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How can you use analytics to gain insights into your records management system?

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Records management systems (RMS) are essential for any organization that needs to store, access, and protect its information assets. However, simply having an RMS is not enough to optimize its performance and value. You also need to use analytics to gain insights into your RMS and improve its efficiency, effectiveness, and compliance. In this article, we will show you how you can use analytics to achieve these goals.

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Carlos A F Brefe

Senior Data, Information Technology and Market Data Specialist

1 What is analytics?

Analytics is the process of collecting, processing, analyzing, and interpreting data to generate insights that can inform decisions and actions. Analytics can be applied to various types of data, such as quantitative, qualitative, structured, unstructured, and big data. Analytics can also be classified into different levels, such as descriptive, diagnostic, predictive, and prescriptive analytics. Descriptive analytics tells you what happened, diagnostic analytics tells you why it happened, predictive analytics tells you what will happen, and prescriptive analytics tells you what you should do.

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2 Why use analytics for RMS?

Using analytics for RMS can offer several advantages, such as enhancing the quality and accuracy of records by identifying and correcting errors, improving the accessibility and usability of records by finding and retrieving information faster, increasing security and compliance by detecting and preventing unauthorized access, reducing costs and risks by optimizing storage, retention, and disposition of records according to their value and lifecycle, and generating value and insights from records by discovering patterns, trends, correlations, and opportunities. All of these benefits can help inform your strategy and operations.

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Carlos A F Brefe

Senior Data, Information Technology and Market Data Specialist
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Utilizing analytics is a powerful way to gain insights into your records management system. By applying analytics, you can transform your records management system into a data-driven tool that not only enhances efficiency but also ensures compliance, security, and cost-effectiveness.

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3 How to use analytics for RMS?

To use analytics for RMS, you need to define your objectives and questions, identify and collect data sources, clean and prepare your data, choose and apply analytical methods, and interpret and communicate your results. You should ensure that your data is accurate, complete, consistent, and relevant for your analysis. Additionally, you must transform, standardize, and enrich your data to make it ready for analysis. To generate insights that match your objectives and questions, the appropriate techniques, models, algorithms, and tools should be used. Finally, you must present and share the analytical outputs and findings with stakeholders in a clear, concise, and compelling way.

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Carlos A F Brefe

Senior Data, Information Technology and Market Data Specialist
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Through systematic data analysis, you can identify usage patterns, access history, and metadata details. Recurrent patterns, such as frequently accessed records and user behaviors, empowers data professionals to make informed decisions. By continuously monitoring performance, organizations can refine their records management systems, optimize costs, and enhance user experiences. The predictive capabilities of analytics enable proactive issue prevention, while meticulous compliance checks and risk management are streamlined, guaranteeing adherence to legal and regulatory standards.

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4 What are some examples of analytics for RMS?

Analytics can be used for RMS in many ways, depending on your objectives and questions. For example, you can use analytics to classify and categorize your records according to their attributes, such as type, format, content, owner, date, and status. This can help you organize and manage your records more efficiently. Additionally, analytics can be used to analyze the sentiment and text of your records, such as emails, documents, feedback, and reviews. This can allow you to understand the tone, mood, opinion, and intention of your records and their authors or recipients. You can also use analytics to analyze the risk and compliance of your records in order to protect them from unauthorized access, breaches, and violations. Furthermore, analytics can be used to analyze the value and lifecycle of your records in order to optimize their storage and disposition according to their value. Finally, analytics can be used to analyze the patterns and trends of your records in order to discover insights that can inform your strategy and operations.

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5 What are some challenges and best practices of analytics for RMS?

Using analytics for RMS is not without challenges, such as data quality and availability, data security and privacy, and data analysis and interpretation. To overcome these challenges, you need to define your objectives and questions clearly and SMARTly, identify and collect data sources systematically and ethically, clean and prepare your data thoroughly, choose and apply analytical methods carefully, interpret and communicate results logically, and support them with evidence. Documenting the sources, formats, and metadata of your data is also essential in order to ensure accuracy. Moreover, validate and verify the quality of the data in order to avoid bias, errors, or false conclusions.

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Carlos A F Brefe

Senior Data, Information Technology and Market Data Specialist
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While there are many challenges in leveraging Analytics for RMS, the most common include ensuring data quality and availability, addressing data security and privacy concerns, and dealing with complex data analysis and interpretation. In order to tackle those challenges, some best practices to follow may include careful selection and application of analytical methods, as well as logical interpretation and communication of results supported by evidence. Proper documentation of data sources, formats, and metadata is critical for ensuring accuracy, and validation procedures should be in place to prevent bias, errors, and false conclusions.

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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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How can you use analytics to gain insights into your records management system?

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1 What is analytics?

2 Why use analytics for RMS?

3 How to use analytics for RMS?

4 What are some examples of analytics for RMS?

5 What are some challenges and best practices of analytics for RMS?

6 Here’s what else to consider

Administrative Management

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How can you use analytics to gain insights into your records management system?

1

2

3

4

5

6

1 What is analytics?

2 Why use analytics for RMS?

3 How to use analytics for RMS?

4 What are some examples of analytics for RMS?

5 What are some challenges and best practices of analytics for RMS?

6 Here’s what else to consider

Administrative Management

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