As businesses rely increasingly on data-driven operations, the importance of efficient data management cannot be overstated. However, with great data power comes great data responsibility🕸️.
The digital landscape is rife with potential risks that could jeopardize your organization’s most valuable assets. In this article, we present an infographic that sheds light on the critical risks associated with data management and offers actionable insights to fortify your data protection strategies.
Unveiling Data Management Risks: Safeguarding Your Digital Assets
Understanding the Data Management Risks
One of the most alarming data management risks is data loss. According to Truelist, a staggering 94% of companies that experience severe data loss never fully recover. Don’t let this risk leave your organization vulnerable and crippled.
Data loss can also be attributed to human error, accounting for three of the main causes. Minimizing human errors through proper training and data governance is paramount to safeguarding your data.
Poor data quality can lead to significant financial losses, amounting to $15M per year for organizations, as reported by Gartner. Ensuring data accuracy and reliability is essential for making informed decisions.
High Operational Costs
The proliferation of unstructured data can result in operational inefficiency and increased costs, estimated at $2.5M per year, according to Indicodata. Employing middleware solutions can optimize data management and drive cost savings.
Forbes reveals that 66% of SMEs have experienced cyber attacks within the past 12 months. Strong data security measures are crucial to protect your organization from evolving cyber threats.
Data Management: Embracing Middleware Solutions
To address these data management risks, consider leveraging middleware solutions—an intermediary layer that connects applications, tools, and databases. This solution offers numerous benefits, including:
Facilitating Data Flow: Streamline data integration, harmonize formats, and ensure traceability between applications and systems.
Managing Data Quality: Monitor data quality in real-time, detect issues, and implement corrective actions to maintain clean and reliable data.
Establishing Data Governance: Enforce data governance policies, ensuring quality, confidentiality, compliance, and controlled access to sensitive information.
Diversifying Cloud Providers: Avoid over-dependence on a single cloud provider, mitigating business continuity risks through abstraction layers.
Enhancing Data Security: Protect sensitive data with encryption, authentication, access control, and monitoring mechanisms, safeguarding against breaches.
Educating Employees: Implement regular training, internal communications, and clear security policies to promote a culture of collective cybersecurity responsibility.
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Are you ready to test our solution and improve your data integration? We offer a 30-day trial! Click here for your free trial and discover how Marjory can simplify your data management starting today.