Managing Data Today; The Drive Towards Digitalization
"Data is the life-blood of any organization. Data informs, it measures, it predicts. It provides insights, exposes risks and drives innovation."
The benefits of being a data-driven organization is a no brainer. However, most organizations are overwhelmed by the sheer growth in new data and already have mountains of unorganized, historical data. This historical data comes in various formats and is stored in different department systems, called siloes.
As the life-blood of any organization, data needs to flow from A to B in order to bring life to data-driven decisions. For data organizations, the long list of issues and concerns are storage, access, displays and budgets. The solution? A digital revolution.
The Beginning– Data and The Human Experience
Data goes all the way back in history, with the first advancement being made when man started to record events on a cave wall. Fast forward to another big change in society, the invention of the printing press, which enabled the spread of information to the masses. Both events shifted man’s development. In addition, the computer era has brought so much more information and the result is an immense drive towards digitalization. The human experience is now online.
The Drive Towards Digitalization
With all of this data, there is an increased dependence on digitalization, both personally and professionally. In today’s environment, we are faced with an explosion of alternative data sets that comes from everyday living. Artificial intelligence and machine learning are used to discover insights into this data. Like anthropologists trying to decipher the meaning of cave drawings, modern data scientists glean data to discover meaning and patterns. They ask, ‘what is this telling us?’ The answer affects all industries, from technology to farming.
The Covid-19 pandemic further drove data down the path of digitalization. As our online human footprint increases, so our data consumption increases. In part, the pandemic has accelerated the future. A legacy data infrastructure is basically an expensive ‘dinosaur’ in our modern world. So how quickly can organizations go digital?
Speed and Flexible Delivery Thanks to AWS Cloud Technology
In some organizations, it is still a multi-month turnaround to deliver data. Included in that turnaround time is the need for the client to contact sales to order and make a payment, and for producers to obtain risk oversight reviews and write a contract for data usage. Yet, the acceleration of the demand for digitalization has decelerated our patience as consumers. Millennial data consumers are now demanding self-service in our digitalized world.
Amazon is no stranger to changing the world and how we shop. AWS is disrupting traditional business processes across all industries and verticals through cloud technology. As a result, businesses need to re-engineer cloud based data lake strategies and governance processes. They need to rewire traditional data market feeds in a cloud-based environment to achieve growth in scale and efficiency. They need to leverage cloud technology to get their data flowing.
Sell Data as a Product on Your Web Store
To distribute data online, businesses can also leverage various automated tools built for the cloud. These self-serve tools enable their end-users with control on the front-end to help them to explore data— similar to an e-commerce store set-up. Similarly, these tools also enable control in the back-end with automation that allows authorization and entitlements that electronically control where the data goes. This allows for a digital footprint to be recorded, which is an additional security measure for governance.
As a panelist, Francis Wenzel, CEO of TickSmith offers this advice to those who want to set up an online data web store. “Think of data as a product, like something you can buy at a grocery store. You can buy the product in a small package, a big package, bundled, and in different flavors, because that’s what the consumer wants. When selling data, it’s not about standardizing the data, but more about giving tools to the consumers to deliver the data the way they want it.” He adds, “Don’t make the customer work to prepare the data. Enable them to get the data in the format they want, with just the needed fields and in the order needed, so they can feed it into their systems.”
TickSmith’s GOLD Platform is the end-to-end data distribution solution for organizations that need to go digital. Whether distributing data internally or externally, the GOLD Platform simplifies your cloud data infrastructure. Our low code solution, the Enterprise Data Web Store is designed to be operated by non-developers who need to get their data flowing online— and fast!