For data-driven companies, information is a critical business resource. It must be organized, analyzed, and accurately classified. The importance of data retrieval can become a painstakingly apparent task without proper management and accurate data classification. The importance is highlighted when we consider that unstructured or unclassified data can even cause compliance violations or legal issues, and it can lead to an incomplete understanding of your data.
Did you ever have to quickly and accurately search through large amounts of data from multiple sources to find a file? With Aparavi’s search and classification features, you can find what you need, when you need it across any location, from a single user interface.
Data protection is a legal necessity that businesses and organizations must observe at all times. It is also crucial for your survival and profitability as a company. If you’re managing a data-driven company, you’ll inevitably handle personal and sensitive information, both from your clients and your employees. The data you’re working with might be protected by privacy laws and regulations like the GDPR and the CCPA.
Legal compliance with data privacy laws is not the only reason you need different levels of protection. The right data classification is also important for gatekeeping and limiting access. Within your organization, information exchange exists for proper communication and teamwork. Ideally, pieces of information must be tagged based on their importance and level of restriction. For example, business reports, memos, or sales records can be classified as either confidential, internal, restricted, or public.
By properly tagging documents and records with their corresponding levels of protection, you can retrieve data more efficiently. For example, a piece of information tagged as “restricted” can easily be identified and separated from other types of data, and access can be restricted accordingly.
When the time comes that you need to retrieve non-sensitive information, for example, someone who has only access to “public” or “non-confidential” classification can save their time and effort by skipping restricted data types.
Do you handle data that changes its status on a specific date? Or have you ever needed to sift through data based on the time of creation, last time of update, or last time of access? These are only a few of the useful parameters that you’ll find necessary when organizing and managing large amounts of information.
Accurate chronological data classification cannot be overemphasized, especially when you’re considering deleting obsolete information or updating the appropriate level of data privacy. With the accurate classification of data, you can add a time element to various pieces of information. This easy retrieval of data will allow you to find, identify, and execute processes based on chronological significance.
By classifying data according to time, you can efficiently retrieve information that’s relevant to a specific quarter, period, or fiscal year. This eliminates the need to go through a huge database, especially if you’ve been operating for years or decades.
Efficient types of data retrieval occur when you can understand or see the big picture of your data history. You can quickly compare different phases in your business’ lifecycle and see their relationship with each other through data.
Accurate classification of data not only helps you apply the right level of protection, but it also helps you avoid unnecessary restrictions. When complying with privacy laws and regulations, your organization needs to put data restriction systems in place. This can cost money, time, and effort. But have you considered whether you’re creating unnecessary restrictions and enforcing security measures on irrelevant data?
Properly classifying data can prevent you from restricting or hiding information unintentionally. You can cut costs on data storage and protection and also make it easier for your staff to find the information they need. It can be frustrating when you are required to file a request for access to data that should not be restricted in the first place.
Certain workspaces and corporate cultures embrace working independently with minimal supervision. With remote work rising in popularity recently and in 2020 becoming a necessity for many companies, this is becoming true for more organizations. Part of working independently means finding the right information quickly and efficiently on your own.
Inaccurate classification of data can prevent this from happening seamlessly. There can be delays, frustration, and missed deadlines when you’re creating unnecessary levels of security. An effective way to prevent this is to classify data and information databases accurately, right from the start.
Data duplication is one of the most problematic pitfalls of inaccurate classification and management. The consequences can range from something as simple as paying for unnecessary storage costs, to something more serious such as the failure to comply with data privacy laws.
Have you ever had the same record or piece of information stored multiple times in the same or different database? Data duplication can make your systems run slower and make data retrieval, analysis, and interpretation more difficult.
You can avoid skewed metrics, poor reporting, and a bad reputation by classifying data more accurately. For example, by having duplicate customer records, you can have more than one representative reach out to the same person. This inaccuracy in data retrieval can make stakeholders feel that you are not properly handling sensitive information. This can result in poor customer experience and poor reporting or data analysis on your end.
Removing duplicate data is a necessary task. You’ll need to organize information to improve the accuracy of reports and improve the quality of your business operations. However, this can cost you significant time and money, especially if you’re a data-driven business. One of the ways you can prevent duplication in the future is by implementing accurate classification right from the beginning.
When it comes to managing data for efficient retrieval, you can never underestimate the importance of accurate classification. It doesn’t have to take so much of your time or effort. By using Aparavi’s data intelligence and automation platform, you can parse, classify, and tag your data for efficient discovery, retrieval, and utilization. You can reduce risks, remain compliant, and save lots of time and effort. Contact Aparavi today and discover how you can become more efficient when it comes to handling data.