The power of data lineage

BrandPost By Milan Shetti, CEO Rocket Software   
Aug 07, 20234 mins
Data Management

Modern data intelligence tools hold the key for businesses looking to make the most of their internal data.

Credit: iSotck/PeopleImages

The most powerful asset a business can have is its data. From financial statements to trade secrets to customer information, when used right, data can be used to make more informed and effective business decisions. Modern data intelligence tools are critical for businesses to get the most from their data. These tools can help maintain data integrity, security, and compliance, enabling a business to make quicker decisions to keep pace with market demand.

Rocket Software recently unveiled Rocket® Data Intelligence, a self-service data platform built on automation that spans cloud, distributed, and mainframe infrastructure – an industry first. I sat down with Chris Wey, president, data modernization at Rocket Software, for a conversation around the importance of democratized and reliable data and what users can expect from modern data intelligence tools.

Why is reliable data so critical to the success of a business?

Businesses can reap so many benefits when they leverage their data properly. Timely, reliable data can help leaders make more informed business decisions, help identify trends and patterns within the organization, optimize operations across the business, and help a business to remain compliant.

Without reliable data – or the tools to help interpret that data – businesses face data silos and fragmentation. This can create compliance and security risks that can lead to data breaches and legal penalties, severely damaging a business’s reputation.

What are the benefits of modern data intelligence tools?

According to IDC, organizations with high levels of data intelligence outpace counterparts with low data intelligence levels in numerous ways, including a 40% boost in financial performance, a 20% increase in operations success, and a 200% surge in the rate of reported improvements in data management metrics. Those numbers alone are reason enough for businesses to leverage data intelligence solutions.

Modern data intelligence tools help businesses reap the benefits of the data they already have.

Can you talk about the benefits and features of Rocket Data Intelligence?

Rocket Data Intelligence democratizes data with an intuitive interface and clear visualizations that enables business and technical users alike to search for data insights they need to make informed decisions quickly. The solution provides the data intelligence capabilities needed to reduce conflicts in organizational data, streamline impact analyses, and validate compliance actions.

The platform can create robust plans for change, from updating data flows to managing cloud migration. It also optimizes an organization’s data footprint so it evolves based on the organization’s needs.

Why is data democratization so important?  

Data democratization is critical for organizations that want to remain competitive in today’s fast-paced, digital-first world. Data democratization allows business users at various levels of any organization to access and leverage data without depending solely on a data expert or IT team to share that data. This not only frees up the IT team to focus on other mission-critical tasks, but this empowerment means employees can make data-driven decisions quickly and efficiently.

Data democratization can help break down data siloes within an organization, allowing decision-makers to see a more holistic view of an organization’s data, enabling better-informed decisions across the board. For example, Chief Data Officers can focus on delivering the unique value that comes from exceptional data, including uncovering opportunities to optimize costs and reduce compliance exposure, or Line of Business Leaders can execute business reporting more efficiently to free up resources for garnering data insights.

Learn more about Rocket Data Intelligence.