Название: Why External Data Needs to Be Part of Your Data and Analytics Strategy
Автор: Joseph D. Stec
Издательство: O’Reilly Media, Inc.
Год: 2022-01-10
Язык: английский
Формат: pdf, epub
Размер: 10.1 MB

Innovative organizations today are reaping the benefits of combining data from a variety of internal and external sources. By collecting, storing, analyzing, and leveraging external data, these companies are able to outperform competitors by unlocking improvements in growth, productivity, and risk management. This report explains how you can harness the power of external data to boost analytics, find competitive advantages, and drive value.

This report expands on the aforementioned points and answers the following questions expounding on the rise of external data:

- How is new technology making external data easier to use with analytics?
- How does an external data platform fit into your data architecture?
- How can you start leveraging external data today?

The right automated external data platform offers an alternative to this tedious process and can be a one-stop shop for all of your external data needs. A one-stop data shop, which will be covered in further details in the next chapter, can provide the following features:

- Easy access to external data all in one place
- An organized data catalog that provides instant access to datasets and is accessible to all members of an organization
- Seamless integration into BI and ML processes with several ways to integrate data into your analytics pipeline
- A guarantee of data quality and consistency
- Recommendations for the best external data to add to your ML model to improve accuracy

If any data practitioner—be they data analysts, business analysts, machine learning engineers, data engineers, or data scientists—needs external data, they no longer need to jump through the five aforementioned hoops. As you can see, data architecture has come a long way in the last half-century. We’ve gone from groundbreaking, yet rudimentary, relational modeling procedures to the 3 V’s. We’ve also journeyed from only accessing structured data to the tedious process of searching for, sampling, procuring, and integrating external data—all the while with uncertain ROI.