Success today is all about data: collecting it, harmonizing it, analyzing it, and quickly making the smartest business moves in response to it. In fact, a McKinsey study revealed that organizations that embrace customer analytics strategies have been shown to outperform their competitors and improve their corporate performance. An elastic data hub architecture can make those benefits a reality for your organization through greater speed, power and flexibility.“Elastic” simply means that the hub runs on a highly scalable and resilient infrastructure and resides on the cloud. An elastic architecture takes the traditional hub-and-spoke data warehousing model and amplifies it to make data instantly available in the way your company needs to access it. An elastic data hub also allows you to access and aggregate data as it is being generated, without the delays common to many data platforms.
Elastic data hubs allow you to establish a place within your data repository where you can parse and re-parse the data as needed without affecting business-critical source systems. When you are working with mainframes or OLTP (online transaction processing) databases, it can be time-consuming to obtain permission to pull out large sets of historical data.
Integrating diverse IT systems is far easier using the data hub approach. Traditional solutions require choices from the beginning about your data model and what data is most important to you. These legacy approaches also require expensive, long-term technology investments.
As a result, every time your data priorities change, or you experience changes in the ways your employees and customers want to interact with your data, for instance, you must reformat the data and adjust your priorities. These changes eat up valuable time and put pressure on business-critical transactional systems.
Elastic data hubs provide a faster path to insight-driven business processes and the rapid, informed decisions that these processes make possible. Traditional reporting and business intelligence answer questions about what took place in the past. Elastic data hubs enable you to predict what you can expect in the future and with that prediction, you can measure that against what you want to happen, then adjust your strategies and tactics to meet and exceed your objectives.
As stated previously, organizations that embrace customer analytics strategies have been shown to outperform their competitors and improve their corporate performance.