Business competition has increased due to globalization. Both data producers and consumers use their homes and other hybrid places for work. People also need easy access to data systems to perform their tasks in a workforce that is becoming more dispersed.
Speed is key in today’s hyper-digitized world. Monolithic data architecture and legacy data platforms hinder digital transformation initiatives. Hence, data modernization becomes a key plot for organizations to improve decision science capabilities and accelerate digital transformation. In this blog article, we take a close look at data modernization and its key role in digital transformation.
What is Data Modernization?
Data modernization is the transfer of data from old databases to modern databases. Any organization that holds unstructured data, such as images, mapping, customer audio, social media remarks, clinical notes in healthcare, customer meeting notes, and so forth, must prioritize data modernization. Many businesses have moved this data from structured data warehouses to open-source data lakes like Databricks, Cloudera, and other solutions because they offer more freedom, data analysis, manipulation, and storage options than the older, more constraining warehousing options.
Stages of Data modernization:
For businesses, Data modernization implies new levels of business insight while supplying the appropriate data to the related application at the right time. With the following stages, one can leverage the complete benefits of Data modernization.
- Data assessment: Obtain a comprehensive understanding of the existing data and its structure to identify any issues or inaccuracies as soon as possible. As a first step, data backups should be taken, so that they must recover in the event of unforeseen circumstances.
- Pre-migration stage: You can create a comprehensive profile of your data using data profiling, which includes information about the kinds of data, the number of records, and the distribution of values. Analyze the data while performing calculations, as data entered with the incorrect data type or format can create issues. You can use a collection of rules or algorithms for finding and fixing discrepancies and errors in the data. Depending on the complexity of the error or the size of the database, the data cleansing procedure can either be automated or done manually.
- Data transformation: The next step is data integration, which involves combining information from various sources (systems, applications, and databases) into a singular database. It will give you a unified view of the data. Automated data validation, a type of data cleansing, is a feature found in the majority of data integration systems. Data modernization enables us to validate that data integration from various sources and repositories has not been tainted by context or type inconsistencies. Now, the new data can be shifted from an outdated system to a more recent database system. Tools for data import/export and other data management can be used to conduct data load.
- In-process Migration: Throughout the migration, the data integrity needs to be monitored. Ascertain that everything is proceeding as expected and that all deadlines should be reached. Any issues that emerge during the migration must be informed to the stakeholders.
- Finalizing phase: Ensure the completeness, correctness, and security of all the data after migration. It is crucial to compare the transformed data with the original data in the legacy system. A process known as “Data reconciliation” can be used for such a critical task. It can be done using automated tools, manual checks, or a mix of the two.
Why Data Modernization
- Enhance the data quality: Unstructured data, also known as bad data, can have problems with uniformity, accuracy, sufficiency, or even duplication of information. It might be inaccurate and even worse than a company with no data. An organization can improve operations, create growth strategies, and make important financial decisions with the help of good data. Organizations strive to understand their consumers in the current competitive environment and make better financial, marketing, and development decision based on actual data to gain more ROI. Modern data platforms offer improved data quality controls and enable businesses to fix errors quickly.
- Data uniformity:Build confidence in the data by consolidating it all across your organization. You can create scalable and flexible systems that lower costs and increase margins by bringing data uniformity.
- Data continuity: Shared data, apps, and technologies in data modernization streamline the processes. You can have a trustworthy ecosystem of data and insights for your company by developing a common language around data.
- Decision-making: People can make choices more quickly and accurately when they can access data in real-time. Data modernization enables you to give access in a way that supports data democratization, allowing users to work together, come up with new ideas, and share their knowledge in a self-service analytics environment.
- Security and compliance: Compliance and data protection are essential for any organization handling sensitive data. Encryption, access controls, and data masking are just a few of the improved security features offered by modern data platforms to guard against data breaches and unauthorized access. Additionally, they provide built-in compliance features that guarantee organizations adhere to legal requirements.
How does MSRcosmos help in data modernization?
At MSRcosmos, we offer data modernization solutions that are designed to improve your data accuracy, speed, and security. Our data experts work with you to spot areas for improvement in your existing data systems. Whether you’re dealing with outdated legacy systems or siloed data, we have the right expertise to help you modernize your infrastructure and create a seamless, integrated data environment.
Using our flagship data technology partners, industry-leading tools, and techniques, we ensure your data modernization initiatives are launched on time and within budget. Additionally, we offer ongoing support and maintenance to ensure that your data infrastructure remains up-to-date and efficient.
Data is the lifeblood of your business. Don’t let outdated data systems hold you back any longer. The digital world demands data modernization practices to shine your business. With data modernization, you can enjoy benefits like faster data access, increased data security, and improved data accuracy. Make better decisions based on real-time data insights and improve your overall business operations.