Published on Feb 15, 2023 By: Jeff Dunning, Director of Corporate Cloud Services, PRESA Consulting
A data inventory is an essential aspect of modern businesses as it helps organizations keep track of their data assets and ensure that their data is managed efficiently and effectively. In this blog, we will discuss what a data inventory is and why it matters.
Catalog of the company’s data assets:
A data inventory is essentially a catalog of the company’s data assets, maintaining a comprehensive record of the information resources in an organization. This information is essential for companies to understand the data they have, where it is stored, and who is responsible for it.
Collection of essential data:
Data inventory also involves the collection of essential data, including its name, address, email address, and other key data. If set up and managed properly, a data inventory offers valuable insights regarding the data collected by an organization, as well as its location, access, and use. Moreover, the data inventory also stores details about how the data is used with regards to other data, i.e. the type of data being used, who is using it, and how it is being used throughout the company.
Provides insights into data footprint:
A data inventory provides valuable insights into the company’s data footprint, including information about the size and distribution of the data, as well as information about risks and any duplicates or redundancies in the data. This information is essential for companies to understand their data footprint to increase efficiency, reduce risk and comply with regulations.
Essential for privacy compliance:
A data inventory is also essential for privacy compliance, as it helps companies understand the data they have, where it is stored, and who is responsible for it. This information is essential for companies to meet their privacy obligations and ensure that their data is managed efficiently and effectively.
Allows companies to identify and mitigate any risks associated with their data:
Finally, a data inventory allows companies to identify and mitigate any risks associated with their data, including data breaches, data loss, and data theft. By understanding their data footprint and the risks associated with their data, companies can take steps to mitigate these risks and ensure that their data is secure.
In conclusion, a data inventory is an essential aspect of modern business as it helps companies keep track of their data assets, understand their data footprint, and ensure that their data is managed efficiently and effectively. By having a comprehensive data inventory in place, companies can identify and mitigate any risks associated with their data and ensure that their data is secure.
If your data inventory issues are a result of moving to M365 too fast during the pandemic, check out our workshop offered through Microsoft here.
To learn how a data map can help you find where your data lives, click here.
