Excess data can get your business into trouble in 2022

“Data is king.” Under this premise, companies have been working for years to use all the information they receive from their activities. marketing, loyalty, machine learningApplications to improve the lives of your customers and employees… The applications are endless, but data overflow could become a serious problem for companies in 2022.

In concrete terms, forecasts point to this Businesses will generate 125 zettabytes by 2025a surplus of data that can only be used by those who manage and extract this information in the right way.

“A lot of companies think they build their business on data, but that’s not true. They either don’t have the capacity and the right technological tools, or they don’t really know what data is important and what it is,” explains Ricardo Labarga, general manager of Dell Technologies in Spain, one of the big companies dedicated to trading with the abundance of data generated by companies.

In this way, according to The Data Paradox reportprepared by the company, 63% of Spanish companies state that “data is an essential element of their organization”, although only 25% treat data as an asset and prioritize its use within the organization.

The problems caused by excess data

One of the big problems with the excess data generated by companies is how to manage it. For example, 61% of Spanish companies state that they are overwhelmed when it comes to handling information, while 59% believe that they have such an excess of data that their cybersecurity systems are seriously compromised.

More than half of Spanish companies state that they are overwhelmed by the data overload.

All this while the problem of excess data continues to grow. “Almost half of Spanish professionals (46%) say that during the pandemic, the data they now need to collect, store and analyze has multiplied. It’s hard to believe that these companies know how to group this data and just use it instinctively,” reflects Labarga.

Faced with this situation, the Spanish companies that survive in the technological environment have to deal with the excess of data by becoming organizations data drivenwhere the very structure of the company with the management of information within its DNA was born.

How to manage excess data?

“Data analytics has been democratized in recent years to allow businesses of all shapes and sizes to access these services. Many of our customers, small and medium-sized companies, dedicate themselves to becoming data-driven companiesemphasizes Raúl Escudero, managing partner of Stratesys, a technology center that specializes in helping companies manage data surpluses.

To achieve this, there are several trends that can give entrepreneurs an approximation of the path they need to take to survive in the business environment of the coming years. First, for the analysis to be efficient, the less we leave out, the better. Therefore, Big Data, being able to manage and analyze a large amount of internal and external data, is the key to transforming your business data driven.

In addition, democratize the data so that it reaches all areas of the company and make decisions according to a clear analytical trend that is much more visual, or work with solutions that allow us to predict what will happen and develop customer retention strategies, Optimizing route models, more effective maintenance plans, predicting absenteeism or identifying the people best suited to a vacancy are some of the future keys to dealing with the data surplus in Spanish companies.

Big data, data driven, data, management, technology, trends