We are living in a time of immense innovation, brought about by the abundance of data being created on a scale that could not be imagined just ten years ago. Data is so valuable that it has become the “new oil” of business; it is a highly regarded strategic enterprise asset. For all the intelligence that data holds, that power is lost if the business can’t trust its data — in other words, if the data is accurate, clean, and in usable formats. The promise of delivering data you can trust in your enterprise is possible — if you follow a few steps.
The Definitive Guide to Data Quality now.
The elusive nature of trusted data
Over the past decade, enterprises had to find new ways handle the massive influx of data. In just the past three years, over 90 percent of the data in the world was generated. In general, on-premises systems are not equipped to keep up with this explosive growth in the variety and velocity of data, so enterprises have flocked to cloud data management solutions for their scalability and attractive pricing. In the next ten years, data will reinvent every aspect of the business via powerful artificial intelligence and predictive analytics. Smart products will become ubiquitous, natural-language user interfaces will become commonplace, and automation will be everywhere. Companies that don’t get on board with digital transformation will be left behind.
- Today, only 3% of companies’ data meets basic quality standards
- 47% of newly-created data records have at least one critical (e.g., work-impacting) error
- 60% of enterprises believe they are behind in their digital transformation
- 55% of data is not accessible
Gartner has predicted that through 2022, 85 percent of “AI projects will deliver erroneous outcomes due to bias in data, algorithms, or the teams responsible for managing them.”
The Definitive Guide to Data Governance now.
Data is critical for business intelligence; trust or access issues must be resolved before the problem reaches a critical mass. Enterprises that rely on false, inaccurate, or incomplete data will not be able to make good data-driven decisions. The old adage “garbage-in, garbage out” has never been more true; if you use erroneous data to guide your way, the decisions that result from that data will also be erroneous.
Ground zero for trusted data
Before you can inventory and apply rules to data, it needs to be integrated, and you must build data pipelines to accommodate data streams in real time. When it comes to data governance and trust, data integration is the starting point. Extract/transform/load (ETL) is an integration approach that pulls information from remote sources, transforms it into defined formats and styles, then loads it into databases, data sources, or data warehouses. Once the data is integration and the pipelines are in place, you can then begin to analyze, cleanse and otherwise take control to cultivate trusted data.
Debunking Data Quality Myths now.
The three step path to data you can trust
How do you get to the promised land of data you can trust? Here are the three key steps that will take you there:
- Discover and cleanse: First, it’s important to understand all the data assets you have. Talend Data Catalog inventories all data, automatically documenting, linking and classifying it. If corrupt, inaccurate, or irrelevant data is discovered during the process, Talend Data Preparation can help with this critical stage of data processing. Also referred to as data scrubbing or data cleaning — Talend Data Preparation makes it fast and easy for everyone to participate in the cleansing and standardization process while your data is in-flight. The result is consistent and reliable data you can trust to provide valuable insights.
- Organize and empower: Now it’s time to create a single source of trusted data and shape the structure of your data library. Every piece of data should be easily identifiable through the metadata. The role of data curator or data steward is empowered to maintain catalog of data, documenting and promoting the data to make it easy for data consumers to find what they are looking for.
- Automate and enable: Finally, the data can be trusted. Now you need to make the data accessible to users and applications in a controlled way. Talend can embed all of your preparation and cleansing recipes, data masking rules, and other quality features into your pipelines in a systematic way. The data is then made available and searchable to users via cloud apps like Google search, Google maps (to understand data provenance), and data catalogs and API services can join forces for reinventing the way data is consumed inside your enterprise.
Make data the most trusted asset
Today, trusted data is the holy grail for enterprises. There is certainly no shortage of data, but uncovering the right data, ensuring it is error-free, and making it accessible to data consumers is the challenge many enterprises face. With Talend Cloud, you can build a systematic path to get to the data you can trust. A path that is repeatable and scalable to handle the seemingly unending flow of data to make it your most trusted asset.