Affine’s Analytics Engineering Practices is kicking off a new series on “All that you need to know about Modern Data Platform.” Read the second part of the series here. You can also read part one of the series here.
What are Legacy Systems? Does your business have one?
Legacy systems comprise ETL systems, data warehouses, and other traditional software/hardware data architectures. Organizations retain legacy systems if it is expensive to transition to modern data platforms because of data migration or if the legacy system is critical to the business.
Why organizations need to adopt Modern Data Platform?
Investments in modern data platforms can transform business practices in the long term. The following are four fundamental reasons; why an organization should adopt powerful modern data platforms.
Modern Data Platforms — 4 Potential Reasons Why They Are Revolutionary?
1. Enhancing data discovery efforts
A robust modern data platform can synthesize different data types. It can parse through structured or unstructured data in the cloud or organize it according to user requirements.
Legacy systems are less effective in handling advanced data discovery and processing. They store data in isolated silos that neither the system nor a user can reconcile. This flaw makes legacy systems less efficient since the user will have to manually manage or organize the data with other tools and then process it. Only after they complete these steps can they obtain insights from the data.
On the other hand, a modern data platform will jump right to the last step to generate insights for business.
2. Promoting Data Democratization throughout the organization
The idea behind data democratization is to enable the business user a smoother way to access staged data so businesses can leverage data to transform the workflow by unleashing the value of information locked up in the data store. A modern data platform facilitates effective data democratization while making accessibility easier to empower users to obtain the relevant data points and insights independently and quickly.
A transparent process and platform to access data enable domain experts such as data scientists to skip logistical hoops and effortlessly home in on the data points they need. Thus, it might not be the case for legacy systems, which often have redundant interim steps, such as report request processes.
3. Prioritizing data safety and privacy
Modern data platforms are equipped with multiple layers of security to prevent data breaches. Most organizations follow the regulations such as CCPA, HIPAA, FCRA, FERPA, GLBA, ECPA, COPPA, and VPPA. These data protection laws provide governing frameworks for data usage, storage, and deletion, which are easier to process in modern data platforms to ensure data security and privacy.
Most businesses that use legacy systems find it difficult to implement the regulations required to meet security and privacy standards.
4. Ensuring self-service of data
A streamlined modern data platform smoothly enables self-service of data to your internal customers. It is well equipped to identify various data points and efficiently cater to internal customers’ requirements. Thus, a modern data platform reduces the complexity and allows users to access the data swiftly when they need it most. Legacy systems lack self-service, and all data requirements must be routed through IT and data teams.
How to overcome legacy systems confrontations, and where should you invest?
Legacy systems are in rapid decline. Organizations are choosing to store a significant chunk of their data on modern data platforms to optimize their data processes and decision-making. Modern data architectures need to keep up with the rapidly growing data-driven needs of businesses. As a result, modern data platforms have emerged as the most efficient solutions and promise to take the business world by storm.
However, before making a significant financial investment in the space of Modern Data Platforms, organizations must find a suitable, competent technology partner to partner with them on this journey. An expert like Affine’ s Analytics Engineering practices can make this transition seamless and effective. Are you ready to begin your journey to true data centricity? We are here to help. Schedule a call today!
This blog is the second episode that signifies “All You Need to Know About Modern Data Platforms.” In the next episode, we’ll compare traditional vs. cloud hosted data platforms to determine which would be better for your business.