Data Platform solutions are widely used within the largest and most complex businesses in the world. In challenging times, good decision-making becomes critical. The best decisions are made when all the relevant data available is taken into consideration. Through a set of defined frameworks, EIQ2 provides the solution to answer critical questions by turning data from operational systems into a format that is current, actionable, and easy to understand.
Data Platform solutions provide information that is decision ready. It allows the analysis of current and long-term trends, instant alerts to opportunities and problems, and provides continuous feedback on the effectiveness of decisions been made. Having immediate access to current, actionable information, can make a huge difference. Executives cannot afford to make decisions based on financial statements that compare last month’s results to a budget created up to a year ago. They need information that helps them quickly answer the basic questions:
The concept of a Data Platform solution is deceptively simple, wherein sourced data is periodically taken from applications that support business processes, and copied onto a dedicated server. There, it can be validated, reformatted, reorganized, summarized, restructured, and supplemented with data from other sources. The resulting data then becomes the authority of information to a BI tool for report generation, analysis, and presentation.
Building Data Platform solutions used to be difficult, as sourced data can be stored in various formats, possibly via relational databases or flat, excel or xml files where no referential integrity rules exist. Gathering data from several disparate data sources and into a common format can be a huge task, one that can take weeks or months to develop. With 70% of a Data Platform solution cost generally attributable to the design and development of the ETL, it is imperative that decisions made over its architecture, be an informed one. For example;
The EIQ2 Data Platform solution brings together and enables users to work off a “single version of the truth”. The result is that organisations no longer spin their wheels collecting data or arguing about whose data is correct, but use the enriched information as a key process enabler and a competitive weapon. Yet knowing all this, why do so many Data Platform solutions fail to succeed? An interesting yet baffling question: Despite most organisations possessing the tools, methods and skills to deliver, many see them as risky, expensive and very likely not to succeed. It is often said; “that the best way to learn is from your mistakes”, but mistakes made in Data Platform solutions, tend to be very expensive and possibly career-killers. So how does EIQ2 overcome this?
EIQ2 provides ease-of-use and intuitive, user-friendly processes that speed up deployment, minimize the impact of system changes and mitigate risk. In addition to understanding these risks and possible causes for failure, EIQ2 is structured with scalability and while adhering to best practices, provides the following: