Too Meta? Is Your Small Business Overlooking The Power of Metadata?
Find value from today’s article? Leave a comment below or sign-up for the Sunsett.io by Monicat Data platform at Sunsett.io
Did you know the importance of metadata as a business asset grows daily? Amazon CTO, Werner Vogel, has stated “Data is the core of value creation, while physical assets are losing their importance to business models.”
Metadata is not just an asset to large companies like Amazon, it is also critical to small and mid-size business success. Metadata can help improve user experience, brand recognition, and more making it an essential strategic element in any business model.
Metadata can be broken down to essentially mean “data about data.” When properly integrated into business models and operations, it is extremely powerful and allows companies to gain the full value of all of their data.
“Data is the core of value creation, while physical assets are losing their importance to business models.”
To see how your small business can avoid overlooking metadata, we must answer a few key questions:
- What is metadata and where can it be found?
- How can metadata help grow your small business?
- How can Sunsett.io help your business manage this data?
What is metadata and where can it be found?
Through a wide-angle lens, metadata means “data about data.” It is a set of data that describes and gives more information about other data. When looked at through a more narrow lens, it is “structured information that describes, explains, locates or simplifies the retrieval, use or management of an information source.”
The volume of metadata grows rapidly and consistently. Metadata can be found anywhere from social media, photos, blogs, websites, emails, spreadsheets, documents, and everything digitally in between. When managed properly, metadata can help you trace the entire path of a data set from when it was created and how it subsequently flowed throughout a system(s).
“Metadata is a set of data that describes and gives more information about other data.”
How can metadata help grow your small business?
The volume of data is increasing continuously. When data is properly utilized and understood, it is an asset to any business. Metadata is crucial to the growth of small businesses as it provides an extra layer of context to the data that businesses use and generates, helping that data be better understood.
Traditional aspects of metadata include data source, credentials, locations, mapping, schema, and attributes. Analyzing this metadata will define the what. For a business, this can include ownership, classification, relationships, cost, product ID, customer profile, product profiles, and more. For a more successful metadata approach, businesses can narrow their focus to specific initiatives or goals. This focused approach allows a company to manage its data in a more meaningful and manageable way.
Metadata is one of the key tools in making data actionable. Metadata is typically collected multiple times over the course of business interaction. These collections create digital trials that a business can then use to make data-backed predictions and decisions. When optimized, metadata is a valuable resource.
How can Sunsett.io help your small business manage data?
Simple and easy-to-use tools, like Sunsett.io, are key in helping small businesses utilize metadata. Sunsett.io provides an affordable option for small businesses to visualize their data and see their performance updates in real-time.
Inside Sunsett.io, powerful marketing analytics, data visualizations, personalized insights, and team collaboration tools help to save you time, and resources and grow your business. Sunsett’s personalized insights give businesses quick tips and metric suggestions based on your connected platforms and project goals.
Visit Sunsett.io and start a free 7-day trial and see how Sunsett can help you turn your metadata into actionable insight and help your small business grow with confidence.
Find value from today’s article? Leave a comment below or sign-up for the Sunsett.io by Monicat Data platform at Sunsett.io