The future of decision-making is augmented intelligence, in which the power of artificial intelligence (AI) is combined with human judgment. Machine intelligence is built on a foundation of data. Organizations will struggle to teach machines to produce intelligent and trustworthy insights and recommendations without a robust data foundation as part of a holistic data approach. But, first and foremost, what is a data foundation? What can you do with it? Which basic best practices can assist you in establishing one?
Using cloud serverless architecture, unlimited scalability, and distributed power of storage and execution to construct and manage a data foundation, it is feasible to handle data across many places and formats. Industry and process knowledge are required to build a data foundation that processes information from both public and private sources. Furthermore, automated data governance and orchestration capabilities keep data accessible and secure..
Build your modern data foundation
Humans, edge, IoT devices, and machines generate 2.5 quintillion bytes of data per day. In the future, the volume of data and the velocity at which it accumulates will only increase. Companies that use data to generate value through data-driven decision-making set themselves apart.
As per a report by a leading consulting firm,
The value of data is determined by its accessibility and applicability. Only on the cloud can data achieve size, agility, and the capacity to drive reinvention, allowing businesses to fly. Migration is only the beginning. Companies should upgrade their data infrastructure so that their employees can work with data and cloud innovation at their fingertips.
Becoming data-driven starts by getting your house in order. To benefit from data, you’ll need a strong data foundation. Our data and analytics services typically focus on three areas:
- Understanding the data you have and the data you need to develop or acquire – and what you need to create a solid foundation and drive data based insights.
- Organizing that data. After you understand and procure the right data, you need to streamline, organize and integrate it – which typically involves data in the cloud, data lakes, and other emerging data storage and integration technologies.
- Building trust in the data. It needs to be transparent and secure, with good data governance, data quality and data cleansing processes in place.
Derive insights from your data
The overarching goal with data is to be able to extract information from it that can be used to make better decisions. Working with a variety of providers and vendors is frequent in the pharmaceutical industry. Gathering and interpreting data from many data sources can be time-consuming
Wrangling data from various internal and external sources into an uniform and compatible format is the most time-consuming part of the process. Using an integrated platform to build infrastructure helps organize, standardize, and route data to the right places in an organization’s system.
Benefits of Data foundation
More precise, higher-quality data aids in the discovery of new development prospects and improves well location and other data-critical decisions for a better drilling outcome, potentially saving tens of millions of dollars by preventing well failure. By exploiting the cloud’s “elastic” computational capabilities, which respond to operational requirements, the scalability of the cloud’s storage capacity supports massive amounts of data while also cutting costs.
Data can only grow in size, agility, and the power to drive reinvention on the cloud, allowing businesses to take off. Migration is only the beginning. The accessibility and usefulness of data determine its worth. Companies should upgrade their data infrastructure so that their employees can work with data and cloud innovation at their fingertips.
With Pluto7’s Data foundation for AI you can build your data foundation easily and in compliance with your current framework.
Know more about our Data foundation for AI
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