How a data platform creates value
A data platform is crucial for businesses aiming to maximize the value of their data. It supports companies in managing data from start to finish, ensuring a standardized and consistent approach to processing and presenting data to end users.
Moreover, it provides a secure way to manage user rights and access to data, ensuring that users can only access data relevant to their needs and roles within the company. This centralized maintenance of data prevents it from being processed in different ways across various parts of the organization.
The data platform covers the entire data value chain, including functional support throughout the process from data collection, use of both structured and unstructured data, data processing and analysis, to data presentation for end users. The term "data platform" is often used as a collective term for a range of components with different purposes and functions that can be combined depending on technical and business needs.
Broadly speaking, a data platform supports the following business processes:
- Data Collection: Components for gathering and retrieving data to the platform, often referred to as "Data Ingestion."
- Data Processing: Components for processing, transforming, and enriching data, often referred to as "Data Processing."
- Data Archiving: Components for storing and archiving data, often referred to as "Data Store."
- Data Accessibility: Components for exposing and making data available, often referred to as "Data Access."
Want to learn more about data platforms? Check out this guide:
So, why is this a good idea?
In the past, IT and data architecture often faced challenges due to a fragmented data landscape, where data was placed in various systems and "data silos." At the same time, the volume of data increases, technical complexities arise, performance decreases, new tools and user needs emerge, and the importance and need for data for business decisions grow.
This is where a data platform comes into play!
A data platform plays a central role because it provides a central data foundation that is both flexible and scalable. It also enables the use of the best analytics tools across different user groups.
The advantage of a flexible data platform is the ability to connect to new data sources over time, use new data types, or apply new components from the platform's ecosystem without having to start from scratch. This provides architectural freedom that is crucial for not getting "locked in" as an organization.
When it comes to scalability, the benefits of a modern data platform include the ability to scale resources up and down as needed. This means you can scale up at specific times or based on telemetry—quickly, as needed, and without significant cost phases.
On the other hand, you can also scale down when resources are not in use or when the need for a resource decreases—to save operational costs. The advantage of scalability thus goes both ways.
Overall, this means that a data platform provides companies with a foundation built on functionality and flexibility. In this way, a modern data platform becomes the cornerstone of the data-driven agenda.
twoday can help you with data platforms
In twoday, we have extensive experience with data integration and data systems through leading business intelligence tools and modern data platforms. We assist with data capture, compilation, quality control, and update logic so that information is registered only once, and the rest is automated.
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