More and more sensors, technologies and machines are being used in companies, generating huge amounts of data every day along the value creation process and far beyond. This data becomes usable and valuable when it is merged, analyzed and evaluated in a meaningful way. However, companies often use individual solutions for different requirements without an overall concept for data storage and management. This results in fragmented isolated solutions in the form of data silos to which other areas of the company have no access. Not only does this result in a lot of potential being lost, it also slows down processes and inhibits the company's innovative strength.
To prevent all of this, companies need to introduce centralized data management in their operations. This requires a standardized platform on which the data is stored, linked and visualized. This enables company management to make accurate predictions as well as make processes more transparent and measurable. In addition, processes can be optimized, innovative strength increased and time and budget saved. With CANCOM Data Management, you can introduce centralized data management in your company - and thus fully identify and exploit business potential.
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The 3 concepts for centralized data management
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In order to manage data uniformly, companies need to consider three concepts that differ in terms of function and area of application: the data warehouse, the data lake and the data hub. While the data warehouse and data lake focus more on collecting and analyzing data, the data hub primarily serves as a mediation and data exchange point.
DATA WAREHOUSE
Business Intelligence
The data warehouse is a central repository for integrated and structured data from two or more different sources. This system is mainly used for reporting and data analysis and is considered a core component of business intelligence applications. Data warehouses implement predefined and repeatable analysis patterns that are distributed to a large number of users in the company.
DATA HUB
Data exchange and data governance
Data hubs serve as a point of contact for core data within a company. They centralize application-relevant company data and enable seamless data exchange between different endpoints. At the same time, they are the main source of trusted data when it comes to data governance initiatives. Data hubs provide master data for enterprise applications and processes. They are also used to connect business applications with analytics structures such as data warehouses and data lakes.
DATA LAKE
Advanced Analysis
The data lake is a repository of all structured and unstructured company data. It hosts unrefined data with limited quality assurance and requires the consumer to process and manually enhance the data. Data lakes create the foundation for data preparation, reporting, visualization, analytics and machine learning.