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Data Ecosystem

What is a data ecosystem? 

A data ecosystem refers to a combination of enterprise infrastructure and applications that is utilized to aggregate and analyze information. It enables organizations to better understand their customers and craft superior marketing, pricing and operations strategies. 

A modern big data ecosystem, sometimes referred to as a “technology stack,” contains three fundamental elements: a responsive data architecture, delivery at scale and AI-driven intelligent data management.

What are the business benefits of a modern data ecosystem?

A cloud-first, AI-driven modern data ecosystem enables an organization to generate maximum business value from its unique data assets. Among the specific business benefits of data ecosystems are:

  • Higher returns. Businesses can generate higher returns with more effective monetization of data and by unlocking value in legacy data stores. 
  • Cost savings. Organizations can reduce capital expenses and contain data warehouse costs by transitioning to the cloud—rationalizing and simplifying the data landscape.
  • Speed to market and to value. Faster insights through AI-enabled data engineering can reduce time to market.
  • Customer engagement. With a modern data ecosystem, businesses can better understand customer and market behavior and use it to enhance their product or service offerings to better meet changing consumer needs and preferences.
  • Process improvement. Analyzing big data sets in a modern data ecosystem can optimize and improve internal operations, such as supply chain management and inventory management.

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