Modern-Data-Integration-for-Better-Decisions-and-Outcomes

Modern Data Integration for Better Decisions and Outcomes

Modern Data Integration for Better Decisions and Outcomes

The insatiable demand for data continues unabated. We want to gain deeper insights into market trends, customers, competitors and our business performance, but many companies are not making the progress they anticipated. And the promise of big data analytics remains largely out of their reach.

Why? Because most companies still don’t take a strategic approach to data integration. It’s laborious and time-consuming. It’s costly. And most cannot see the direct impact it has on driving business objectives while supporting risk management initiatives for governance, regulatory and compliance (GRC) requirements.

If anything, data integration has become more complex as the sources of data have exploded. Not only are companies collecting and retaining more data – multinationals have data in many countries that they struggle to integrate, manage and analyze. Moreover, companies are sharing more information with trading and supply chain partners than ever before.

Much of this data is beyond the structured transactional variety in conventional systems and databases. In fact, unstructured data – from spreadsheets and documents to Web pages and social shares – is growing exponentially faster. More companies are recognizing that this data represents a trove of knowledge that has largely gone untapped because they have been hidden in user and departmental data silos across the enterprise.

Read Also:
Big Data and IT Asset Management: A marriage made in heaven or hell?

In the software-driven economy, people expect unfettered access to data 24/7. And they are increasingly accessing this data with a mobile device. As the pace of business accelerates, companies are under increasing pressure to ensure that the right users have access to the right data in the right format – at the point of decision.

The “3 Vs” of big data are often referred to volume, variety and velocity. However, I believe the true 3 Vs are validity, veracity and value. That’s because all of this data is of little use if it’s not integrated. Inadequate data governance has resulted in data sprawl, with incomplete or inaccurate data sets driving flawed assumptions and multiple versions of models that undermine data-driven decision-making. After all, bad data at the speed of light is still bad data.

As much of this data becomes localized, it is more difficult to manage. Equipping users with a desktop data visualization tool and calling it self-service BI/analytics often disappoints both IT and business managers. Users get bogged down trying to integrate data from different sources to prepare for analysis rather than gaining the hoped-for insights. Studies show that despite the panoply of newer technologies, enterprises typically spend up to 80% of their time in business intelligence projects preparing the data for analysis.;

Read Also:
Should Data Integration Be Brought to the Cloud, Just Like an App?

 



Big Data Innovation Summit London

30
Mar
2017
Big Data Innovation Summit London

$200 off with code DATA200

Read Also:
Data with personality: the evolution of visualisation

Data Innovation Summit 2017

30
Mar
2017
Data Innovation Summit 2017

30% off with code 7wData

Read Also:
Data with personality: the evolution of visualisation

Enterprise Data World 2017

2
Apr
2017
Enterprise Data World 2017

$200 off with code 7WDATA

Read Also:
Internet of Things Turns New York's Lake George into Smartest Lake

Data Visualisation Summit San Francisco

19
Apr
2017
Data Visualisation Summit San Francisco

$200 off with code DATA200

Read Also:
What industries are next to be disrupted by NLP and Text Analysis?

Chief Analytics Officer Europe

25
Apr
2017
Chief Analytics Officer Europe

15% off with code 7WDCAO17

Read Also:
New CIO paradigms for cybersecurity and prevention

Leave a Reply

Your email address will not be published. Required fields are marked *