Just as a business must be effective in monitoring and managing finances, it also needs data intelligence capabilities to monitor and manage its data assets. Data intelligence, describes discovering, understanding, and governing data so that the business gets the maximum value in its investment of data with the minimum risk. This can also mean a technological platform empowering companies to capitalize on their data assets.
Data Intelligence competencies cover:
Through data intelligence advantages, companies know what data they have, how this data moves through the enterprise, and how data may change from one place to another. This understanding is essential to making future business decisions, securing data, providing better products and maintaining legal compliance. Data intelligence powers explain why Alibaba, Tencent, Amazon, Google, and Facebook have amassed so much value so quickly.
Other Definitions of Data Intelligence Include:
- “A key enabler of enterprise information and knowledge management that provides business users with the ability to effectively locate, understand and mange information assets” supporting daily IT and Business Operations. (ASG)
- Using data more intelligently to serve a purpose. ( TechRepublic)
- A response to the Fourth Industrial Revolution, where user demands, change rates and data volume are increasing at an exponential rate. (Amber Lee Dennis)
- A means of understanding what the data is, where it is going and making sure a proper configuration, sharing and exposure controls. (TechRepublic)
- “The ability to understand your company’s internal metrics.”( Inc.)
Data Intelligence Use Case Examples Include:
- Launching a successful product marketing campaign
- Deciding where Starbucks stores should be located
- Comparing good borrowers to bad ones
- Providing information on industrial equipment, including productivity and preventative maintenance
Businesses Need Data Intelligence to:
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