A smart move when reviewing data storage costs in your business is to have Finance, IT and Marketing players collaborate in that discussion.
Why on earth would I have IT and Marketing involved in data storage reviews I hear many of you ask?
It’s because often decisions about data storage are made in isolation. Valuable data to Marketing for customer analysis which leads to growth decisions about services, products and communication, or customer experience journeys (CX) may not be apparent to IT. They could assume to delete valuable data if they are not informed.
Equally IT can assume all data is valuable and has to be stored, unless Marketing inform them, you could be paying for a lot of data storage you simply don’t need.
How impactful all this is on your actual data storage costs, in comparison to the time it takes and that cost to your business for IT and Marketing specialists to discuss it, is certainly one for Finance to guide you on.
Having the right people collaborate on strategic decision making in your business protects growth and cashflow.
Data storage isn’t just for IT, and you don’t need to store everything. You just have to decide what, including compliance like the GDPR!