What is big data and knowledge management?

Running a business isn’t only about gathering new sales opportunities. It’s about generating and studying data from various business practices.

In return, your enterprise can create actionable strategies in reaching business success. 

The first step to achieving this goal is to understand big data and knowledge management. Read on to learn more about these essential business aspects. 

Trethowans
Trethowans

What is big data?

Big data is a broad term that encompasses the policies, processes, and technologies used for information management and storage. Perhaps, the most common application of big data is in the IT industry. 

Various IT companies use large databases to help with the collection of relevant information from diverse sources. These organizations store their data on various storage media, such as the Internet, CD-ROMs, memory sticks, mobile devices, and even file cabinets.

Enterprises may apply the information gathered in different applications, such as:

  • Information technology architecture (ITA)
  • IT infrastructure
  • Data warehousing
  • Business process management (BPM)
  • Big data analytics
  • Machine learning or artificial intelligence (AI)

But, gathering big data is only part of the solution for business success. Organizations need to use applications that allow them to pull information quickly, lest they waste valuable time and effort.

To help you wit this, you can use The Cloud Tutorial. You can customize your business’s knowledge base, and pull necessary information on-the-fly. This application, along with other similar software, allows staff members to check various data without spending seemingly countless hours looking for a specific document or file. 

Note that big data help improve business processes by providing companies with valuable data on various areas of interest, such as marketing, manufacturing, service, and research. Use the information to make informed and beneficial decisions to all employees, regardless of in-house rank. 

What is knowledge management?

Knowledge management is the process of managing information, hoping to improve and grow business performance. If used correctly, it can become effective in achieving an organization’s objectives. 

For example, the human resources department of a large manufacturing company uses knowledge management to ensure that it has the most effective and efficient workforce in the industry. Another example is when an IT department in a technology-based company uses knowledge management to ensure that its systems and applications are functional and flexible. 

At the organizational level, knowledge management is usable for organizing resources to develop and promote technologies and improve business effectiveness by improving the business’s knowledge base.

Knowledge management takes into consideration several things to help enterprises achieve various goals. For example, the management team should look at the current processes of the manufacturing department to identify their strengths and weaknesses.

Staff members can then use the data gathered to evaluate how those strengths and weaknesses can improve the company’s manufacturing strategy. 

In-house knowledge management teams should also examine the current and future technology changes that could affect the company’s business strategies. In doing so, the firm may develop actionable long-term solutions for the benefit of both in-house staff and the business’s clientele. 

How to secure big data

Placing big data on the Internet may help various organizations capture and retrieve information efficiently. But, always keep in mind the risks of security breaches

Remember, the benefits of securing big data are as follows: 

  • Improved business performances
  • Reduced organizational errors and risks
  • Increased sales
  • Improved profitability
  • Enhanced customer service
  • Improved safety measures
  • Updated inventory controls
  • Enhanced management protocols

However, all these benefits will be for nothing if hackers breach into your digital databanks. Many companies usually face several challenges in securing their data online. If you want to protect your valuable data, you should consider how to secure big data.

It would be best if you always considered the importance of storing data safely. A big data security system must ensure that information stays protected from all possible threats, such as human error, natural calamities, or external threats.

This is why you need to look for a company that specializes in information security. By hiring a company that has the appropriate skills, you’ll find it easier to protect your data.

If you’re going to hire a third-party IT company to handle your big data, ensure that the service provider is trustworthy. The last thing you’d want is for a data security firm to be the culprit that steals your organization’s valuable data. 

How to manage and organize your business data

If you want to take advantage of your business’s data efficiently, you need to implement a system wherein you and other staff members can access information quickly. 

One way to organize business data is to manage your business’s physical storages. Ask yourself the following question, “Do your employees waste valuable time rummaging through file cabinets, trying to search for a specific file or folder?”  

If they do, you need to form a system that allows the staff to find documents within, at most, a few minutes. Perhaps, you can label each cabinet and folder to indicate what files are in those containers.  

But, if you’re going to secure your company’s data in a digital platform, consider organizing and securing the passwords for the databanks. Note that there’s nothing wrong with having one password for your organization’s apps. However, ensure that the master passcode you use isn’t as simple as something like ‘1234.’

Instead, have different passwords for each data center. That way, if a hacker breaches a databank, you can still recover some or all of those files if you have backups located in another digital container. However, that cyber attacker can capture all organizational data if you only have one password for all databanks in your business.

Having different passwords also forces you and your employees to maintain proper data management. Otherwise, failing to follow correct data management protocols might lead to information loss.  

Big data and knowledge management are important in every business

Big data and knowledge management are integral factors in maintaining and improving various business performance and practices. Always keep in mind to secure the sensitive company information, or they fall into the hands of cyber attackers.

Practice discipline and diligence in handling organizational data, and your business might be one step closer to achieving its goals.