Working with data in today's companies is like working in the wild west. There is an explosion of tools, technologies, and opinions on best practices that may not be relevant to your team. That said, regardless of your business's size, industry, and data maturity, there are 3 facts about data in companies today that are true across the board. They are:
- Data is increasing
- The winners will be those who make the best decisions using that data
- Good data practices are complex
These facts matter because knowing them means you can take steps to ensure your team is data enabled and prepared to handle the volatile data infrastructure landscape with minimal difficulty.
Starting with the first fact, modern data is increasing at an unprecedented rate. The advent of new technologies, the proliferation of connected devices, and the widespread use of digital platforms have led to an explosion of data. There are more sources for data and more of it in each source. This data can provide valuable insights into customer behavior, market trends, and business operations, but it can also be overwhelming for your team to manage.
The winners in this data-driven landscape will be those who make the best decisions using that data. Those who can effectively analyze and leverage their data will be able to gain a competitive advantage over those that cannot. This is because data can provide insights into customer needs, preferences, and behavior, enabling you to tailor your products and services to better meet those needs. It can also provide insights into market trends and competitive forces, enabling you to make strategic decisions that position your team for success.
However, leveraging data effectively requires good data practices, which are complex to set up and maintain and often require data engineers. To ensure your data is accurate, consistent, and protected against unauthorized access you need to build a modern data pipeline. This involves mastering and connecting technologies from the following categories: data sources, storage, integration and ETL, analytics and reporting, and data governance and security tools. These practices require specialized expertise and technology and often over serve your use case.
Furthermore, data is not a static asset. It is constantly changing and evolving, requiring ongoing management and maintenance. You need to be prepared to adapt to changes in data, technology, and the regulatory environment, and to continuously refine your data practices to ensure that they remain effective and relevant. You need tooling that easily enables you to do this, so you can be well-positioned for success. WayScript is that tool.
