3 Essential Questions for Adopting Modern Data and Analytics Capabilities like Gen AI

Future proof your business with advanced analytics powered by AWS.

Aug. 28, 2023 | By Srinivasan Swaminatha

Strong data-to-insight capabilities lead quality decision-making across your business, giving you a competitive advantage. But where do you start? It can be overwhelming when siloed business units aren’t thinking about data architecture when making technology decisions. Not to mention the increased demand for a 360-degree view of your customer all while seeking to improve business operations, optimize costs and maintain security.

A cloud-based, modern data platform powered by AWS can get you to the insights that drive real business value—making the most of your data strategy and reinvigorating your business. Ask yourself these questions to evaluate your current data platform and future-proof for what’s next.

Have you performed a holistic data strategy to identify the “true value” and “unrealized potential” to convert your data into an asset?

A modern data platform is an integrated set of technologies and services designed to support the collection, processing, analysis and management of large and complex data sets. How would you describe your data platform? Many organizations face inaccuracy and data silos when in reality, you want to create unified, curated data sets from disparate sources that are universally available across teams—with the right governance in place. If you experience limited storage and processing power, on-demand storage and compute resources linearly scaled in a modern data platform can help you overcome capacity bottlenecks.

These are just some considerations as you work toward that customer 360-degree view. You want to aggregate and analyze customer data from multiple sources to gain a holistic understanding of individual preferences, behaviors and needs. And you need to do it all—fast. You want to ingest, process and analyze data in real time, enabling business units to make data-driven decisions and respond quickly to changing market conditions. With the utilization of evolving trends and the power of generative AI large language models, your pathway to converting your data into an asset is well on its way.

How are you evaluating onboarding, governance and consumption of these data assets?

Let’s dive a little deeper into your data platform. Are you experiencing technology restraints and/or architectural limitations? Consistent ingestion patterns allow for universally available data sets, and a flexible framework can ingest structured and unstructured real-time data from multiple sources. What about data agility? A scaled architecture affords freedom to experiment and perform ad hoc, exploratory analysis.

As an AWS Premier Tier Services Partner with the AWS Data and Analytics Competency and AWS Machine Learning Competency, we’ve helped customers evaluate their legacy data services and develop a business-focused data strategy to improve their operational efficiency, reduce costs and optimize expenditure—goals many organizations have been challenged to do in today’s economy. With a modern data platform, you can opt for a pay-as-you-go model, which allows businesses to efficiently allocate resources and decrease downtime, recovery, infrastructure and maintenance costs.

What are the guardrails you’re setting up to protect your data assets?

With great amounts of collecting data comes great responsibility. The amount of new data created, captured, replicated and consumed is expected to double by 2026, yet global cyberfraud has increased by 70% since the break of the COVID-19 pandemic.^{1, 2} This raises serious questions among business leaders not only about how to get the data but also how to protect it. When critical data becomes vulnerable to unauthorized access, breaches, loss or regulatory non-compliance, the financial and legal consequences can be severe. With an AWS modern data platform, you can avoid breach-prone environments and adhere to privacy laws and retention requirements through granular access control, built-in obfuscation of sensitive data and more.

Don’t have a data strategy?

If all this talk of modern data platform has you second-guessing your overall data strategy, you’re not alone. Before evaluating your data platform, take a step back and ask yourself:

• What is your data strategy?
• What key insights are you looking for?
• Are your leaders pushing for innovations like generative AI and hyperautomation?
• If yes, what are the top business problems they’re looking to solve with AI and machine learning?

We want to answer these questions and more in our upcoming webinar series, “Your Data Journey: Gen AI and Beyond.” Learn how your data strategy and platform can create an opportunity for next level innovation. Click here for registration information.

Deliver results with a modern data platform.

A modern data platform can be the key to accelerating technology ROI and delivering results across your enterprise. Consider your current data platform, its onboarding, consumption and security—and don’t forget your overall data strategy. Create that customer 360-degree view and position your organization to take advantage of modern analytics.

Sources

1. With Great Data Comes Great Responsibility, Forbes.
2. New Data Shows FTC Received 2.8 Million Fraud Reports from Consumers in 2021, Federal Trade Commission.