VIEW BY TOPIC
Ready to Grow Your Business Fast?
Here’s How I Grew Five Businesses, and Eventually Sold One to a Fortune 500 Company.
What to Know About Data Storage for Your Small Biz
As a small business owner, it may seem unnecessary to maintain a data storage system. Today, every business generates massive amounts of data regardless of the organization’s size. Data management is necessary for small businesses to ensure effective planning and communication, minimize errors and support regulatory compliance.
While storage management may initially appear challenging, creating a system can make it easier. You can utilize your large data sets more effectively through careful planning and the proper tools to improve operations, enhance customer experience, and build your brand. Here are some helpful tips to protect and make the most of your information.
1. Remove Redundant Data
The best thing about Cloud storage is that it’s a safe place to manage the storage of your data to prevent physical damage, theft, and cyberattacks. So, you can get to your files remotely, reducing the need for costly servers and software. Removing redundant data lowers storage costs and makes storage more efficient.
The more files you store, the more money you spend, and redundant data can confuse and lead to huge losses. Small businesses must assess their data, identify valid information, discard obsolete information, and delete duplicate records.
It could cost you money every time you make a backup if you have identical files stored under different names. An expert in data retention could help you identify redundant information in your network storage protocols, reducing backup and storage costs.
2. Develop a Simpler Data Storage Solution
Getting sucked into the complex nature of data storage and management is easy, so keeping things simple is advisable. Creating a complex data storage system only increases your costs and increases the likelihood of something going missing. A primary data strategy can help small businesses manage, capture, store, and access data effectively.
You can manage electronic files similarly to paper documents by allocating a fixed amount of storage for every record you create, receive, and use. To achieve this, you should give the different work documents the correct file name format. Maintaining a central inventory document can significantly improve back-office efficiency to make it easy to find everything.
In most cases, small businesses cannot afford to develop their own data storage and management system. There are a lot of off-the-shelf database solutions and applications that offer the same functionality at a much lower cost than custom software.
3. Identify Your Data Storage Requirements
The need for more space to store data has become a necessity for small businesses. You must evaluate your storage needs based on the data, the applications, and the accessibility of the data. Establishing your storage needs makes identifying and investing in efficient storage solutions more manageable.
Your small business will need additional space to maintain files like graphics, documents, presentations, emails, spreadsheets, databases, and audio files. Understanding how much data you have, when, where, and how you can access the data will help you determine your data storage requirements.
4. Familiarize Yourself with Regulatory Compliance
Your industry may be subject to increasing regulations, which may burden your small businesses with compliance requirements. Therefore, before setting up any data storage and analysis solution, check the regulatory compliance guidelines and ensure you adhere to them.
The best solution is usually one that’s designed exclusively for industries with specific regulatory requirements. For instance, if you run an eCommerce business, choosing a solution that is tailored to the eCommerce industry can help reduce your risks while making the collected data more valuable.
You also need to keep up with data privacy changes because new regulations change regularly, and each state has laws and rules. You may need to revise your practices continuously based on the regions where you wish to target your customers.
5. Prepare a Strong Data Backup and Security Plan
Regardless of the amount of data your small business produces, you must keep it secure and accessible. To accomplish this, developing a robust data backup plan and prioritizing data security is essential. With the increasing cybersecurity threats to small businesses, it’s crucial to emphasize data security.
Make data security a priority, including regular backups, robust firewalls, and up-to-date anti-virus and malware software. Using the cloud to back up your data is safe since you can password-protect your documents. Cloud storage minimizes the fear of cyber attacks and limits access to your storage by other people.
Disaster recovery planning aims to determine how to resume your operations immediately after a crisis and whether you can handle this independently or if outside assistance is required. A periodic backup is essential to maintain stability even during a catastrophe, and planning is the best way to ensure long-term resilience.
6. Maintain a Convenient Database for Your Team
It is crucial to balance convenience and security when accessing your data. Ideally, you want to make it impossible for anyone who does not have proper authorization to access business data. However, you don’t want to restrict authorized staff access to the information they need daily.
You should set up access permissions and logins based on a person’s role and data requirements. It is easier for team members to access the required information when permission levels are set up instead of guidelines and approval processes that can become complicated or rigid in some circumstances. This ensures that your customer data remains secure within your organization.
7. Backup Your Data
Small businesses generate a large amount of data, from customer to employee records to system records, so losing even one piece of information could cripple their operations. Regularly back up your database to prevent data loss and ensure your business operates smoothly. Many variables can compromise data, including computer crashes, human error, and natural disasters.
Backups ensure that you always maintain a copy of your systems, irrespective of the cause of data loss. It is mandatory to regularly clean, delete, and update your data backups to comply with data protection laws. Keeping your data secure is crucial to your continuity of operations, and data backups play a vital role in this process.
The Bottom Line on Data Storage
Small businesses should concentrate on data management since they generate valuable data. Data Management must be at the forefront of your business strategy to gain an advantage by anticipating customer needs, increasing brand value, and leveraging network information.
You must understand where you store your data and who has access to it if you want to manage it effectively. The proper data storage system for your small business should be reliable, secure, and simple to use, so compare your options and decide which is best for you. These seven tips will make finding the proper storage solution easy, especially when using extensive data in your business.