There are more than 64.2 zettabytes of data worldwide, meaning data is everywhere, and more data is being created in volumes every second. With so much data available, companies can collect and analyze data from various sources to gather insights, streamline operations, and more.
You can identify your competitors’ strategies, make data-driven business decisions and grow your company with precise audience targeting and messaging.
Using data can be the difference between success and failure. In our modern day and age, having a wealth of data available can be a blessing, but the sheer volume of data can also be a curse. When you’re overwhelmed with data, overcoming data paralysis can get you back on track.
What Is Data Paralysis?
Data paralysis isn’t what you might think. It’s when there’s so much data and information that it’s overwhelming and prevents you from taking action. You might be unsure where to start or what data is most relevant to the problem you’re trying to solve. You might also be unsure how to best analyze it to inform your decision-making. When you have data paralysis, it can cause you to miss out on opportunities to drive you ahead of the competition.
How Companies Can Overcome Data Paralysis
Dealing with data paralysis can be frustrating, but it doesn’t have to last. Here are a few ways that a company can overcome data paralysis.
Using an ERP
Many enterprise resource planning solutions (ERPs), such as SAP, can help you manage your company’s data. In addition to several ERPs to choose from, there are many certifications that you can get to assist with overcoming data paralysis. For example, this SAP certifications list includes dozens of certification programs to help you master the various aspects of the platform.
When you know how to manage your data effectively and have the tools at your disposal — and the know-how to use them — that large volume of data becomes a goldmine rather than an overwhelming behemoth of information.
There are more than 150 SAP certifications to choose from, and they’re available in over 20 languages. The three main types of SAP certifications you can acquire are:
- Associate Certification: This covers the fundamentals of SAP and proves you have the most basic knowledge and skills for SAP.
- Specialist Certification: This certification is an addition to the associate certification that’s more tailored to a specific role.
- Professional Certification: This certification requires that you prove your experience, business process knowledge, and a deep understanding of SAP.
Taking control of your data is the first thing you should do when you have an abundance of it. Being in control will help you avoid data paralysis and keep you focused on the task. Distilling focus on whatever you’re doing — risk management, marketing, etc. — will allow you to analyze the data without getting overwhelmed.
If you’re analyzing data for risk management, focusing on one risk at a time is vital. Even if you know you have 100 risks, focusing on more than one at a time can force you into inaction because there is too much information to filter through. Focus on one task at a time.
Another way to overcome data paralysis is to increase your data visibility. When you do this, you should be able to make better decisions regarding your business. Seeing all your data in a more digestible manner can help you make more informed and strategic decisions for whatever task you’re working on.
Increasing visibility is an excellent way to overcome data paralysis, but it’s even more critical when making risky decisions. With increased visibility, more people in your organization can see the data and help contribute new ideas.
Gathering different viewpoints and ideas is a positive experience for a company. Having new perspectives can help leave data paralysis in the past.
Fluidity and Flexibility
The more data you collect, the more that the data will evolve and grow. Since data is fluid and flexible, you also have to be fluid and flexible when working with data of any sort. If you cannot be as fluid as the data, you might experience data paralysis.
It’s easy to think you’re going to have one conclusion when analyzing data, but if you can’t put that aside and be open to other decisions, you could be causing more harm to your organization. You could miss the real results and push your company further away from success.
Be sure to analyze the data objectively and refrain from forcing conclusions just because you want a particular result. Allowing yourself to be flexible will bring better insights from your data.
Data helps our world go-’round, but too much of a good thing can be a hindrance. Data paralysis can happen when you’re overwhelmed with data and can’t make decisions. If your company is suffering from data paralysis, it’s not the end of the world. Choosing any of the above strategies will help you overcome data paralysis in no time.