Hence the first risk relies on which software is your company going to use? Most companies decide upon the software; not based upon their processes. Keep in mind: the software has to adapt to your company not the other way around.
What kind of data your company has? Is it relevant? Is it complete and updated? Where does the information come from? The second risk is to start managing data that is bad or useless and the third risk is that it is unorganized. Make sure to organize it according to the fields your company needs.
After that, analyze and interpret data. By doing so, the information becomes meaningful, ready to make accurate business decisions. Erase information that has no use. This will help you to minimize the fourth risk: wrong decision making.
Now that you have relevant data, make sure where it is going to be store; because the fifth risk is not to have the conditions; for example temperature, maintenance, location. Sixth risk: who is going to have access to the information? Remember data protection…you don't want data leaks or breaches!
Seventh risk is lack of back-ups: secure the data by carrying out a backup in a regular basis and make sure that it is store in a different location than the company’s.
Up to this point keep in mind that although we talk about risks, if manage them correctly your company can have high-quality data…so make it BIG!