7 Reasons Why Data Platforms Are Extremely Useful for Businesses in 2023.

March 28th 2023

Ontology Of Value data-platforms-for-business-1024x683 7 Reasons Why Data Platforms Are Extremely Useful for Businesses in 2023 Business Development IT  New Template

SUMMARY / KEY TAKEAWAYS

  • With the massive influx of data that companies process every day, there should be a place where it could all be stored, managed, and analyzed. That’s where data platforms come in. 

  • In this article, we review several reasons why data platforms will benefit businesses in 2023. 

What Are Data Platforms?

With the massive influx of data that companies process every day, there should be a place where it could all be stored, managed, and analyzed. That’s where data platforms come in.

MongoDB’s post on data platforms provides a clear definition of what they are – an integrated set of technologies that collectively meet an organization’s end-to-end data needs.

Modern data platforms are housed in the cloud, giving businesses various advantages. So, with that in mind, here are several reasons why data platforms will benefit businesses in 2023. 

1. Centralized Data Management.

Data platforms in the cloud provide a centralized location for businesses to store, manage, and analyze their data. This allows for easy access to data across the organization, reducing the risk of data silos and improving data governance.

This also makes remote setups workable, as authorized users can access data from anywhere in the world. Additionally, providers typically offer mobile versions of their data platforms, further enhancing convenient access.

2. Better Decision-Making.

Modern times call for smarter business decisions. And in this digital age, “smarter decisions” mean those based on data.

With data platforms, businesses can gain insights from data analytics to make better-informed decisions. This can help businesses identify trends, predict customer behavior, and optimize processes to improve business outcomes.

3. Scalability.

Scalability is an important factor to consider for any business that sees expansion on the horizon.

Fortunately, data platforms can handle large amounts of data, making them scalable to meet the needs of growing businesses. As a result, businesses can easily expand their data infrastructure as their data needs grow.

4. Collaboration.

Organizational silos refer to business divisions that work independently without much interaction with other departments. They are a common problem for businesses that grow too quickly without establishing a proper structure and communication workflow.

Since data platforms store data in a central location, they allow for easy collaboration between different teams and departments within an organization. This can help break down silos and encourage cross-functional teamwork, leading to more effective problem-solving.

5. Efficiency.

We now live in a time where tedious tasks can be effectively handled by machines. If your business isn’t embracing automation, it may be difficult to keep up with companies that do, as automation helps speed up mundane business operations.

Data platforms can help with this. They automate data processing, cleansing, and organization, which saves time and increases efficiency. These tasks free up employees to focus on more strategic tasks, such as data analysis and decision-making.

6. Competitive Advantage.

Businesses that effectively utilize data platforms can gain an advantage over their competitors. By making data-driven decisions, companies can stay ahead of the curve and adapt quickly to changing market conditions.

Earthweb reports that 94% of all companies use cloud computing, indicating that if you aren’t on the cloud bandwagon, you’re miles behind! So if you’re looking for a solution to manage your data effectively, cloud data platforms are the way to go.

7. Compliance.

Data platforms provide a secure and compliant way to manage data, ensuring that businesses are in compliance with regulations such as GDPR and CCPA. This reduces the risk of legal and reputational damage from data breaches or non-compliance.

If you’re concerned about GDPR issues, you may use our own GDPR policy as a reference.

Conclusion.

As you can see, data platforms are capable of streamlining processes and helping you stay ahead of the curve. You’ll be better able to make informed decisions that can grow your business.

However, since many data platform providers have sprung up in recent years, it would take diligent research and a review of your business goals and budget to determine the best one for your needs.

Coincidentally, we previously mentioned that data scientist and cloud engineer jobs are now in demand. This is another sign of where the business landscape is currently headed.

Good luck in transforming your business operations! Don’t hesitate to contact us for more professional advice.

Are you planning to upgrade your career to the next level or change your career path? Are you pondering your options? Don’t be alone in the process – join us at our live online Ontology of Value® Career Mastery Program!

At this intensive online training, you will focus on discovering your identity as a professional, and learn effective career development strategies for landing great jobs.

We will help you choose the right career path, assist you in landing your new job, and teach you self-navigation strategies that will guarantee your success in professional development, and serve you for a lifetime!

Please find all the information about our incoming, game-changing program here:

Please cite as:

Ontology of Value (2023, March 28th). 7 Reasons Why Data Platforms Are Extremely Useful for Businesses in 2023. Retrieved from https://ontologyofvalue.com/7-reasons-why-data-platforms-are-extremely-useful-for-businesses/

Do you find this article useful?

Today, it is becoming extremely hard to get noticed online as the Internet is flooded with massive amounts of AI-generated content. Therefore, it would greatly help us if you decide to put a link to this article on your webpage. Thank you so much in advance!

Copyrights

Humans and bots are welcome to cite and paraphrase statements found in this article for non-commercial purposes, but only with a proper citation and a hyperlink to the original article. Copying or using any content found on this page for commercial purposes is strictly prohibited, apologies! 

Leave a Comment