By using this site, you agree to the Privacy Policy and Terms of Use.
Accept
SmartData Collective
  • Analytics
    AnalyticsShow More
    data-driven image seo
    Data Analytics Helps Marketers Substantially Boost Image SEO
    8 Min Read
    construction analytics
    5 Benefits of Analytics to Manage Commercial Construction
    5 Min Read
    benefits of data analytics for financial industry
    Fascinating Changes Data Analytics Brings to Finance
    7 Min Read
    analyzing big data for its quality and value
    Use this Strategic Approach to Maximize Your Data’s Value
    6 Min Read
    data-driven seo for product pages
    6 Tips for Using Data Analytics for Product Page SEO
    11 Min Read
  • Big Data
  • BI
  • Exclusive
  • IT
  • Marketing
  • Software
Search
© 2008-23 SmartData Collective. All Rights Reserved.
Reading: How Data Hoarding Is Costing Your Business
Share
Notification Show More
Latest News
ai in software development
3 AI-Based Strategies to Develop Software in Uncertain Times
Software
ai in ppc advertising
5 Proven Tips for Utilizing AI with PPC Advertising in 2023
Artificial Intelligence
data-driven image seo
Data Analytics Helps Marketers Substantially Boost Image SEO
Analytics
ai in web design
5 Ways AI Technology Has Disrupted Website Development
Artificial Intelligence
cloud-centric companies using network relocation
Cloud-Centric Companies Discover Benefits & Pitfalls of Network Relocation
Cloud Computing
Aa
SmartData Collective
Aa
Search
  • About
  • Help
  • Privacy
Follow US
© 2008-23 SmartData Collective. All Rights Reserved.
SmartData Collective > Big Data > Data Mining > How Data Hoarding Is Costing Your Business
Big DataData MiningData Warehousing

How Data Hoarding Is Costing Your Business

EphraimCohen
Last updated: 2013/09/20 at 8:00 AM
EphraimCohen
4 Min Read
SHARE
- Advertisement -

The ability to collect and analyze large amounts of data is one of the most useful developments in business technology. With this data, businesses not only provide better customer service, but they can also improve their advertising campaigns, perfect their products and manage their reputation based on the results of data analysis.

The ability to collect and analyze large amounts of data is one of the most useful developments in business technology. With this data, businesses not only provide better customer service, but they can also improve their advertising campaigns, perfect their products and manage their reputation based on the results of data analysis.

However, in order for this data to be helpful, it must be chosen carefully, well organized and properly evaluated. Simply keeping every piece of data a business can collect is not only useless, but it can also be harmful.

- Advertisement -

Understanding Data Hoarding
Data hoarding occurs when a business collects and keeps way too much data. The business may collect and store data it doesn’t need or it may fail to remove duplicate entries from its database. This often occurs when a business doesn’t have a proper plan in place to decide what should be saved and what should be discarded. Research has shown that data hoarding is common, with up to 80 percent of the average company’s active files remaining untouched for three or more years.

Dangers of Data Hoarding
Data hoarding can cause several significant problems, including the following:

More Read

data-driven image seo

Data Analytics Helps Marketers Substantially Boost Image SEO

Data Visualization Boosts Business Scalability with Sales Mapping
Data-Driven Marketing Offers Huge Benefits for Landscapers
What Role Does Big Data Have on the Deep Web?
Fascinating Changes Data Analytics Brings to Finance
  • Wasted storage space: When businesses continue to store excess data, they waste costly resources, including object-based cloud storage. Even though storage space in the cloud is relatively inexpensive, the business still loses money.
  • Legal issues: The more data a company stores, the more data it’s responsible for protecting. If hackers access the company’s databases, the company will face lawsuits and legal sanctions for every piece of information that’s compromised.
  • Decreased productivity: With so much unnecessary data to sift through, employees can’t be as productive, which costs the business time and money.
  • Diminished employee effectiveness: Excess data storage leads to poor organization. When a company’s data isn’t organized properly, the inability to locate needed information quickly results in employee miscommunications and poor customer service.

Prevent Data Hoarding
To avoid all the problems that can arise from data hoarding and improve the effectiveness of data collection and analysis, IT managers should develop a comprehensive data retention policy that applies to all levels of the company:

IT managers should carefully consider which pieces of information are important for the company to organize and store and which should be promptly discarded.

They should also create a detailed procedure that employees can use to ensure that no unnecessary data or duplicate entries make their way into the company’s databases.

- Advertisement -

The company should solicit feedback from employees and management at all levels of the company to make sure that everyone understands the policy and knows how to properly implement it.

No matter what industry a company is in, it’s inevitable that the company will need to store and utilize data. However, storing too much data can be almost as dangerous as failing to store enough. To get the most out of data storage and analysis, companies need a solid collection, storage and organization plan that will prevent data hoarding and allow them to use their data effectively.

EphraimCohen September 20, 2013
Share this Article
Facebook Twitter Pinterest LinkedIn
Share
- Advertisement -

Follow us on Facebook

Latest News

ai in software development
3 AI-Based Strategies to Develop Software in Uncertain Times
Software
ai in ppc advertising
5 Proven Tips for Utilizing AI with PPC Advertising in 2023
Artificial Intelligence
data-driven image seo
Data Analytics Helps Marketers Substantially Boost Image SEO
Analytics
ai in web design
5 Ways AI Technology Has Disrupted Website Development
Artificial Intelligence

Stay Connected

1.2k Followers Like
33.7k Followers Follow
222 Followers Pin

You Might also Like

data-driven image seo
Analytics

Data Analytics Helps Marketers Substantially Boost Image SEO

8 Min Read
data visualization for small business
Data Visualization

Data Visualization Boosts Business Scalability with Sales Mapping

7 Min Read
landscape marketing secrets
Big Data

Data-Driven Marketing Offers Huge Benefits for Landscapers

8 Min Read
big data technology has helped improve the state of both the deep web and dark web
Big Data

What Role Does Big Data Have on the Deep Web?

8 Min Read

SmartData Collective is one of the largest & trusted community covering technical content about Big Data, BI, Cloud, Analytics, Artificial Intelligence, IoT & more.

giveaway chatbots
How To Get An Award Winning Giveaway Bot
Big Data Chatbots Exclusive
data-driven web design
5 Great Tips for Using Data Analytics for Website UX
Big Data

Quick Link

  • About
  • Contact
  • Privacy
Follow US

© 2008-23 SmartData Collective. All Rights Reserved.

Removed from reading list

Undo
Go to mobile version
Welcome Back!

Sign in to your account

Lost your password?