Data ecosystem

<h5>What is a data ecosystem?</h5> <p>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.&nbsp;</p> <p>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.</p> <h5>What are the business benefits of a modern data ecosystem?</h5> <p>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:</p> <ul> <li><b>Higher returns.</b> Businesses can generate higher returns with more effective monetization of data and by unlocking value in legacy data stores.&nbsp;</li> <li><b>Cost savings.</b> Organizations can reduce capital expenses and contain data warehouse costs by transitioning to the cloud—rationalizing and simplifying the data landscape.</li> <li><b>Speed to market and to value.</b> Faster insights through AI-enabled data engineering can reduce time to market.</li> <li><b>Customer engagement.</b>&nbsp;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.</li> <li><b>Process improvement.</b> Analyzing big data sets in a modern data ecosystem can optimize and improve internal operations, such as supply chain management and inventory management.</li> </ul>

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