Digital-only companies showing the way for the future data and analytics

I´ve had a chance to spend some time with digital only companies by networking, having dialogue with them and running interesting projects for them.  I believe that the digital only companies are showing the way to better business performance with smart data utilization.

THE DATA APPROACH OF THE DIGITAL-ONLY COMPANIES

The digital only companies often approach data in the following way:

1.       Go cloud and use processing capacity only when you need it. Use cloud elasticity to scale up and down.

2.       Provide data driven real time personalized experiences.

3.       Go for the business value, no need to focus on data structuring.

It’s refreshing to look at the view where everything from traditional “data warehousing” is challenged and nothing is directly applicable anymore.

I agree with most of the above.

  •  I agree that data is more than just KPIs for the management. I believe that it is fundamental to go beyond traditional financial KPIs towards customer centric and more operational metrics, and bring those available for the whole organization (data democratization). But yes, data is more than just KPIs. Data and analytics enable
    automated, improved decisions and improved customer experience and better services.
     
  • I have become a great believer of cloud technologies and the power of cloud elasticity. You don’t need to have own data centers and dedicated machines to manage your data and analytics workloads. You take processor power when you need it (and it is cost efficient to use).   
                     
  • But I disagree that big data driven world would not need an accountability model for data, data governance and data modelling anymore. I see that it is equally important to have proper data governance and modelling practices in place that it has been in the traditional DW world. The only difference is how it is implemented.