Data is one of the most valuable resources in the world today. It is the currency in the current century, and companies that know how to manage and use data are finding it easy to grow.
There is a lot you should know about data intelligence, on-demand data access, and what makes it that important when it comes to data.
What is data intelligence?
Data intelligence is a type of system set to deliver reliable and trustworthy data. This includes intelligence about data and metadata. Data intelligence should help organizations to answer the most fundamental questions about data. Some of those questions include:
- Where is the source of data?
- When is the data being accessed, like when was it updated?
- Why does the company have data in the first place? Why does the company need to discard or store data?
- How should the data be used?
By answering the above questions, data intelligence can support human understanding. Data intelligence also paints a clear picture of how companies and individuals can use data, educating on the assets’ reliability and relative value. With information on how an asset has been used in the past, companies can determine how it can be used in the future.
Benefits of Data Intelligence
In the quest to make better or informed decisions, data experts need data intelligence (DI). The main role of DI in any organization is to ensure the staff is smarter about the organization and be more equipped to make decisions that impact growth. Here are some of the key benefits of DI you should know:
- Effective decision making: With the right data on the business information dashboards, it is easy for company leaders to make quick and effective decisions that affect the business. Effective decision-making is crucial to any business that intends to stay ahead of the competition.
- Operational Efficiency: Data Intelligence is a must-have element in any organization that strives to ensure operational efficiency. Before data intelligence, most data analysts would spend hours searching for trustworthy data. This slows down operations in organizations. With DI, analysts can sort the wheat from the chaff and spotlight the most trusted assets for wider usage speeding up operational efficiency.
- Augmented analytics: DI has empowered analytics in most organizations, enabling augmented analytics adoption to applications. Augmented analytics supports predictive and prescriptive analytics use cases.
- Transparency in data: Data intelligence can align minds around organizations by creating a system around how new information is proven. Most of the DI software may borrow from scientific methods to help in establishing transparency in data.
Data intelligence is an important denominator for the growth of organizations. Today most companies depend on data analysis for effective decision making, and with DI, this is made simple and easy.
In this article, we have defined data analytics and mentioned some of the reasons why businesses should consider dedicating their resources to having a reliable DI team.