March 17, 2023
7 Benefits of a Modern Data Platform
Planning for a Modern Data Platform (MDP) is on many wishlists for 2023 – and for a good reason. Here's a quick rundown of an MDP and what you can expect to gain by building one.
Data siloes, poor reporting and unwieldy spreadsheets are common indicators that your organisation may be ready to implement a modern data platform (you can find out more about this in our blog 3 signs it's time for a modern data platform).
What is a Modern Data Platform?
An MDP is a complete, streamlined, and scalable system for managing and analysing large amounts of your data.
It typically includes the following components:
A centralised storage for structured and unstructured data, such as relational databases, Data Lakes, Data Warehouses and Data Lakehouses.
Tools and technologies for processing and transforming data, such as data ingestion, data wrangling, and batch and real-time processing.
Tools and dashboards for visualising data, enabling your users to gain insights and make informed decisions.
Features for data management, such as data security, data privacy, data quality, metadata management, and data lineage.
Often includes tools for building and deploying machine learning models, allowing your organisation to optimise the value of your data.
Tools for collaboration and information sharing, making it easier for teams to work together and make data-driven decisions.
The rise of MDP’s in 2023
Conversations around MDP’s are becoming more frequent as organisations see the value they add.
It really is the solution to the common data challenges we often see today (does siloed data and poor transparency across your organisation sound familiar?).
Here are some of the key benefits:
1. Improved data access
Centralised data storage and processing, make it easier for you to access the data you need, when you need it.
2. Increased efficiency
Data-related tasks are automated, freeing up time and resources for more value-added activities.
3. Better data quality
Data governance and quality management tools ensure that data is accurate, consistent, and trustworthy.
4. Enhanced decision-making
Powerful visualisation and analytics tools, help you make more informed decisions based on data insights.
5. Increased agility
Quickly respond to changing business needs, by providing flexible and scalable data processing and storage capabilities.
6. Enhanced security
Advanced security features, such as data masking, data encryption and access control, ensure that data is protected against unauthorised access and theft.
7. Improved collaboration
Tools for collaboration and information sharing make it easier for teams to work together and make data-driven decisions.
If you’re looking for a flexible and scalable foundation for managing and leveraging your data, an MDP is a good option to investigate. Check out our Modern Data Platform ‘Let’s Assess’ – in just a few days, you’ll be able to see how an MDP can work for your organisation.
Perhaps you’re not ready to commit to an MDP (smaller businesses often fit into this category). That’s ok too. It’s easy to gain value in increments. By slowly moving off manual processes, we can help build up your internal capability slowly. It’s so easy to get started and see immediate benefits! All it takes is a friendly conversation with us.