18 Dec Three Big Data risks, and how to avoid them
Any company that isn't at least considering the use of Big Data puts itself in danger of falling behind the competition. It's hard to keep up if you're working with far less information than others in your industry, so keeping abreast of current trends is virtually imperative. If and when you do dive into the world of custom database software, it's important to be aware of the risks. Here are three of the big ones — and how you can navigate around them.
1.) Dexterity loss
If you have multiple levels to your company, data has to scale to fit all of them. In order for management to make accurate decisions, it needs to have immediate access to the information. At the same time, others in the organization need to be able to see relevant data as well, so that they can implement any changes made. Getting it from one branch of your business to another can cost valuable time.
To avoid this pitfall, carefully consider structure before you implement any sort of database. A mobile platform like FileMaker can help easily sync findings across devices, so it's just as easy to access from a worksite as it is behind a desk.
2.) Financial loss
There's not question about it, Big Data takes some initial capital. If not used properly, all the money used to set up the programs will largely be wasted. A company that isn't on the same page runs the risk of not fully investing in the principles, and not getting the most out of the entire process.
That's why it's so crucial to have a game plan before you begin spending money. FileMaker consultants can help make sure you get the most out of your software, and provide a course of action that sets your company up for success.
3.) Security Loss
The more data you're using, the more data is available to be hacked or otherwise compromised. Especially if you're in an industry, like healthcare, where information can be sensitive or proprietary, if not carefully guarded, there is an inherent risk of a security breach.
So, it's critical to know the rules of your industry before you begin collecting data points about your customers. Carefully research any laws or statutes, and consider investing in insurance to minimize your liability. Limit access to software to those that require access, and transparently disclose what data you collect, and what you use it for.