This year, IT pros are reportedly prioritising data management as a key investment. Nevertheless, many companies are failing to extract valuable information from their data due to poor management.
Increasingly complex challenges
Companies are now facing “increasingly complex data challenges that can determine the success or failure of their business,” according to an Experian report. As a result, it has never been so important to possess accurate and reliable data.
In the report, organisations said that they suspect almost a third of their data is inaccurate. Moreover, 70% indicated that they did not have the “direct control over data that they need to impact strategic objectives – namely customer experience.”
Overall, an overwhelming 95% of respondents said that poor data quality undermines business performance. Another report suggests that while most execs recognise the value of data as an asset, many are experiencing hurdles when implementing data initiatives.
The rise of Big Data
A recent report from Dresner found that 80% of enterprises believe Big Data is important to their business intelligence strategy. In fact, from 2015 to 2018 Big Data adoption in the enterprise grew from 17% to an overwhelming 58%.
Approximately 92% of leading companies are also increasing the pace of their investment in Big Data this year. NewVantage Partners also found that 88% of respondents expressed a keen urgency to invest.
However, “today’s data managers are challenged with a growing ecosystem of data sources and warehouses”, according to OmniSci. As a result, this means that big data integration is more complex than ever.
Seamless Big Data integration
As OmniSci points out, data lives in many data warehouses and data lakes and continually flows in through streams or rests at point-in-time files. It is therefore integral that today’s big ingestion tools integrate with a wide variety of data sources and networks.
Regardless of the source, OmniSci allows companies to easily handle data ingestion of millions of records per second. Using the OmniSci Core open source SQL engine, enterprises can benefit from seamless Big Data integration.
Many platforms currently offer automated streaming data analytics tools. However, only OmniSci can ingest the “billions of records per week” created by large organisations and make it available for interactive exploration by business analysts.
How important is the value derived from data? Listen to our podcast with Big Data Strategist Lillian Pierson to find out