It’s no secret that businesses have access to more data sets from more data sources than ever before, but having something and understanding how to properly use it are two different things. That’s where data intelligence comes in.
IDC defines data intelligence as a process that “leverages business, technical, relational and operational metadata to provide transparency of data profiles, classification, quality, location, lineage and context; enabling people, processes and technology with trustworthy and reliable data.”
Data intelligence is the who, what, where, when, why, and how of your data. As IDC puts it, it’s “intelligence about the data, as informed by metadata. Data intelligence is not intelligence informed by the data.”
To take that definition a step further, data intelligence is also about empowering your employees to create enterprise value and helping them avoid the risk of abuses along the way. Because with great data comes great responsibility.
To get the most value out of your data, you need to understand and fill data intelligence gaps. When you do, data analytics enable actionable insights to create better ways to interact with partners and customers.
It’s often said that data is the new oil. But, like oil, it’s what data becomes that makes it a valuable resource.
Data mining and data science are only effective if the data they work with is trustworthy. The same goes fordata visualizations— better data is necessary for useful data analysis.
Good data management that applies governance best practices will remove data from silos, then clean and organize it to ensure it can be used to inform business decision-making. Artificial intelligence and machine learning accelerate your data insights, delivering predictive analytics to help fuel more informed decisions.
The influx of data flows led to the Big Data era. Big data analytics arose as a solution to help companies understand all that data better. Data intelligence takes the next step. It allows you to unleash data’s business value with data-driven decision-making. It’s not just about faster and more relevant insights — it’s about what you can do with them in your digital transformation to drive value.
Better business performance goes beyond data quality and data insights and gets into how to use that knowledge to generate value for partners and customers.
Improve customer experience and loyalty
If you have reliable data quality and AI-powered insights, you can pinpoint the ideal times to send a marketing email or run an ad. You can know:
This allows you to accelerate purchases and drive more revenue because customers get what they want when they need it — and they’re contacted via the method they prefer.
Customers know that companies have, and can use, more of their personal data than ever. Companies build trust and loyalty by governing and using this data responsibly. With data intelligence, you can tap into your data with a greater understanding of preferences to provide better value to your customers.
Empower more people in your organization to generate value
The ability to democratize data — to share it with more people across your organization — can help your business processes.
A high level of trust assurance in data quality and expected outcomes improves your data governance. That, in turn, can help you increase data intelligence to create business value while ensuring you remain in regulatory compliance. That means data stewards can better share trustworthy enterprise data across your company to optimize marketing, sales and other business performance.
Enable cloud benefits to increase organizational efficiency
Cloud-baseddata warehousesanddata lakescan give organizations more agility. They are flexible and scalable, so they save money. And, the cloud helps you open up more data for analysis — to drive value for your customers. But, that value goes unrealized if you can’t offer trust assurance in the data while also minimizing risk exposure.Data governance in the cloud, when hosted on trusted platforms, provides peace of mind that allows you to enable and accelerate data intelligence to maximize data insights.
Trustworthy and reliable data is essential when working with patient records — especially since protection and compliance are imperative when it comes tohealthcaredata. But, greater insights from that patient data can literally save lives. With predictive analytics, data scientists can understand potential future health problems for patients. Data intelligence can then help recommend healthy lifestyle choices, understand what prescriptions patients may need in the future and ensure drug companies are ready to produce the proper amounts of medicines 10 years down the line.
Planning for the future is essential when it comes to new schools, hospitals, law enforcement buildings, public transportation and other urban needs. As an example, the quality and reliability of census data will influence economic planning for the next decade with funding and grants, so that citizens get their fair share. Data intelligence can help convert population growth data with data intelligence about demographics and economic conditions into usefulpublic sectorpredictions to ensure city planning is backed by important metrics.
As data and automation continue to makemanufacturing more efficient, data intelligence can help you begin to see around corners. Democratized data across teams can drive insights that help supply and demand stay in sync. Data intelligence can help you predict and avoid supply chain shortage issues. You can even monitor prices in real time and adjust them based on data intelligence about consumer behavior patterns (e.g., seasonal buying or social media sentiment). In short, data intelligence can help you meet customer needs — building long-term trust and loyalty.
Data intelligence can help you increase customer trust, which is key when it comes to working with their money. Better predictions about markets help you make and track better investments for your customers. You can do that with quality data. But, in thefinancial services industry, you want data to be an asset when creating new financial products and services — not a liability. Data governance lets more people in your organization safely use data to drive value — pulling key analytics that inform business models.
See how Informatica’s data governance and privacy solutions helped these companies harnessdata intelligence.
Eli Lilly and Company
To improve its ability to fight disease and help communities,Eli Lilly and Companyneeded to remove data from silos to allow more teams access to information. By using Axon Data Governance and Informatica Data Quality, Eli Lilly and Company stayed within regulatory compliance. It also created a collaborative enterprise data marketplace to empower self-service analytics. This gave the company trustworthy data they could use to achieve revenue increases.
UK Driver and Vehicle Standards Agency (DVSA)
TheUK Department of Transport’s executive agencyneeded to standardize and automate data quality while keeping data secure and in compliance with the GDPR. With the help of Axon Data Governance and Informatica Data Quality, DVSA improved decision-making with faster delivery of higher-quality data. They also increased security and efficiency by bringing all driver and vehicle data into a single repository. All of which allowed them to build more trust and improve interaction with their citizens.
If you’re ready to get more value out of your data, tap into Informatica tools that will help deliver insights to inform better business decisions:
Axon Data Governance:InformaticaAxonhelps teams consistently unlock the potential of data. It brings data stewards together to define policies on data purpose and manage workflows by visualizing data lineage. Moreover,Axon Data Governance Marketplacehelps to democratize data across an enterprise and give quick access to data insights for data consumers that drive value creation agendas with trust.
Data Quality:Data consumers can measure, validate and rely upon data using AI-driven insights. InformaticaData Qualityensures the reliability of your data to provide confidence to decision-makers.
Enterprise Data Catalog:Understanding what data you have enables you to discover information across your global enterprise. InformaticaEnterprise Data Catalogenables metadata-driven intelligence and turns that data into new insights by understanding the context and flow of business-critical data classes.
Data Privacy Management:Tap into AI-powered data protection to increase data use transparency for personal data. EnableData Privacy Managementto report on data subject requests, prioritize and reduce data risks and increase confidence in data protection for value creation programs.
Make sure your company is prepared for the road ahead. Adopt data intelligence best practices and tools from Informatica that can help you create more value for your customers. Learn more about data intelligence and data governance — download the workbook now.