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The Data Tsunami

The real cost of data mismanagement on your business

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Is your business safe from the data tsunami?

8 June, 2022

Hidden data. 

You may not know about it, but you soon will. Out of sight is certainly not out of mind. Every day businesses amass more and more data, the majority of which they can’t see or manage. Hidden data is the silent storm brewing that will present your business with a very turbulent future. 

It’s easy to ignore as it doesn’t appear to pose any significant threat. It doesn’t demand your immediate attention, but don’t be complacent; hidden data is a silent emergency. It is reported that a staggering 52% of data stored by businesses is invisible. That is data that a business pays to store, but the company has no understanding of the value or risk. 

Not understanding and leveraging your business data is a huge, wasted opportunity and poses a serious security threat. When data cannot be seen, it cannot be controlled, which means a business cannot prepare for any potential risks. By not planning, evaluating, and preparing for these risks, when they do arise, work hours and resources are consumed by dealing with the devastation, and it is likely too late to carry out any meaningful damage limitation (as we have recently seen with the IRS). 

Mail Manager looks at the three main perpetrators harbouring hidden data within your business: 

1. Unmanaged staff communications: 93% of business owners acknowledge that effective communication is the backbone of their business, with employees spending almost 20 hours a week on email or internal communication. Work schedules and locations are becoming more flexible, and companies today rely heavily on a range of communication tools to keep teams in contact and encourage collaboration. Unfortunately, this means a growing amount of unmanaged communication is happening across tools such as Teams and, worryingly, WhatsApp. 

2. Paper-based management systems: An outdated, clunky paper-based system is not a viable data management system in today’s digital world. This system relies entirely on manual processes, which often means data records are inconsistent and open to a high chance of human error.  Add the manual labour required throughout the process and the cost of when things go wrong, and a paper-based system becomes inefficient, risky and extremely costly! 

3. Data silos: Having data silos within the business means that critical data is locked away, not being shared with other teams in the company. What’s worse is that you may not even be aware of growing risks to the business. A business’s legal responsibility is to know where and how data is stored and managed. By not addressing existing data silos, the business is likely not meeting current data management expectations and regulations, which leaves the company open to costly fines or litigation.

How to prevent hidden data

The good news is that many digital tools are available that provide security and visibility over communications and help you safely manage your business data. The problem with most businesses is that they don’t know where to start.  

With email correspondence being a primary method of communication for most businesses, it means staff spend a significant amount of time in their inbox. Therefore, managing all the data and communications directly from the source with an email management system makes sense.  

Mail Manager helps businesses keep on top of data management by using AI and machine learning to help staff file all correspondence and attachments directly to a business’s chosen location and ensures all information is accessible within just a few clicks.  

Don't let your business fall victim to a data tsunami, download our helpful guide here and make sure your data is protected.

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Discover how Mail Manager can help save your business from a data tsunami with a free trial of the solution.   

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