Performance management has always been a business staple, allowing business owners to set achievable performance indicators and track analytics from one source of truth. But, in this age of big data, it’s plain to see that the 65% of companies still attempting to tackle this with annual, manual processes are soon set to fall behind the curve. In fact, it’s this attachment to outdated processes that are largely driving the fact businesses at the moment typically use just 12% of available data.
Not only do these processes cost in time, but they also stand to set companies back in terms of data quality and processing on a broader scale. This alone could spell trouble in a year where data influx is only set to rise. At least, it could if business intelligence-led alternatives don’t get a look in.
Now leading the way with data storage and performance at heart, centralised performance management systems are becoming a business must. Unfortunately, many companies remain hesitant due to halting data migration plans. With this cost-effective solution the only way to stay on top, it’s past time to settle on the best ways to transfer data sooner rather than later. And, we’ve got a simple guide to help you do just that.
# 1 – Decide what data to carry over and the process to use
Because you’re carrying over existing data to a new system, you need to decide exactly what data you want to take. Taking over your current data makes sense, but you need to also consider whether your historical data will be required. Will you eventually want a backlog of data that you can go back and review to find trends and patterns? Would you just want the data on hand for your records?
Consider this before you start so you can have a better idea of how much data you’ll be taking across and whether that may make the process take longer.
Decide between augmentation or rip and replace
Businesses considering data migration processes must choose between two main migration options: augmentation or rip and replace. The prior involves implementing two strategies alongside each other and funnelling new data solely into the latest management system until old data, and thus the previous management system, is no longer necessary. A rip and replace approach involves switching to a new platform as soon as possible, using increased preparation and accelerated processes.
Both implementations can prove useful for different reasons, and deciding which is best for you will include critical considerations such as:
Your migration budget
Time-frames
The amount of data you’re handling
# 2 – Focus on future data processes
Given that your data migration strategy is such a significant undertaking, it’s also vital to consider how and why you use data now and in the future. Remember, it’s expected that we’ll have access to 40 trillion gigabytes of data by the end of this year. That’s a lot of information, and attempting to migrate all the data you have into new systems is going to take time and cost money that may not even be necessary.
Remember that you don’t want to clone performance management reports you’ve already developed. While all data can undoubtedly continue to hold worth, then, genuinely think about whether the information you’re transferring has value as you move forward. Given that 90% of the world’s data has emerged in the last two years alone, this consideration is especially important for any data storage older than that.
If it helps, consider your migration as you would a house move. You may think you can’t part with that outdated leather sofa because it was once worth so much, but moving with a hefty chair that no longer fits your purposes will never be practical or cost-effective. Nor will migration that relies on data you’ll never use again. So, be clear ahead of time about your future data processes, and the information you truly need to implement them. Then, let the rest go.
# 3 – Consider cloud migration
83% of enterprises now use the cloud for a range of business benefits, including remote work, increased security, and more. This focus can also help a great deal with data migration projects. While it can still be time-consuming, storing data in the cloud ahead of connecting with a centralised performance management system is invaluable. For one, it provides you with a data warehouse that even outside companies can easily access. With many centralised systems also operating through cloud interfaces, this method should make data integration surprisingly simple for many years to come.
Success with this data migration strategy largely relies on your ability to develop a reliable cloud-based data migration plan, covering key considerations such as whether you want to proceed using:
A bi-directional syncing system
An on-premises database with one-way synchronisation
A cloud data migration service
Time-frames also play a part, with many businesses preferring to transfer small amounts of data over a set period rather than tackling everything at once. Either way, once your data is in the cloud, storage migration never needs to be a headache again.
# 4 – Select the ideal system for your needs
There is now a range of centralised performance management systems available businesswide, and each provides a different focus. Your next step in this migration quest is to select the ideal system for your purposes. Whether you target databases that focus on key performance indicators or broader data analysis, tailoring your selection guarantees you understand the exact migration necessary ahead of time. With such considerations also allowing you to target systems with cloud capabilities if that suits your needs, simplification is sure to come within much easier reach.
Migration aside, finding the ideal centralised performance management system ensures that you gain the results you’re looking for, including trackable KPIs that boost profits and performance. While these benefits won’t help you to transfer data in itself, they will at least ensure that the time and money you put into the matter will soon come back around.
# 5 – Remember that time is of the essence
Throughout each of these pointers, one thing becomes evident: time is of the essence when it comes to implementing any migration plan of this kind. As such, the last thing to remember is that it doesn’t matter how you go about migration, as long as you take your time doing it and get the expertise of data consultants to ensure you have a pain free migration and nothing is missed.
While you may feel the urge to rush this process, doing so will only lead to improper migrations, longer processes over time, and even imperfect centralised systems that don’t serve your purposes. Either of these could prevent migration success or performance benefits. So, take it slowly. Ask the professionals who can help you with these vital changes. Make sure that you get every single stage of your data migration just right, and don’t stop until you’re happy that you have the right performance management system in place and you’re in the best position to see those much-coveted results.
