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5 Benefits of Carrying Out a Data Discovery

by | May 2, 2023 | Data, Digital Transformation, Uncategorized

Data is one of the most valuable resources that any organisation has, as when utilised correctly, it can be used to greatly improve organisational performance. However, managing high volumes of data is a time-consuming task that many organisations simply do not have the resources or knowledge to correctly handle. In fact, 95% of organisations cite that the need to manage unstructured data is a problem. This can result in missed opportunities, data gaps, and failure to comply with data regulations.

To ensure they are getting the most out of their data, many organisations undergo a data discovery. Data discovery is the process of carrying out a deep dive into your organisation’s data to gain valuable insights. This can be carried out as a standalone task, or as the first step in a digital transformation project. The data discovery process involves working closely with key stakeholders to identify existing challenges and set objectives, before carrying out an audit of your existing technology and systems. Once the audit has been completed, a report summarising findings and presenting recommendations and a roadmap will be provided.

Key benefits of carrying out a data discovery include:

  1. Improved understanding of data – when you are manually managing large amounts of data it can be difficult to understand exactly what data you have, or what data you need. During the data discovery process, your current technology and systems will be audited, with key findings presented to your team in a simplified report, providing you with valuable insights
  2. Identify opportunities and weaknesses – as well as presenting findings, recommendations will also be provided on how your organisation can improve performance. This will include any opportunities that your team can take advantage of, and any weaknesses that your team should be aware of. Alongside the recommendations, a recommended roadmap will be shared that outlines the steps that should be taken to carry out the changes successfully
  3. Compliance with data regulations – there are many laws in place regarding the storage and use of data, including the Data Protection Act and GDPR. When you have one employee or a small team manually managing your data it can be impossible to ensure that you are fully compliant. Failure to comply with these laws can result in serious consequences, including fines, legal action, and a bad reputation. Carrying out a data discovery will allow any potential breaches to be identified, with a plan to rectify them
  4. Improved decision making – unless you are a trained data analyst, understanding and analysing large volumes of data can be difficult. When carrying out a data discovery, valuable insights can be gained from the data, regarding areas including customer behaviour or employee performance. These insights can then be used to improve the decision-making process, as well-informed, data-backed decisions are more likely to create positive, effective results
  5. Increased productivity and efficiency – during a data discovery, recommendations are provided, that if followed, increase productivity and efficiency within your organisation. A clear roadmap will be provided that will clearly outline the steps that must be taken to achieve this

The Cloud Cover IT Digital Transformation team has extensive experience of carrying out successful data discoveries. To learn more about our data discovery process, or to book a meeting, click here.