Today, data breaches are becoming bigger and hackers are becoming savvier. As a result, this has increased the number of data breaches. In 2017, over 130 large scale targeted breaches happened in the US.
This number is increasing every year by 27%. During the same period, over 400,000 machines and 100,000 businesses in at least 150 countries were infected by the Wanna cry virus. The total cost of the breach was $4 billion.
What this shows is that managing data should be a top priority for all businesses. By protecting customer data, you establish a long-term relationship with them.
In this post, we discuss 5 tips for managing data that you have gathered from your customers.
1. Have Transparent Data Collection Policies
In 1995, the EU passed a legislation called the Data Protection Directive. This legislation was adopted at a time when the internet was barely 5 to 6 years old. In 2016, the EU adopted the General Data Protection Regulation which many people refer to as the GDPR.
This law has changed the way companies in Europe collect and process customer data. The purpose of the law is to explore data protection certifications by granting seals and marks to companies. As such, it helps to reinforce consumer confidence.
As a business, following the GDPR regulations can boost customer confidence. That is, being transparent in managing data and organizing it. Don’t keep your customers in the dark about your data collection policies.
2. Invest in AI-Infused CRM
Businesses that take data seriously invest in AI infused CRM. Why? The customer information management software organizes and collects crucial customer data. The software can also segment your customers’ insights based on certain factors.
This is great as the business can identify new opportunities. Other benefits of having an AI fused CRM is that all your data will be in one place – client database management.
Thanks to its AI capabilities, you can track customer interactions and get an accurate snapshot of the information.
3. Backup Your Customer Data
In the US, over 140,000 hard drives fail each week. Of these, 29% of hard drive failures are as a result of accidents. What you need to know is that 58% of small businesses are not prepared for data loss.
If your business is not prepared for data loss, make data backup and recovery plans a priority. That means investing in cloud backup services. By doing so, you ensure that your customer data is secure and also available to you anytime.
Having backups for your backups makes your business a reliable partner.
Learn more about intelligent syncing and sync apps to help you control your data.
4. Train Your Employees
Most businesses imagine that external threats are more damaging than internal threats. Well, they are wrong. Imagine a scenario where an employee ends up deleting files from the company servers.
This is devastating to the business especially towards its marketing efforts. By training your employees on customer data management, you avoid such scenarios. Also, it imparts your employees with skills on how to handle and interpret customer data.
Remember, it’s a good idea to have a BYOD policy.
5. Have a Data Clean-Up Plan
It is important for every business to have a data clean-up plan. With such a plan in place, businesses can validate and update customer information. For instance, you can update phone numbers, home, and email addresses.
Also, you can remove duplicates, and delete old contacts. This enhances the value of your data. Before starting the cleansing of your customer data, consider the following:
- Carry out a data audit
- Ensure your customer data is consistent
- Centralize your customer data in all your departments
Want to avoid mistakes and ensure your customer data is of high quality? Have a data cleaning plan in place.
Managing Data Effectively to Prevent Data Breaches
Do you want to avoid a major data crisis in your business? Start managing data responsibly and strategically. By doing so, not only do you get to secure your customer data but you add significant value to your customers.
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