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Benefits Of Data

Every company’s data is getting larger and more important to its survival and success. Companies everywhere are realizing that data is a key asset that can directly impact business goals. Data is projected to be the top item of spend in many industries.  Most companies have to admit that no matter what business they are in, they are in the business of information.

Data is valuable. It gives a business the view it needs to understand and improve itself.  Data is proving to be the next natural resource for the enterprise. “Let no data escape” must be the mantra of our systems development. We need to glean all possible value out of every data element and we need a modern data architecture to enable this strategy.

This mantra implies that we must grow the data science of our organization along with our data architecture to fully deal with the many forms of data.

All of this cannot be accomplished without an intense focus on the various and increasing number of technical bases that can be used to store, view, and manage data.  There are more than ever now that have merit in organizations today.

Yet many organizations continue to push forward month after month with legacy technology that did a good job in the past and that continues to parlay the skillset of the organization. However, data technology and data science have progressed with the importance of data. It is imperative to raise the data foundation of your company to be able to cultivate it as an asset of the organization.

The benefits of modern data architecture are as follows:

  1. It ensures the ability of the data analysis function of the organization to actually do analysis rather than restrict it to data hunting and preparation almost exclusively.
  2. It provides the ability to maneuver as an organization in the modern era of information competition with consistent, connected data sets with every data set playing a mindful and appropriate role.
  3. It enables a company to measure and improve the business with timely key performance indicators, such as streamlining your supply chain or opening up new markets with new products and services supported by technology built for analytics.

This paper will help an organization understand the value of modernizing its data architecture and how to frame a modernization effort that delivers analysis capabilities, diverse yet connected data, and key performance measures.

Table of Contents

  1. Summary
  2. What Does Modern Data Architecture Look Like
  3. Evaluation Criteria for Modernizing
  4. for Modernizing the Data
  5. About the Author: William McKnight
  6. Sponsorship

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