Setting up a system to govern your data is crucial to ensure your organization runs smoothly. Just as the democratic system helps the American government function, you need data democracy to handle the demands of today’s digital world.
It’s essential that companies today understand the importance of data democracy and how to implement it. That’s why I decided to discuss how to Democratize Analytic Data with TIBCO® Data Virtualization (TDV) with Stephen Archut, Senior Product Marketing Manager for TDV at our TIBCO NOW Chicago breakout session.
Today, organizations require massive amounts of data. They need it to transform their customer engagement to delight and retain their customers, to re-engineer their R&D and get new products to market faster than their competition, and to optimize their business processes for quick market responsiveness.
Digital companies rely on an informed citizenry, data for everyone in the organization, but what’s driving this growing need?
What’s Driving Data Democracy?
In today’s discussions around data, we call this “data democracy.” This trend has been growing rapidly and is primarily driven by these three massive business and technology shifts:
- The “self-service BI” revolution: Part of this impressive growth has been caused by the initial and pervasive use of Excel and a new generation of powerful visualization tools such as TIBCO Spotfire®. These tools have greatly expanded the analytics user counts from a limited IT team to nearly every professional at large organizations. With these tools, anyone can be a business analyst. To succeed, these millions of empowered users not only need easy data access, they expect it.
- Insights as competitive advantage: Digital transformation is changing how businesses compete and win in today’s market. Whether the strategy is better customer experiences, faster time to market, or leaner business processes, data is the common fuel powering these massive transformations. And thus, data has become more important than ever.
- Data is everywhere, yet nowhere: With the advent of big data, the Internet of Things (IoT), the cloud, and other technologies, data today is now distributed far beyond tightly controlled databases and warehouses. While these technologies are allowing firms to capture, process, and store more data than ever before, according to research by the Harvard Business Review and analyst firm IDC, organizations today struggle with using the data. Using less than half of what they have, gaining access to more than they need, and generally spending four hours finding and accessing data for every hour spent analyzing it, organizations need help with their current data strategy.
Want Data Democracy? Vote for Data Virtualization!
At a glance, the concept behind data virtualization is not complicated. It’s all about hiding IT’s complexity to make data easier to use. It’s about making multiple, disparate data sources appear as one virtual source, independent of underlying structure and storage.
This is why according to leading analyst firms data virtualization demand is exploding.
“Enterprise data virtualization has become critical to every organization in overcoming growing data challenges. These platforms deliver faster access to connected data and support self-service and agile data-access.” 1
“Through 2022, 60% of all organizations will implement data virtualization as one key delivery style in their data integration architecture.” 2
As enterprise-grade middleware, TIBCO® Data Virtualization provides the data access, federation, transformation, and delivery that organizations need to provide secure, consistent, governed data at data democracy scale.
During its 2018 TIBCO NOW presentation, Open Data Access for Everyone: Transforming with Data Virtualization, MetLife described how it was using TIBCO® Data Virtualization to empower everyone at the company with access to nearly all its internal and external data, excluding regulated data. In less than a year since the initial purchase, it has delivered over 25 data-driven solutions and was well on its way toward true data democracy.
How Will You Vote?
If like others, you too are seeking the business value data democracy can unleash, then make a vote for TIBCO® Data Virtualization.
To learn more, please check out the many resources available on the TIBCO® Data Virtualization homepage.
Join us for the final stop of the 2019 TIBCO NOW Global Tour in London September 25-26 to discover more ways to fuel innovation through digital transformation.
1. The Forrester WaveTM: Enterprise Data Virtualization, Q4 2017 The 13 Vendors That Matter Most And How They Stack Up by Noel Yuhanna. November 15, 2017
2. Gartner -Market Guide on Data Virtualization. 2018 by Ehtisham Zaidi, Mark A. Beyer, Ankush Jain. November 16, 2018