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Expert Tips To Identify And Act On Data Overload

Dec 16, 2024 - forbes.com
The article discusses the challenges companies face with data overload and offers strategies to manage it effectively. It emphasizes the importance of implementing a "data hygiene" strategy to prioritize key metrics, conducting regular audits to eliminate redundant data, and considering a centralized data team to streamline data management. The article also highlights the risks of collecting superfluous metrics and stresses the need for data minimization, ensuring data is collected with a clear purpose. It suggests that understanding the value of collected data is crucial to avoid unnecessary resource expenditure and potential budget cuts.

Additionally, the article advises on connecting data elements to meaningful analytics, prioritizing metrics aligned with business goals, and adopting a value-over-volume approach to data management. It recommends setting clear retention rules, automating data cleanup, and integrating advanced identity and access management to enhance security. Other strategies include conducting data audits, optimizing AI deployments, launching a "90-day data challenge," categorizing collected data, automating data processes, leveraging data management technologies, and simulating data breaches to identify excess data collection.

Key takeaways:

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  • Implement a 'data hygiene' strategy to prioritize key metrics, regularly audit data, and eliminate redundant or low-value data.
  • Consider a centralized data team to manage disparate data tools and ensure cohesive data management.
  • Enforce data minimization by collecting data only for specific purposes and conducting regular assessments of data relevance.
  • Prioritize high-value data that directly impacts business objectives, adopting a value-over-volume approach for better decision-making.
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