In an age where data assumes paramount significance, it is widely recognized that data-driven organizations maintain a competitive edge. A noteworthy 90% of enterprises admit they have data initiatives planned for 2023, according to research from Tamr, Inc.
This statistic underscores the growing importance of data in modern business operations. To keep up with the rapid growth of digitalization, large corporations actively seek innovative technological solutions to harness the full potential of their data. One such solution making waves in the corporate world is the data development platform.
What is a Data Development Platform?
A data development platform (DDP) provides an integrated collection of data and app infrastructure building blocks. It allows development teams to swiftly deploy customized architectures that are tailored to their needs. Data development platforms are essentially the backbone of data-driven operations. They help streamline collecting, processing, analyzing, and utilizing data to make informed decisions.
Why the Need for Data Development Platforms
With the exponential augmentation in the volume of data, maintaining precise and valuable data has turned out to be challenging. For large companies, every bit of data is a valuable asset with the potential to provide rich insights and power critical decisions across various business spectrums. All this becomes possible with the help of a data development platform. Here are key areas where it proves helpful:
1. Reduced Costs: As the platform minimizes the efforts required to manually process data, often with the help of automation, it saves time and money. Enterprises can leverage it to streamline data transformation and reduce operational costs.
2. Better, Faster Insights: Collected data can be updated periodically, and with comprehensive metadata, teams can analyze crucial points quickly. This means the data can be used in a fraction of the time, and an entire project can be completed rapidly.
3. Improved Governance: Data governance is necessary to ensure the highest level of data protection. A data development platform helps manage data access rights and reduces the possibility of security exposures.
4. Accelerated Innovation: Data development platforms allow companies to experiment by reducing the time and effort required for data-related projects. Teams can test and develop new products and services and adapt to changing market conditions more swiftly.
The Impact on Large Corporations: Use Cases
Data development platforms and other platform-as-a-service solutions (PaaS) continue to help transform various industries. Below are just a few examples of large corporations using DDPs: Forbes notes PaaS’s relevance in the telecommunications sector, citing how companies like AT&T and Vodafone have accelerated the deployment of their new services by building on PaaS.
Engineering and technology enterprise Bosch—particularly its division Bosch Digital—has developed a fully managed cloud service that collects, processes, and analyzes Internet-of-Things (IoT) data. This was possible through MongoDB, a popular data development platform. Since the service can handle vast amounts of data and present a unified view of different data sources, the company is able to do live analysis efficiently.
Airbase, a procure-to-pay solution, is another app powered by PaaS. During Airbase’s beginnings, the team only consisted of three members. Hence, its founder wanted a low-effort solution in addressing infrastructure concerns. To this day, the company continues to grow its business on a development data platform.
With the help of a data development platform, corporations have the opportunity to make the most of their data. It combines all the tools required to optimize the data collected while ensuring enhanced security and improved governance. Overall, organizations investing in a data development model are well-positioned to gain a competitive edge and unlock immense value from their data.
It has been a long time since I joined Research Snipers. Though I have been working as a part-time tech-news writer, it feels good to be part of the team. Besides that, I am building a finance-based blog, working as a freelance content writer/blogger, and a video editor.