Small Data: Advantages And Data Governance

Small Data: Data analysis is transforming the way companies operate. After all, to stand out in the market, organizations must make their decisions based on data. This is because, with the necessary information, it is possible to take more strategic actions.

In this sense, much is said about Big Data, an area of ​​knowledge that seeks to collect, process, and analyze a large volume of data. However, in addition to this concept, there is also Small Data. Ever heard of it?

As much as the term is lesser known, it can bring countless benefits to your business. So, if you still need to learn about the topic, don’t worry; we’ll cover it throughout the content!

Concept

The term means “small data.” Therefore, it concerns the processing of a smaller amount of information. With that, what matters is quality, not volume.

Undoubtedly, even more so with the age of technology, an immense amount of data is available. For this reason, treating all of them is not a simple task. Thinking about it, Small Data changes this scenario, in which the concept is to analyze only the information that can bring real meaning to a company.

So, to implement this strategy, you need to look for personalized data. Therefore, many brands conduct surveys with their consumers to arrive at the desired answers. Here, the responsible professionals seek to understand the persona’s reality, customs, and desires.

Four Advantages

Now that you understand better what the concept is about, how about learning its benefits? Check it out below!

• Personalization: Creating a personalized connection with the customer will enhance their brand experience. In addition, having detailed information about the persona will allow you to create the right products to help them.
• Brand value: By knowing the desires and needs of potential consumers, your brand will be able to satisfy the customer, making them value the company more.
• More strategic decisions: with a data analysis focused on customers, your organization will be able to make more proactive decisions since it will have more direct and intelligent information.
• Ease of gathering data: dealing with a large volume of data can be challenging. Therefore, with a reduced amount, you can practically analyze them.

So, how about ensuring all these benefits for your company? So start applying to your strategies!

Data Governance

With digital transformation, data production is becoming more and more. Therefore, companies need to know how to handle this information properly to avoid problems like leaking customer data.

And in this sense, data governance emerged, a set of principles that manages this information from acquisition to disposal.

If your company is still not concerned about this situation, it should change that thinking immediately. Because managing the data of an organization has become a fundamental part of success. Therefore, read on if you want to know more about the subject, such as its concept and benefits!

What Is Data Governance?

Data governance is a set of processes, functions, standards, etc., that seek to ensure efficiency in the use of data, that is, that they are treated with complete security and that they generate important information to help companies achieve their goals.

This set of rules is responsible for defining every detail so that the data is used in the best possible way. Among its functions is the definition of who will be able to handle each piece of information in a given situation, the methods used, and much more.

And having this strategy in companies has become even more essential these days. This is because, with the advancement of digital, new laws and regulations related to data protection are emerging. Therefore, being aware of these factors is essential to ensure that your company complies with all the standards established by law.

Importance Of Data Governance

Now that you’ve learned more about data governance, do you know why to apply it to your company? Below, we select the main reasons. Look!

More Assertive Decisions

With data governance, everyone in your company will be able to have the information they need to make the best decisions for the business.

This is because, through data, it is possible to reach better and serve customers, design and optimize products, and much more.

Compliance With Laws

With an increasingly complex regulation, companies must rely on data governance practices to ensure that all actions are carried out correctly.

More Security

By complying with all internal and external standards, your company will be able to pass more security to customers and suppliers, thus making them feel comfortable doing business; after all, they will not have problems passing on personal information.

Risk Reduction

With effective governance, your organization can reduce concerns about exposing important information to unauthorized users.

Conclusion

Data analysis is fundamental for every company that wants to succeed in the market. After all, this technique makes decisions more strategic and assertive.

With that in mind, a concept that can help at this point , which refers to a more personalized collection of information. After all, there is direct contact with consumers to identify their desires, needs, and much more.

Without a doubt, knowing how to handle data related to your company is essential to guarantee several benefits, such as reducing errors and creating more powerful strategies.

Therefore, data governance can be the ideal solution in this sense, as it has a set of techniques to manage important information from acquisition to disposal.

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