As companies evolve and adapt to growing data volumes, there are two factors that each organization must consider: how can they use their information to their benefit and how will they store all of it.
Whether one is more important than the other is debatable. Depending on the business, one might carry greater weight than the other. Companies that thrive on data analytics will want to ensure they are getting the most out of their information. Sales and marketing professionals use data to generate more effective messaging and target more specific audiences.
Meanwhile, companies that process massive volumes of information have to be able to store it all. This is particularly important for businesses in financial industries that process terabytes worth of data each day while trying to maintain compliance with various regulations.
Tom Mendoza, vice chairman for data management firm NetApp, spoke recently with Business Today and said, "Efficient data storage a bigger issue than analytics." Mendoza stressed the importance of proper data storage management.
"The amount of data has been enormous for a long, long time," Mendoza said. "That's not new. One of the things I'm careful about is when people get behind a buzzword. Storage grows five to 10 times every five years for an average enterprise and it's important to slow that growth. Why? Because for every dollar you spend on one megabyte of storage, you spend $6 to manage it. Even if it's cheap or free, you spend $6."
To slow the growth of data, companies need to manage it more efficiently. This includes finding and eliminating unnecessary and duplicate data files. By using FileMaker to develop a custom database software system, organizations can allow themselves the ability to properly monitor volumes and take appropriate action to alleviate any issues pertaining to data size. Additionally, organizations that place a greater emphasis on data analytics can use a system of this nature to properly monitor information and gain new, valuable insights.
Regardless of how you prioritize usage, having a custom-built system will help all operations pertaining to data management.