offering better data management experiences.
- Use trend analysis tools. Platforms like Google Trends or Stack Overflow can help you keep abreast of what is happening in the information world.
- Keep a close eye on big business. Assessing information trends doesn’t have to be limited to your own industry; explore big businesses of all kinds to assess their approach to IT.
- Consider ongoing training and education. From massively online open courses (MOOCs) on platforms like Udemy to accredited universities, the more training in new information systems you have the better you can keep up with trends.
Regardless of the industries you serve as a data manager, governing that information is key to the customer experience. To better ensure success, stay up-to-date with the trends of the times. By integrating these strategies, you position your business to accommodate new methods of data utilization before your competitors. As a result, you can safely gain an edge on data management practices for the benefit of your clients.
Data collection has limitless potential to improve industries of all kinds. In healthcare, we might be seeing the greatest impacts of big data and information tools. With the power to improve the safety and quality of care through the use of information generated by patients with IoT wearables and telemedicine platforms, medical professionals can better draw correlations across diagnoses and treatments to implement more effective care solutions. This has the potential to save lives.
As digital information managers explore the rapidly advancing world of data gathering and utilization, it helps to have a plan in place to keep up with information trends. By doing so, you offer a better customer experience and can innovate new practices with world-changing potential. Assess your own tools to see where you can improve, and reap the rewards of a more competitive information strategy.
Dan Matthews is a freelance writer and content consultant who specializes in valuable insights when it comes to trends in data and technology. If Dan isn’t writing, you will find him with a coffee in one hand and searching for new music, on his phone, in the other.