With digital transformation changing the game for many businesses, the ability to gather analytics for business decisions is becoming more important than ever. With data sources dating back many years, there is a wealth of information that can be turned into a strategy to move a business forward. However, rather than combing through datasets that date back ages, data virtualization software can facilitate integration and analysis, with real-time capabilities. Let’s take a closer look at what these data services have to offer and how you can put them to work for your business.
Data virtualization technology has four main capabilities that make it an ideal form of data access. Data virtualization tools are designed for agility and development. They allow companies to dive deeper into their available data, uncovering hidden relationships that will then allow them to model individual views and services. This business data will thus be validated, with the models being modified if necessary to improve the time to implementation of the solution. This creates a high-performance runtime by building applications that invoke a query while providing real-time access to that source system with less replication.
The right data virtualization platform will cache critical data, delivering the information in its proper format as established by business intelligence specialists. By adhering to this standard, this capability increases performance, eliminating network constraints with good data governance. Companies can also create their own directories to better facilitate research, browsing through all available data with the possibility of focusing on particular offers. By adopting data virtualization, business users can access more data faster.
There are multiple forms of use cases that can help companies comb through real-time data with limited performance issues with the right architecture. For example, analytics use cases are used to prototype the physical integration of data. Using cloud-based technology, analytics can help build a logical data warehouse over time. Operational cases create abstract access to data with a registry-like reference for data management. This simplifies migration and improves data quality. Emerging cases facilitate sharing across varied data sources through IoT integration. By enabling dashboards for this integration, real-time access is now at the user’s fingertips.
This adaptation of data virtualization can help accelerate business value by applying analytical applications earlier. This allows for greater value to be achieved more quickly through changes to these platforms. By using this real-time data, companies can improve their insights with less effort. This leads to reusable data services and interactive development to improve data quality while saving on development expenses. These reduced data management infrastructure costs also reduce the number of licenses that need to be purchased to bring order to the data.
Sectors for data management
Data virtualization tools can be used in multiple industries of activity to bring companies into a new era of information technology. A proper database can help a communications company differentiate itself in its market research. This builds a virtual customer data lake, increasing revenue through deeper technical details about what makes the consumer tick. Customer service is thus optimized, which promotes innovation from this data storage. Manufacturers can optimize their supply chain, working with vendors and other outlets to build a seamless process that can be better optimized with access to real-time data.
In the financial services industry, companies can accelerate new customer onboarding while preventing replicated data from inhibiting their data virtualization servers. It also enriches the cash management of current customers, by improving the reconciliation of data sources. In healthcare, this improves patient care by allowing multiple users to access a data warehouse. It also speeds up the efficiency and analysis of claims, allowing companies to rise to the top of the market.