We’re not immune to the power of a good buzz word. We confess to having talked, written and Power-pointed our way through “purpose-built” and “globalization,” to “paradigm shift” and “fully-integrated synergy”. Yes, some are more painful than others. But the reality is that for every unfulfilled buzzword that grates on our last nerve, come others that gain prominence as significant trends and strategic imperatives. So, how do business leaders determine which will provide a sustainable, competitive edge?
Consider that business advantages can still come from traditional sources (productivity, intellectual property, etc.), but strategic advantages will be the result of innovation and digital transformation. Yet many experts say that going digital won’t be enough. To survive, they insist, an organization must become an intelligent enterprise, combining “human intelligence with technology-enabled insights to make smarter choices.”
Yet, how can a company successfully do so when the tools and the landscape around data intelligence (big data) are constantly changing? Working with vast streams of messy data can be a challenge for enterprise organizations, and it’s only getting tougher as more data is created and collected. We believe that the intelligent enterprise is built on the foundation of a sound data intelligence strategy. Per Gartner (2017), “Digital business is driving innovation in data management through effective access to and processing of data.”
How can you determine if your strategy is on the right track? Ask yourself the following three questions to find out.
- Where does all the data reside?
Data is your enterprise’s biggest asset. Let’s state the obvious: it should be easily, consistently and securely synchronized, standardized, governed and stored. But the reality is that most enterprises and mid-sized companies have data that is siloed, fragmented and inconsistently stored (i.e., messy, diverse and large). So, if you are scratching your head and can’t answer the question “Where is my data?” transforming it into measurable business value will be a challenging endeavor.
- Who needs access to the data and when?
Let’s say you know where your data is stored. But have you established the criteria for who gets access to the data and when? You must make certain that your data is both accessible and secure. It is not possible to analyze something you don’t have. Make sure that you implement firewall security, malware scanning, spam filtering as well as permission control for your team.
- Can the data be effectively managed?
Can you easily pull all the data together, no matter what format it’s in or how often it changes? Set consistent policies that can be enforced wherever the data resides, whether it’s in a physical, virtual or cloud environment. This step helps unify information classification, automates discover of who owns and uses specific information, controls access and distribution, and speeds the process of transforming it into measurable business value.
From Data Acquisition to Data Analytics, the Trace3 Data Intelligence Practice delivers the right mix of technologies to properly service your business by engaging our unique team of consultants, architects, and engineers. From open source to proprietary technologies that our clients leverage to support their specific business needs, or whether it’s on-premises or in the cloud, we can bring your platforms into the new age of data intelligence.