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How do you use document management and data analysis to mitigate risks?

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As an administrative assistant, you have to deal with various types of documents and data on a daily basis. Whether you are creating, editing, storing, or sharing them, you need to follow some best practices to ensure their accuracy, security, and usability. In this article, you will learn how to use document management and data analysis to mitigate risks and improve your performance.

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Muhammad Syafiq Abdul Halim

Manager @ GREAT EASTERN TAKAFUL BERHAD | Reporting,Analyst,Budgeting,
Peter Makwaya

Human resource officer at IRIS construction
Mohamed Osman Adan

Public Relations officer at Saipem

1 What is document management?

Document management is an essential process for organizing, storing, and controlling the access and distribution of documents. It involves creating a system that enables you to quickly find, edit, and share documents while protecting them from unauthorized access, modification, or loss. Document management can help to reduce risks such as losing important information due to human error or technical failure, wasting time and resources looking for misplaced or outdated documents, breaching confidentiality or compliance regulations by exposing sensitive data to the wrong people or platforms, and creating inconsistencies or errors in your documents due to lack of standardization or collaboration.

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Peter Makwaya

Human resource officer at IRIS construction
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By efficiently organizing and controlling access to documents while using data analysis to identify and assess potential risks, businesses can reduce their exposure to adverse events and make informed decisions to mitigate those risks

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Muhammad Syafiq Abdul Halim

Manager @ GREAT EASTERN TAKAFUL BERHAD | Reporting,Analyst,Budgeting,
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Another thing,in managing documents it is important to set it's retention period especially to avoid any issue of information overload which can impact when comes to decision making.

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2 What is data analysis?

Data analysis is the process of collecting, processing, and interpreting data to generate insights and support decision making. It involves using various tools and techniques to manipulate, visualize, and communicate data in a meaningful way. Through data analysis, you can reduce risks such as missing opportunities or threats due to lack of information or awareness, making wrong or biased decisions based on inaccurate or incomplete data, overlooking patterns or trends that could affect your performance or goals, and failing to measure or report your results or impact effectively.

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Muhammad Syafiq Abdul Halim

Manager @ GREAT EASTERN TAKAFUL BERHAD | Reporting,Analyst,Budgeting,
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Data analysis is an important aspect which apart of data management criteria. By having data analysis it will help organization to find a best solution especially in making decision and to close any gaps between it

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3 How to manage documents effectively?

To manage documents effectively, you need to create a consistent and efficient document management system. To do this, you should first define the different kinds of documents you work with and how they relate to your tasks and objectives. Assign each document type a category based on its purpose, function, or status. Next, choose a clear and logical way to name and format your documents so that they are easy to identify and access. You may also use templates, styles, fonts, and colors to standardize your document appearance and structure. Additionally, decide where and how you will store and backup your documents, both online and offline. Make sure you have enough space, security, and accessibility for your document storage and backup options. Finally, define who can view, edit, or delete your documents and how they can do so. Make sure you follow the confidentiality and compliance rules of your organization when accessing and sharing documents.

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Muhammad Syafiq Abdul Halim

Manager @ GREAT EASTERN TAKAFUL BERHAD | Reporting,Analyst,Budgeting,
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From my experience,my unit is focusing on retention period of documents. We have to ensure any documents that meet it's retention period must be destructed. This is to reduce cost related to storage and to avoid any issue such as information overload

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Muhammad Syafiq Abdul Halim

Manager @ GREAT EASTERN TAKAFUL BERHAD | Reporting,Analyst,Budgeting,
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From my experience,my unit is focusing on retention period of documents. We have to ensure any documents that meet it's retention period must be destructed. This is to reduce cost related to storage and to avoid any issue such as information overload.

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4 How to analyze data effectively?

To analyze data effectively, you need to follow certain steps that will help you collect, process, and interpret data in a meaningful way. Begin by defining your data analysis goals and questions. Ask yourself what you want to achieve and what you want to know from your data analysis. For example, measure performance, identify trends, compare results, or evaluate outcomes. Afterwards, collect and clean your data from various sources such as documents, databases, surveys, or reports. Check for errors, duplicates, outliers, or missing values and correct or remove them. You may use tools such as spreadsheets, databases, or software to help you here. Afterwards, process and visualize your data using formulas, functions, filters, or pivot tables. Also use charts, graphs, tables, or dashboards to visualize your data. Lastly interpret and communicate your data by drawing conclusions and insights from your data based on your goals and questions. Communicate findings and implications clearly and concisely to your audience using appropriate language, format, and style. You may use tools such as reports, presentations, or infographics for this purpose.

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Muhammad Syafiq Abdul Halim

Manager @ GREAT EASTERN TAKAFUL BERHAD | Reporting,Analyst,Budgeting,
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One way is to understand the data set, ensure the source of data is correct and the important aspect is to analyze it by using a meaningful tools

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5 How to use document management and data analysis together?

Document management and data analysis are complementary processes that can help you improve your administrative performance and mitigate risks. By managing documents effectively, you can ensure reliable, secure, and accessible data sources for analysis. On the other hand, data analysis can generate valuable insights and support document creation, editing, and sharing. For instance, document management can be used to create and update data analysis reports with consistent and professional formatting. Additionally, data analysis can be used to monitor and evaluate document management performance. It can track the number, size, type, and category of documents or measure the time and resources spent on document management. Furthermore, data analysis can identify and address any document management issues or risks such as data breaches or errors.

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Mohamed Osman Adan

Public Relations officer at Saipem
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identifying and categorizing the different types of risks that your organization or project may face. Establish a comprehensive document management system to store all relevant data, including contracts, financial records, project plans, and compliance documents.

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6 Here’s what else to consider

This is a space to share examples, stories, or insights that don’t fit into any of the previous sections. What else would you like to add?

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Mohamed Osman Adan

Public Relations officer at Saipem
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combining effective document management and data analysis, you can proactively identify, assess, and mitigate risks in your organization.

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How do you use document management and data analysis to mitigate risks?

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1 What is document management?

2 What is data analysis?

3 How to manage documents effectively?

4 How to analyze data effectively?

5 How to use document management and data analysis together?

6 Here’s what else to consider

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How do you use document management and data analysis to mitigate risks?

1

2

3

4

5

6

1 What is document management?

2 What is data analysis?

3 How to manage documents effectively?

4 How to analyze data effectively?

5 How to use document management and data analysis together?

6 Here’s what else to consider

Administrative Assistance

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