Madrid, March 7, 2023 – Remote working, hybrid working models and collaboration within offshore teams require using repositories to update and store information so that all team members can access it from anywhere and on any device, be it a computer desktop, a mobile app, or a web browser.
Over time, data is becoming increasingly important to make business decisions, and the business needs solutions to collect, store, and analyze that data. A data repository is therefore a virtual storage entity that allows consolidating and managing key business data, solving problems faster, and streamlining reporting and analysis.
Types of data repositories
DATA WAREHOUSE: It is a large central repository that collects data from various sources or business segments. Stored data is often used for reporting and analysis that help users make important decisions. This type of repository provides a consolidated view of a warehouse of physical or logical data from multiple systems.
DATA LAKE: A unified repository that allows storing structured, semi-structured, and unstructured business data at any scale. Data may be raw and used to carry out different tasks, such as reporting, visualizations, advanced analytics, and machine learning.
DATAMART: It is a thematic repository containing a subset of data aligned with a specific department, such as Marketing or Finance. Since it is smaller, a Datamart can speed up procedures as it can easily access relevant data in a matter of days ratherthan months.
Given that it only includes data for a specific area, it is a cost-effective way to gain actionable insights quickly.
METADATA REPOSITORIES: While metadata incorporates information about structures of actual data, metadata repositories contain information about the data model that stores and shares this data. They describe where the source is located, how the information was collected, and what it means.
They help define the layout of any data or topic. For companies, metadata repositories are essential for people to understand administrative changes, as they contain detailed information about the data.
DATA CUBES: They are lists of data with multiple dimensions (three or more) stored as a table. They are used to describe the time sequence of data in an image and evaluate the data collected from various perspectives.
Each dimension in the cube integrates specific characteristics of the database. The data within the cube allows analyzing all the information of each customer, seller, or product, which helps identify trends and analyze business performance.
Features and benefits of data repositories
SINGLE SOURCE OF TRUTH: All information is collected in one reliable place (OneDrive, Google, iCloud, etc.). Users first access the cloud repository and then download the document into their computer.
SECURITY: Information security is animperative for all companies. It does not matter whether they are customer data governed by the General Data Protection Regulation (GDPR), confidential information in the hands of consulting and law firms or intellectual property of engineering or pharmaceutical companies.
It is vital that information do not leave the company’s perimeter.
In addition, sending attachments is all history now. These repositories allow sending links that accomplish several missions: They do not collapse the mail inbox; they allow seeing any changes made to a document without having to forward it; and they enable settings to determine who accesses a document or prohibit others from saving or printing it. Big tech companies like Microsoft, Google and Apple invest a lot in security.
TRACEABILITY: Looking at a simple icon, it is possible to know if the file has been stored locally on the computer or is only in the cloud. This is important when sharing documents with other users. We must ensure that the file in question is in the repository within the reach of other team members.
SHARING: When sharing a document, users can determine who has access to it, and whether the team can edit it (coauthor role), or just read it. Once users make this decision, they can copy and paste the link into the collaboration tool they are using or indicate the email address of the individual or individuals who will be able to access the file.
DOCUMENT VERSIONING: These repositories save all the changes that have been made to the documents and users can go back several versions until they restore the one that seems most appropriate.
BACK-UPS: When all key documents are in one place, back-ups are much easier.
IMPROVED PRODUCTIVITY: Information repositories boost team productivity in four ways: They allow creating and editing documents in parallel and in real time; they help make changes to a document offline and save them automatically when users return to online mode; they enable comments to other team members iteratively and immediately; and they provide access to all user files without the need to store them on any device.
Challenges of data repositories
While repositories provide all the benefits listed above, they also pose some challenges that need to be addressed appropriately to minimize potential risks:
- The constant increase in data can slow down systems. To avoid this, it is necessary to make sure that the database management system can grow to the same extent.
- If a system fails, it can affect data. It is advisable to keep a back-up of everything and restrict access to monitor system risks.
- Unauthorized users can access sensitive data faster if stored in one place.
Best practices for creating and managing datarepositories
When creating and maintaining repositories, hardware and software decisions need to be made. Therefore, all stakeholders should be ideally involved during the development and use phase. Once implemented, here are some best practices to get the most out of repositories:
SELECT THE RIGHT TOOL: Among all the tools available, it is important to find the solution that offers the functionalities that best fit business requirements.
LIMIT THE SCOPE AT THE BEGINNING: It is advisable to reduce the scope of the repository in the first few days, accumulate smaller data sets and restrict the number of subject areas. Complexity can then gradually increase as data operators become familiar with the system.
MAXIMIZE AUTOMATION: Automating the process for loading and maintaining the data repository saves user’s manual intervention and reduces the chances of making mistakes.
FOCUS ON FLEXIBILITY: Repositories must be scalable enough to adapt to changing data types and make room for increasing volumes. Flexible plans to accommodate changes in technology must therefore be chosen.
About DocPath
DocPath is a leading enterprise document software company that offers its international customers the technology that allows them to complement their ERP and implement advanced Document Output Management, Customer Communications Management and document software pooling processes.
Founded in 1993, DocPath is based in Europe, USA and Latin America and is present with its Solutions in companies around the world. Among its customers there are prestigious banks and top-tier corporations, facilitating the difficult and complex task of designing, generating and distributing their business-critical documents. DocPath keeps a strong commitment to R+D+i, an area to which it allocates a large part of its revenues, and in which lies one of the keys to its success.
For more information, visit: www.docpath.com.
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