The new data landscape

The value of data

Data-based decision making is nothing new to anyone in business, but the volume of data being accumulated in modern businesses is presenting an entirely new challenge. In many workplaces data is collected in a variety of formats and being streamed in from multiple devices. Only the businesses that are structured to handle this volume and variety of data can benefit from the advanced decision making it enables. Those that are unprepared are at risk of missing the greatest insights their data is offering.

Despite widespread recognition of the value of data, few companies have implemented modern data strategies to deal with it. This has created a new urgency for leaders and analysts to implement a solution that works for their individual requirements.

Structured vs. Unstructured data
The new data landscape

The volume of unstructured data that businesses are dealing with is growing rapidly, and includes data streams that wouldn’t even have existed a few years ago, such as transcripts from website chat bots. Other examples include – system logs, slides, emails, social media, images, and video.

With many businesses taking part in workplace modernisation it’s also increasingly likely that each employee will be interacting with multiple devices on a daily basis, creating even more streams of data flowing into the business. In turn, the people using those devices have high expectations for accessing and manipulating the data they need to complete their own tasks.

The first step

To begin the process of organising this raw data into a format that can provide actionable insights, the first step is to move everything to the cloud. As business questions arise, cloud-based tools can prepare and structure the data on demand. By using the power of the cloud it is possible to democratise all the data available, both structured and unstructured, to enable data management at scale and speed. In addition, there is no infrastructure cost to worry about.

The combination of cloud computing and data warehousing means all business data is stored in a central location, enabling everyone in the business to access a ‘single source of truth’ and analyse this information in the most convenient way to suit their needs. Centralising raw data from key business processes into cloud storage is the first step towards modern data-based decision making.

If you have found this blog post useful you may like to read our related articles below, or take a look at the Data Analytics and Insights page to find out more about the work TiG Data Intelligence does in data analytics.

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