IBM recently reported that in 2020, every person generated 1.7 megabytes of data per second. With the rise in technology adoption and digitization, the volume of data produced and consumed every day is increasing exponentially. Clearly, data is being considered an asset that – if leveraged strategically – has the potential to redefine work, education, and business. However, simply collecting data is not enough; enterprises need to be able to process it, refine it, and connect to it, so that they can unlock the full value of data.
Unlocking the Value of Data
While enterprises have become aware of the potential value of increased data production and consumption, there is still a gap when it comes to being able to actually leverage this value for business innovation and success. The major challenge has been that most of the data produced today is unstructured and comes in different formats, file types, and volumes.
Enterprises today are not only looking for solutions for making sense of the available data, but they are increasingly seeking solutions that help them to seamlessly connect to the different data sources they have at their disposal, as needed, rather than physically moving all of the data into a central repository. As we move towards an increasingly digitally interconnected world, acting upon data insights produced in silos will only yield limited results. However, unlocking the value of data requires not only a way to integrate data in real time but also a more strategic approach to data management.
Business Outcomes with Data Virtualization: From a CXO’s Lens
To meet this need, organizations are leveraging data virtualization, a technology that integrates all enterprise data siloed across the disparate systems, manages the unified data for centralized security and governance, and delivers it to business users in real time, all without replication. Data virtualization is empowering CXOs with connected data insights to drive better outcomes in a variety of ways:
Strategic Decision Making
Data virtualization enables CXOs and other business leaders to transcend the data silos and facilitate greater interconnectedness among different data sets generated across different parts of the enterprise. This enables decision makers to capitalize on patterns and connections that might otherwise have been hidden. With data virtualization, CXOs are able to not only leverage comprehensive insights, but also benefit from the diverse connected nuances and patterns that facilitate strategic decision making.
Improved Enterprise Agility
Agility has been one of the key qualities that has enabled enterprises to survive – and even thrive – during the pandemic. Enterprises that are able to leverage data-on-demand and respond to changing circumstances are considered highly agile and well suited for the volatile, uncertain, complex, and ambiguous world we live in. Because data virtualization connects to underlying data sources in real time, it enables enterprises to more agile.
Data virtualization can deliver up-to-the-minute data to business users to facilitate quick responsiveness. By avoiding replication, data virtualization cuts down on storage and maintenance efforts, further contributing to agility.
Increased Productivity and Lower Costs
The real-time availability of business data enables users, CXOs, and leaders to leverage the most current data, increasing productivity. Data virtualization’s zero-replication approach leads to a considerable reduction in the cost of the overall infrastructure. Finally, reduced costs coupled with real-time data access and faster turnaround significantly augments enterprise efficiency at all levels. Data virtualization considerably reduces the time and cost associated with workload management, report generation, and other such tasks, which significantly leads to better business outcomes for CXOs.
Data virtualization supports data integration and data management efforts with:
- Real-time intelligence
- Faster and more cost-effective solutions, leveraging a zero-replication approach
- Increased connectedness to break down silos and gain diverse insights
- Greater security by insulating critical data from unintentional changes, threats, and vulnerabilities
Data virtualization has the potential to unlock value for all C-level executives in an enterprise, leading to a greater competitive edge with enhanced risk anticipation, a better understanding of market trends, and a complete 360-degree view of the customer.
The Denodo Edge
Denodo has been recognized as a Leader in Gartner’s Magic Quadrant for data integration tools. Working with some of the world’s top enterprises, Denodo has enabled increased productivity, accelerated delivery, stronger security, and centralized data governance. With Denodo, CXOs can power business impact via:
- Real-time access to data for agile decision making
- Reduced cost, by eliminating thousands of hours of development time
- A simplified data-access layer, making it easier for business users to gain value from the data.
Denodo data virtualization can help CXOs lead enterprises towards success by unlocking the full value of the available data.
Excellent topic and knowledgeable
Very Informative Blog