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Publication 18 Nov 2024 · United Kingdom

Data discussions

2 min read
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Data has become a very valuable asset – in many ways, the defining asset of a modern business. It informs decisions in all areas of management. It is vital in processes ranging from sales and marketing to risk mitigation. It is the foundation of the AI revolution and developments like Big data analytics and Data-as-a-service. New ways of refining, using and monetising data are constantly evolving.

In the UK the new government has classed data centres as Critical National Infrastructure, describing them as “the engines of modern life”. But data is not just vital for keeping the wheels turning and the lights on. It is also key to innovation. No significant business development or transformation is likely to succeed without high-quality data.

There are plenty of good reasons for businesses to press ahead with transforming themselves into data-driven organisations and riding the wave of tech-based disruption. Many are rightly concerned about surrendering a competitive advantage and fear the risks of facing today’s commercial world with yesterday’s technology. No-one wants to be a data dodo.

But as businesses amass ever-larger amounts of data at ever-faster speeds from ever-more-various sources, business leaders need a firm handle on how they collect, process, store, manage and use it. Inadequate oversight can easily trigger regulatory problems. Deceptively simple choices may cause major difficulties further down the line. The wrongful use of data can be a massive corporate headache.

In this section of Bandwidth, we look at just a few of the key data issues that business leaders should be aware of. 

If you want to know more about these areas, or any aspects of data protection or management, please get in touch with one of our data experts listed below or your usual CMS contact.

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