With the amount of businesses vying for customers today, the need to gain a competitive edge through unlocking insights from data has become paramount. However, as the amount of data in your organization grows, it can become increasingly difficult to manage and store. This is especially true for businesses that utilize point-to-point integration, which creates a complex ecosystem of stored information. The result is spaghetti architecture — a tangled web of systems with interwoven connections that are difficult to maintain and scale efficiently. With the utilization of a data hub, your business will gain a competitive advantage by enabling you to capture analytics and data insights, achieve better collaboration across teams, and sharpen decision-making abilities by collecting and utilizing data effectively.
A data hub is considered the single point of access or center of an organization's data. It is where your company's various data sets are stored in a homogenous format with no duplicates. It includes de-duplicated and standardized data from different sources that have been cleansed and enriched with value-adds such as standard definitions and consistent nomenclature.
The following are three advantages of implementing a data hub.
If you have a substantial amount of data that needs sorting, cleaning, and understanding, the global data hub provides a one-stop solution or what is frequently known as a single source of truth to store and understand all metadata.
A data hub can simplify the governance process because the data is centered at a single location to create a single source of truth and enables data and information sharing by providing a means for collaboration between data producers and consumers.
Data hubs are created in two ways:
The Amundsen data hub is an open-source data discovery and metadata engine that should be used as the base layer. It helps you search for specific information with a simple text search and a page rank in the search engine that can provide fast results based on table names, table descriptions, and data tags. The use of metadata can help data analysts, data scientists, and engineers extract useful information from their data. This application provides a metadata-driven structure to enhance productivity that can build trust in your data by providing:
Data hubs are easily scalable and follow a forward-looking push-based architecture, which means that the metadata is constantly changing, as opposed to a pull-based architecture, which only crawls a data source.
Companies' most significant challenge when creating a global data hub is the complexity of building and maintaining it. It's not enough to have the right technology; you need to make sure that all your processes are working together seamlessly. Listed below are critical dependencies businesses must consider:
Nisum can help you incorporate a global data hub and overcome critical dependencies in your business practice. By working with us, your business will have access to the data it needs to take advantage of a market opportunity or better plan for the future. Once implemented, you can sit back and enjoy the fruits of productivity and decision-making. We are a flexible and holistic partner that provides clients with an accelerated competitive edge by delivering more innovative insights at scale. Contact us to learn more about our services.