DATA Acquisition to DATA Analytics, achieving 360-degree view of a business

Adapting to fast-paced changing business needs is the key to any business success. In today’s lightning fast, socially collaborated society where businesses have to respond quickly to the growing needs or opportunities, speed makes all the difference – answers need to be provided fast!

Any data can be valuable, the definition of “valuable” data varies, depending on what the business need is, the cost of data is often higher than the incremental value it can provide. Veracity plays a BIG role in Data quality, hence it is influenced by how the data is acquired and managed; it varies significantly from business to business.

However, the Data Quality dimensions (common ones being Timeliness, Uniqueness, Validity, Accuracy, Consistency, and Completeness) based on which businesses measures assess and quantify are same. This is why Quality Data becomes a priority.

Whether it is Data acquisition or Data migration, Data quality principles come first. The goal of every business is to provide consistent DATA across the organisation, so every user will be able to get the same Insights across the board. A common goal we often come across while speaking to businesses is having a single source / version of the DATA

Analytics is an iterative journey, providing a capability to quickly detect patterns, anomalies, outliers and trends in your business. Enabling a full spectrum of capabilities for real-time visibility across any data streams. Detecting or predicting conditions that indicate an onset of critical compliance or security breach within your applications / services and present them squarely into the hands of business decision makers to react to the situations.

This drives the need for DATA platforms to be fully integrated as well, to not only cater needs of various business but also for varying data sets for mining insights. Every cycle of iteration drives insights in driving process efficiencies, the implementation of these process changes drivers and leads to discovery of new green fields some perish and some prevail.

In my view, DATA is the oxygen for a healthy functioning of any business.