Data as an Asset is a State of Business

By now, all business leaders understand the power of data and know that data volumes are rapidly growing. The issue isn’t if data is valuable. The sticking point is how to best capture all relevant data and optimize it across the entire organization.

data as an asset for future forward enterprises

The ability to analyze all data at scale is what separates organizations that are traditional, best-in-class, or enterprises of the future. Many companies are striving to be best-in-class when they should be aiming to be a future enterprise. It’s the difference between having data in departmental silos, integrating key data within an organization, or integrating all data across the company and sharing it with all users, both internally and externally.

View data as the most valuable asset

The way Teradata views data may be different from others. Some view it as a cost to be managed, which is an outdated way of thinking. By contrast, Teradata sees data as an organization’s most valuable asset—an asset to be leveraged by all users across the business to drive enterprise growth.

World-class organizations do not need to be convinced that they need to be data driven. They already know this. But many continue to struggle to get the most value from that asset. That’s because data is still restricted in departmental silos, not integrated with other data, or not easily accessible to all users.

In today’s world, data must be seen as a key strategic asset that organizations need to simply and securely share with lines of business, customers, and partners. ​When data is seen as the organization’s greatest asset and placed at the center of the business to drive every decision, every pivot, and every move, then it unlocks unlimited value.

The role of data for enterprises of the future

As noted in a blog “Is Data Really an Asset?” the role of data has changed significantly over the years for large businesses. In 1997, just one of the top 10 companies ranked by market value was considered a “data company.” It was Microsoft. Today, Apple, Amazon, Facebook, and other “data companies” dominate the top spots.

These companies know there is tremendous value in being able to leverage a single source of truth to collaborate and discover new insights. Creating this single source requires having all data integrated on a single platform that’s accessible by all users. The right platform lets organizations realize the benefit of enabling any user to ask any question of any data at any time.

The enterprise of the future is built on data, according to a whitepaper that notes, “Organizations must use data as an asset to see, understand, and plan not only for what’s happening now, but what will happen next. Business leaders and companies that recognize this critical success factor and choose to embrace it gain a huge competitive advantage, especially in times when innovation is critical to future success.”

Some enterprises are already gaining this competitive advantage. They are the organizations that shifted from a siloed, proprietary, and retrospective approach that restricts data to a single user or department to a reusable approach that stores data once but uses it many times.

Scale at a level not possible until now

To analyze the massive amounts of data that are available today, organizations must practice data orchestration at hyperscale, which means unifying all data and making 100% of that data available for analytics. The enterprise of the future optimizes the cloud, hyperscalability, and analytics on all available data.

For example, telcos of the future will process trillions of interactions per month and more than 100 million queries per day. They will get maximum insights from their data that will allow, for example, the telco to deliver a personized offer to a single individual.

Not only does Teradata take the unique approach that data is an organization’s greatest asset, it also takes a unique approach to turning data into unlimited business value. Teradata Vantage™ is the connected multi-cloud data platform for enterprise analytics from start to scale.

The modern platform enables data to be connected across multiple platforms, including data warehouses, data lakes, and native object stores, as well as across multiple cloud and on-premises environments. As a result, even the largest companies in the world with the largest, most complex data sets can integrate and analyze them at scale for new insights.