Data-driven organizations are leading the charge towards a heightened scale of operation and competition. Leaders need to put their weight behind decisions that push for data-based architecture.
The return on investment tends to be spectacular. For one US bank, it meant an increase of over $500 million annually and for an oil and gas company roughly 12-15% margin growth. The benefits can be seen over several areas: IT cost reductions, productivity improvements, increased regulatory compliance and better operational risk mitigation. Investment in data-led transformation creates a new batch of capabilities, business opportunities and services.
At the heart of things, we have noticed 3 major trends promoted by market leaders. These trends improve nearly all data activities, including sourcing, processing, storage, analysis and visualization.
Here we bring to you those key trends-
1. Moving from on-premise to cloud-based data platforms
Cloud remains the most disruptive driver accelerating organizational transformation and consistently so. Moving to cloud-based platforms offers firms competitive advantages- deploying AI tools and scaling their capabilities become feasible and cost-effective. The scalability advantage can be applied to how we source, deploy and run data-based infrastructures, platforms and applications.
How do we help?
We assist you in integrating the advantages of serverless data platforms. No hassle of installing and configuring solutions or managing workloads. You can lower the expertise required, improve deployment speed and all of this at no increase in operational overhead.
2. From batch to real-time data processing
The omnipresent real-time data messaging and streaming capabilities only indicate how cost and operational intricacy has devolved, paving way for unrestrained organizational use. The use-case is not limited to product growth alone, but can also revolutionize internal operations.
The business applications range from transportation companies informing customers about their approaching taxi, to logistic companies providing real-time dispatch data and more. At the same time, real-time streaming functions allow data-driven employees, to learn new “topics” using the constant feed of the transactions as they happen. A common data lake facilitates such requests as per the services required.
How do we help?
We help you create streaming, processing and analytics solutions that enable direct analysis of messages and information in real-time. Analysis can be rule-based or involve advanced analytics to extract events or signals from the data and you can integrate historic data to compare patterns. These approaches are vital in setting up recommendation, notification and prediction engines.
3. From point-to-point to decoupled data access
Disseminating data via APIs allows for limited, but secure direct access to view and modify data, while simultaneously increasing speed, up-to-date access to data sets with shared commonality. Your team can easily re-use data, accelerate access and enable seamless collaboration. API also brings cutting edge collaboration opportunities with analytics teams so AI use cases can be developed with improved ease.
How do we help?
We help you create and publish data-centric and dedicated APIs. These APIs have inbuilt usage policies, can be used to control access, measure usage and study performance. Over time this approach allows developers and users to search for existing data interfaces and reuse them rather than build new ones- drastically bringing down resource allocation, both time and otherwise.
As data, analytics, and AI become less of a buzzword and more of a part of our day-to-day operations, it’s clear that to maintain the momentum of competitive advantage, being on the hunt for a radically different approach to data architecture becomes essential. The radically different approach still needs to provide similar results- scale, speed, accuracy and cost-effectiveness, but at an increasingly rarefied level.
We understand this, and at Meradesh we collaborate with organizations be business, political or media to create and grow data-centric ventures. We encourage leaders to embrace change so that they can position their organizations as agile, resilient, and competitive for whatever lies ahead.