4 Data Mistakes You Make Every Day

You probably will not realise the importance of your company’s data until it suffers a breach or you lose valuable information. With more businesses generating more data than ever before, it has never been more essential to protect your data at every opportunity, which means recognizing the daily mistakes so many businesses are guilty of making.

You Underestimate the Importance of Data

Many companies will view their vast product inventory or expensive hardware as their biggest asset, yet commonly underestimate the importance of the data they have acquired over the years. Unless you run a company with a focus on intellectual property rights, you may not believe your data has much worth, but it does.

Just because your data does not have a direct impact on a company’s bottom-line, that doesn’t mean it isn’t valuable. If all your documents were suddenly wiped from your computer, how would you feel? Afraid, right? Data determines a company’s strength in the marketplace, so it is essential you protect it whenever possible.

You Fail to Use Your Data

Not only must you keep important data away from prying eyes, but you must use the information to your advantage for more accurate targeting. The data you have collected over the years will not only provide an insight into your target audience, but how you have adapted to industry developments, modern technologies and changes in your demographic. With data at your fingertips, you can readjust your place in the market to target the right audience once again.

You Don’t Backup

Many businesses have a legal responsibility to store select data on file for a certain length of time, such as tax documentations, customers’ financial information and employees’ personal data. It is therefore foolish not to back-up data, because you could face a hefty fine from the IRS if you fail to comply to legal requirements. In today’s technological world, there is no excuse for not backing up your files.

You Fail to Retrieve or Wipe Important Data

Many people make the mistake of believing their data has gone forever when hardware breaks, but they could not be more wrong. The data is still available on the system, even if the device is broken. Never throw away a piece of hardware unless you are 100% certain that it stores no important data; otherwise, you should hire secure data recovery services to recover all data before you wipe and dispose of the technology, which could be anything from an external hard drive, desktop computer or laptop.

You also shouldn’t underestimate an SSD, either. You might be tempted to throw the small piece of hardware straight into the bin when it breaks, but don’t. Despite its small size, this little device can be extremely powerful, especially if it falls into the wrong hands.

Your data has value. It can improve your company’s growth, ensures you adhere to legal requirements and can be incredibly dangerous if thoughtlessly thrown away. It is therefore vital you use, protect and recover data for a more profitable business.

About Mohit Tater

Mohit is the co-founder and editor of Entrepreneurship Life, a place where entrepreneurs, start-ups, and business owners can find wide ranging information, advice, resources, and tools for starting, running, and growing their businesses.

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