The document discusses the challenges and costs associated with inefficient data management in businesses, emphasizing that companies often waste significant time and money searching for valid documents. It outlines key cost-effective strategies for data management, including database consolidation, exploring existing databases, implementing custom solutions, utilizing open-source tools, and leveraging external services. Cogneesol, an ISO-certified organization, offers tailored data management solutions to help businesses improve efficiency and reduce costs.

1. C O S T
E F F E C T I V E
T A C T I C S
I N D A T A
M A N A G E M E N T
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Submitted By Cogneesol

2. D A T A M A N A G E M E N T
Data is not at all useful unless you can derive
result-oriented information from it. The biggest
problem with business data is its MANAGEMENT.
Data management involves storage, validating &
processing.
As we all know, the amount of data increases day-
by-day exponentially and companies are wasting
two-third of their precious time only in finding if
the document's version they have retrieved is
authentic or not.

3. In the U.S., a typical professional services
executive spends 89 seconds looking for
that long-lost document
Working on an average 26 documents a day
that amounts to an average hourly rate of
$265 lost in billable time.
Think of it this way: Each month, a firm is
losing an average of $3,747 per employee.
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2
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The difficulty over lost data may be costing a
business enterprise thousands of bucks each year
According to a survey by Huddle (a cloud collaboration technology company)

4. Key cost-cutting tactics in Data
Management & integration
To cope up with the competitive business environment, businesses
should take advantage of data management operations that offers
numerous affordable opportunities for reducing & controlling costs.

5. 1
Need to consolidate
operational database:
Consolidating the redundant
database is a good opportunity for
business to reduce costs. The
expenditure in maintaining huge
database ranges between thousands
to millions of dollars. Consolidating
operational data can potentially
decrease the cost by 15% to 25%.

6. 2
Take into account database
already in use:
Developing new database consumes
both time & efforts. In general, the
organizations are actually poor at
using the available database related
to assets. The teams within the
enterprise prove that they can’t
leverage the already built artifacts
before creating the new one.

7. 3
Implement custom coded
architecture:
Deviating towards custom code,
which can fulfill the business
demands efficiently rather than
spending on the expensive software
tool has a significant impact on the
cost aspect.

8. 4
Explore open sources:
Deferring the purchases of paid data
integration tools will generally result
in cost savings in the range of
$100,000 to $500,000.

9. 5
Leverage External Services:
Many organizations leverage the
external resources in order to
augment their enterprise skills and
staff while initiating their data
management integration.
Organizations should partner with a
reliable to achieve
operational excellency.
service provider

10. C O G N E E S O L
Cogneesol is an ISO certified organization that excels in delivering outstanding
business services since 2008 to different business industries. Our team of experts
strive to provide innovative, secure and technology driven business solutions. With
the expertise and experience in the outsourcing business services, we provide
customized that fit appropriately as per your needs.
R i g h t O u t s o u r c i n g S e r v i c e s P r o v i d e r
P A R T N E R W I T H
data management solutions

11. Phone: +1 646 688 2821
30 Wall Street,
8th Floor
New York,
NY 10005-2205
F O R C O N S U L T A T I O N S
REACH US
TODAY!
info@cogneesol.com
www.cogneesol.com