Data is currently growing at an exponential rate and is forecast to expand extremely rapidly over the next few years. Current trends suggest that by 2025, global data creation will reach more than 180 zettabytes. Large volumes of information are shared and processed both by businesses and for private use. While the majority of personal data does not necessarily need to be stored, businesses do need to have a data strategy and database in place.
For most businesses, however, this is easier said than done. In South Africa, there is a huge skills shortage when it comes to data engineers. For small to medium-sized businesses, having an in-house data management team doesn’t make financial sense. For large organisations, high volumes of data and complex IT infrastructure can make data management difficult.
Businesses of all sizes can benefit from a third-party professional to manage their databases and enhance the business value that data brings. 4C offers world-class database support and information management services to enterprises in Africa, particularly those in the telecom and financial services sectors.
The benefits of using a third-party professional to manage your data
Data engineers have specialised knowledge and experience. They are able to find faults in systems and optimise data management. As new technologies emerge, data engineers constantly have to refine their skills. The benefit of outsourcing business data management means that companies have access to expert consultants who are at the cutting-edge of their field.
With a managed service, companies do not have to employ or upskill staff with specialised skills. Third-party services, such as those offered by the 4C Group of Companies, improve efficiency and productivity with behind-the-scenes database support. Round-the-clock monitoring means that downtime and disruption are minimised, allowing businesses to focus on their daily operations and core offerings.
Why is database support so important?
In many countries around the world, including South Africa, businesses are legally required to protect data against security breaches, data loss and theft. The Protection of Personal Information Act (PoPIA) came into effect in 2020 and it compels South African businesses to ensure they manage and maintain their data in full compliance with the relevant regulatory prescripts or face legal sanction. Using a third-party professional to manage business databases ensures compliance, mitigates risks and supports enhanced governance.
Data is revolutionising business models and this is another reason why data management is so important in our current economic climate. These days, business growth strategies need to align with insights from data analytics. Automated processes that can take advantage of big data guide business leaders and inform marketing strategies.
Effective data management also involves tracking customers’ digital journeys, as well as targeting new customers with personalised products and services. Business operations can be streamlined, particularly with administration and billing. Without an effective data strategy, businesses will not be able to sustain their digital transformation.
How can a business improve data management?
Information and data management is not just about giving files the right names and saving them in the correct folder. Businesses can improve their data management by having plans and strategies in place that dictate how databases will be designed, organised, structured and monitored.
Analysing large data sets requires data evaluation and reporting tools. Through a managed service, businesses can enjoy the most up-to-date technologies and advanced features of database management without having to constantly upgrade their IT systems and retrain staff.
Why is database security and data accuracy important?
Preventing data loss and unauthorised access to databases means that businesses can protect valuable information, including sensitive financial information, personal customer details and confidential intellectual property. Data security is essential, so having control over who has access to it is another factor that enterprises need to consider. Businesses need to have advanced encryption tools in place, as well as database authorisation policies.
Keeping track of activity gets more complex as companies scale their operations. It is necessary to eliminate data redundancy. Having multiple copies of the same information takes up space and can skew the results of analytics. Accuracy is essential if business insights are to be derived from those data sets.
What data management services do businesses need?
As we move into the digital age, businesses need a data management system that can handle all business data with the ability to collect, store and disseminate information across different management functions. Having a robust Management Information System (MIS) that includes application management, gives businesses better control over their data.
On the customer side of things, having a Customer Relations Management (CRM) system allows companies to manage customer interactions for both current and potential clients. Automated sales, marketing and customer support helps to reduce costs. Customer relations can be improved through data-driven insights, with analytics showing each step of the customer’s journey, from first contact to their after sales experience.
Third-party data management professionals like the 4C Group of Companies offer a wide range of data services designed specifically for your business. With so many companies migrating to the cloud, ICT ecosystems are becoming increasingly complex. The 4C Group also offers a mediation service that bridges the gap between local and remote servers. Data collection and distribution is streamlined, supporting your administration team to use that data and report on what’s going on.
Specialised data management for billing
For companies that use customer subscription models, billing can be streamlined with a converged billing platform. This allows for the automated management of billing for calls by calculating the charges based on data records and the client’s information. Drawing on different data sets is one example of how a data management system can improve billing transparency and accuracy.
Billing related to network operators can be complex as even more data sets need to be analysed and factored in. The 4C Group’s iNSight™ interconnect billing system automatically calculates the amount paid to and received by each operator, steamling financial management and improving visibility of what’s happening with each network operator.
Hiring the right third-party professional to manage business data
With years of experience in information and data management, 4C Group of Companies gives South African companies peace of mind that their data is being optimised to create the best value for their business.
As a business-to-business (B2B) service, we understand the needs of South African enterprises, ensuring that our expert data engineers created tailored solutions for your company. Outsourcing your database management to a team of professionals will help to improve efficiency, boost potential revenue and cut costs. For more information about our database management solutions, please contact us today.
At 4C Group of Companies, we strive to effect operational changes and cost savings for customers through our iNSight product and associated services. This product’s main function is to re-purpose and deliver business-critical information to a variety of systems and stakeholders.
We specialise in information assurance, business assurance, FinTech solutions and a variety of business systems. For more insights into our products and services, check out our blog page or follow us on Facebook and LinkedIn.