What provides a large amount of monetary value but never shows up on a balance sheet?

Data.

The amount of data available is growing at a rapid pace and knowing how to use it effectively can be the difference between success and failure for an organization. A problem that many organizations run into is the inability to keep up with the amount of data being generated or received and are looking for solutions that allow them to scale, store, and process data faster and more efficiently for a more competitive edge. That’s where Amazon Web Services (AWS) comes in.

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Data democratization is the ability of an organization to provide information to end users in an easy and effective way. The goal is to provide self-service of information to end users with minimal IT support. There are many things that can go wrong when rolling out data democratization projects. The purpose of this article is to identify potential issues and provide guidance on how to avoid them in the democratization process.

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When asked “What’s your data strategy?” do you reply “We’re getting Hadoop…” or “We just hired a data scientist…” or “If we only had a data lake, all our problems would be solved…”? Plotting a good data strategy requires more than buying a tool, hiring a resource, or adding a component to your architecture. You need something to describe:

  • the goals you are trying to achieve,
  • the stakeholders you are trying to serve, and
  • the internal capabilities required to satisfy those stakeholders and achieve those goals

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Is your company suffering from a case of “Bad Data”? Everyone is following the process and doing their job correctly but you still face issues with accurate reporting, operational errors, audit anxiety about your data, etc. Good data should be a given, right?

Well it’s not that easy. In today’s business environment, rapid growth, organizational change, and mergers and acquisitions (M&A) are very difficult to absorb within a fragmented data ecosystem. Multiple disparate IT systems, siloed databases, and deficient master data often result in data which is fragmented, duplicated and out of date.
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Any discussion of Master Data Management automatically includes a discussion of Data Governance. The two go hand in hand. Successful MDM implementations require understanding data ownership, stewardship, and security, as well as determining business rules to be applied to the data. Specific business rules usually include rules for matching and consolidating data items as well as data quality checks. Read more

If your organization is seeking to better manage its information as a corporate asset that is to be valued and capitalized, you’re likely focused on implementing programs that will catalyze measurable business results from mountains of business information that may be the product of the last decade or more of digital transformation initiatives. Read more

One size does not fit all. Try as they might, there is not a single BI platform that can offer every capability that users require. With organizational complexity increasing, and the growing demand for self-service analytics, it has become commonplace, even recommended, for organizations to maintain multiple BI platforms to meet the needs of people in diverse roles with differing needs across the organization. Read more

Governance is the ongoing process of creating and managing processes, policies, and information. This includes strategies, processes, activities, skills, organizations, and technologies for the purpose of accelerating business outcomes. It also involves creating organizations, roles and responsibilities to perform this management. In our experience, many organizations address governance once and often without completing the necessary tasks. Organizations that excel in data and analytics governance continuously manage the process on an ongoing basis. Read more

Last week, Ironside’s partner Pitney Bowes, issued a press release announcing the global launch of its new Software & Data Marketplace.  We believe that accessibility to Pitney Bowes data will be valuable to our clients as they will be able to source and process data from multiple providers in the same applications, leading to easier analysis and collaboration of data points. Read more

According to ‘The Economist’, data is the new oil. It is now the world’s most valuable resource. The volume of data available to organizations to capture, store, and analyze has changed the ways in which organizations address innovation, and analytics is a true competitive differentiator.

Unfortunately, business analysts, data scientists, and other line of business users performing self-service analytics are spending a majority of their time preparing data for analysis rather than actually garnering and sharing the insights to be found in it (1), even with the help of self-service data prep tools like Alteryx, Trifacta, and Tableau’s Maestro (coming soon). Read more