One of the major IT challenges the businesses we speak to encounter is accessing and extracting value from distributed data assets. That’s because nowadays most organizations have huge volumes of data at their disposal, with that data often being dispersed across tens or even hundreds of different systems and taking different formats.
This makes gaining a consistent, accurate, real-time view of data across the enterprise and leveraging that data for insights extremely difficult. The complexities of integrating and transforming the data also hold many organizations back from using data for analytics and ultimately extracting value from their data.
Together, these significant and ongoing challenges have served to highlight that traditional data architectures are no longer compatible with supporting next generation requirements and have led many organizations, including global fintech leader Broadridge Financial Solutions, to look for an alternative.
That alternative? Enterprise, or smart, data fabrics – a fundamentally different and superior architectural approach that has grown in popularity in recent years.
This will be the topic of our upcoming webinar, “Enterprise Data Fabric: Unlocking Value from Distributed Data Assets,” with guests:
- Noel Yuhanna, Vice President, Principal Analyst
Forrester Research, one of the world’s most influential research and advisory firms
- Raghu Kottamasu, Vice President, Development
Broadridge Financial Solutions, a global fintech leader that handles millions of highly valuable trades each day
We will be discussing all things enterprise data fabrics, even giving insight into how Broadridge has implemented one within its own environment. You can register for the webinar here to secure your seat, but perhaps you are wondering what an enterprise data fabric is, and why it should concern you.
Enterprise data fabrics – what’s all the fuss about?
By now you’ve probably heard of the enterprise data fabric, which unlike other architectures such as data lakes for instance, accesses, transforms, and harmonizes data from multiple sources, on demand, to make it usable and actionable for a wide variety of business applications.
Real-time analytics capabilities are built directly into the fabric, providing extremely high performance, and making it faster and easier for organizations to gain new insights and power intelligent predictive and prescriptive services and applications. This also allows organizations to keep the data where it is, rather than moving it to different environments for analytics, as such improving efficiency.
All of this helps to remove latencies and silos, and allows consumers of the data to access live data from various sources on demand and gain an integrated, trusted, and real-time view of their data to power everything from customer 360 to risk management and fraud detection.
In short, it helps to overcome the challenges posed by traditional architectures and allows businesses, regardless of industry, to extract real value from the wealth of data they have available.
Where to start with implementation
As with organizations like Broadridge, you most likely have hundreds if not thousands of data sources. So, rather than trying to boil the ocean, start small by using an enterprise data fabric to connect a handful of sources that correspond to a clear business goal. That way you’ll see almost immediate value from your data fabric initiative. From there, you can gradually increase the number of sources connected by the data fabric.
Crucially, enterprise data fabrics don’t require you to rip and replace your existing technology investments, but instead allow you to maximize them. While an enterprise data fabric isn’t something that can be bought as a single product, but rather is made up of several components, our InterSystems IRIS® data platform provides many of the capabilities needed to implement one.
Our next generation data platform speeds implementation of enterprise data fabrics, allows organizations to see value faster, and simplifies data architecture and maintenance. This is worlds away from having to implement, integrate, and support the large number of different data management services that would otherwise be required to implement an enterprise data fabric.
Want to hear more? Discover more about what enterprise data fabrics can help you achieve, as well as how you can implement one by registering for our webinar featuring Forrester and Broadridge here.