Get Trusted Data without Sacrificing Speed

In this data-driven world, the overall pace of business is sharply accelerating. At the same time, there's more and more innovation happening. Things that used to take a week, or an hour, are now expected in real-time. Companies that can move fast to take advantage of all the changes and move at the new pace of business will win in the market. But, as we all know, speed is critical and it's necessary, but it's not sufficient. You need trusted data. You need to get the data right. How do you get data you can trust, and get that data quickly?

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Winning businesses are built on trusted data

Data is a strategic asset. The companies that can use their data most effectively are winning. The reasons are simple. Data drives all business, but to be successful, the data must provide trusted insight that powers the business. Trusted data has the power to:

  • Tell you which products to build
  • Allow you to create brand new business models
  • Enable you to create better customer experiences based on what you're doing and what other people like you have done
  • Give you a chance to make better business decisions so you do better sales and marketing campaigns, you improve your operations

It’s easy to see — the faster you can get trusted data, the better your operations will be. Getting there is a challenge for most enterprises today, but it doesn’t have to be.

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The data preparation challenge

The first and longest mile in the journey to trusted data is taking the raw data and making it insight-ready. According to Gartner, that first step of data preparation is 60% of the time and cost in solving the data problem. Spending that much time to make data usable is a hurdle for companies focused on change and innovation to keep up with the competition. Change is exhilarating, and Reid Hoffman, the founder of LinkedIn has been widely quoted about the critical advantage that speed provides. Hoffman coined the term “blitzscaling” to describe how companies must achieve massive scale at incredible speed to succeed in today’s ever-changing landscape.

Trusted data remains elusive

With speed as the first hurdle, getting trusted data is the second challenge that enterprises must overcome. According to the Harvard Business Review, nearly half of companies say they can't trust their data. Their data has integrity problems. It's incorrect and inconsistent. More than half of enterprise data simply isn't accessible. It's been locked up in some silo or in the wrong format. If your data's not accessible, you're not getting any value from it. That leads to missed opportunities, increased risks, and lower ROI.

If the most important thing to you and your company is not trust, you need to look again. As Mark Benioff, founder of Salesforce, told the World Economic Forum, “Trust has to be the highest value in your company, and if it's not something bad is going to happen to you. It’s a culture issue. What is the most important thing in your company — is it trust or is it growth? If anything trumps trust, we are in trouble...You must choose what is important to you. We are in a new world...and trust better be number one.”

From a data perspective, this means getting your data right, getting it clean, and governing it so you know what's happened to it along the way. Many enterprises believe they must choose between speed or trust, and that's a problem. Some try to tackle this with a point solution or building something quickly with hand coding, but then they hit a wall. It's not scalable. It's not governed. It's almost impossible to maintain. There are a set of problems you simply can't solve that way.

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You want trusted data, and you want it now. You can turn to one of the big legacy incumbents for help, and they can solve your most complex enterprise data problems, and your most complex trust problems. The challenge is it can take months, years, hundreds of thousands, even millions of dollars to get there. It's expensive, it's slow, it's restrictive, and it ties you to the past. And after all is said and done, you have sacrificed speed to get data you can trust.

Speed and trust without compromise

Here are two companies that have chosen to approach data trust and speed as equal priorities, and how they made those goals a reality:

Euronext is Europe's first and largest stock exchange. The financial giant wanted to take their decision-making from next day to real time. First, Euronext needed to solve their scale problem because the exchange had an enormous amount of data and didn't want costs to go up as they did more and more processing. And, as a financial exchange, the organization is tightly regulated, so they had to solve their compliance and regulation problem and ensure they had trusted data.

Euronext decided a move to the cloud would be the best way to address their scalability, speed, and governance challenges. The stock exchange began working with Talend, creating a governed data lake with self-service access. Their lineage and governance problems went from taking weeks to seconds down to just one click. Euronext now delivers and processes ten times more data for the same spend and has 20 percent of their revenue in data monetization from data sharing. The results have shown that it’s possible to organize, process, govern, and share data with speed and trust together without compromise.

AB InBev is the world's largest brewer. Like a lot of large enterprises, AB InBev had grown over the years through many acquisitions. In fact, they had 27 different ERP systems and 20 different integration solutions to tie all the disparate systems together. The company set out to build a cloud data hub to get their arms around all that data, to ensure the data is trusted, and be able to make decisions faster. By working with Talend and Microsoft, AB InBev not only achieved faster decision-making, it also was able to achieve better forecasting and reduced time to market—and is the proud distributor of the top three best-selling beers in the U.S. today.

The race to speed and trust

The cloud goes hand in hand with data speed and trust. Why? Because it's simply better, faster, more scalable, faster to install, goes live in minutes, is always up to date…and the list of cloud benefits goes on and on. The cloud makes it possible to have it all — and Talend can help enterprises bring it all together to deliver trusted data at incredible speed. Data is power. It’s time to harness the potential that your data is just waiting to deliver.

Try Talend Cloud free for 30 days to find out how your enterprise can get trusted data without compromising on speed.

| Last Updated: March 27th, 2019