How does Data Compatibility provide a Competative Business Advantage?
Digital transformations can provide businesses with a significant competitive advantage. The most advantageous digital transformation is from the Siloed Data Generation to the Compatible Data Generation. This digital transformation can greatly reduce operational costs while providing on-demand access to real-time trusted information shared across the organization. Eliminating siloed data is a critical competitive business advantage.
The Siloed Data Generation is based upon siloed data systems that do not directly share their data. Siloed data has been a recognized hindrance to businesses for over three decades. The incompatibility of siloed data systems requires expensive hand-crafted data transformations to overcome. The Siloed Data Generation often depends on data warehouses, data lakes, and now data fabrics, all of which are also siloed. These supplemental data systems were all developed to lessen the siloed data impact on businesses. Unfortunately, these supplemental data systems are complex, inflexible, and expensive to implement and maintain.
The Compatible Data Generation is based upon data systems that seamlessly share their data. The Compatible Data Generation does not require any of these supplemental data systems since the needed data functionality is included in the compatible data systems. Every compatible data system becomes a seamless extension of other compatible data systems. The entire set of compatible data systems collaborate to form a Compatible Data Fabric spontaneously. With compatible data, businesses will be more efficient, more informed, more responsive, and the expenses associated with siloed data will be eliminated.
New technology often brings new business opportunities. Everyone would agree that the Internet was an important technological advancement that eventually brought us websites, email, Linkedin, Google, Facebook, and much more. Just like the Internet opened opportunities for connectivity and networking, data compatibility will open untold business opportunities as well. For example, Maxxphase Data Compatibility Standards may be used to integrate data within an organization, across multiple organizations, or across industries.
Summary
The digital transformation from the Siloed Data Generation to the Compatible Data Generation is a critical path to competitive business advantages. The Compatible Data Generation instantiates a new technology for integrating data that should facilitate new business opportunities.