Data Management in a Highly Connected World.
A secure and trustworthy solution for the next generation of data-driven Intra & cross-company collaboration.
Data is essentially becoming the backbone of our digital society and is turning into more of a central component rather than a byproduct of data-based products and services. In this context, digitalization is also changing how people and organizations act and interact. It is the result, but also the enabler, of related developments such as globalization, the Internet of Things and platform & data economy. Taken together, these have the fundamental potential to revolutionize and transform entire industries, sectors and global value chains that are no longer manageable with conventional management approaches and organizational principles.
In particular, companies can no longer be seen as self-contained entities. They work in a global business network with many different parties on joint projects and products. The evolution of the global supply chain networks has led to the creation of a network that is more connected, intelligent, responsive, and predictive than ever before. In such times, the secret to success or failure lies not only within efficient and trustful collaboration with partners but also effective coordination between them as it has become imperative in today’s business models. When it comes to collaboration an important part lies within how organizations manage, access, extract and share relevant data with all the involved parties, regardless of them being a part of the same organization and structure or not.
There are a lot of benefits coming with good-quality data, such as better decision making, increased productivity, better compliance, and of course more accurate targeting and communication in marketing and customer relationship management. It all has a tremendous impact on the collaboration of individuals and organizations and will help to bring it to the next level. Opening your siloed entities to enhance cooperation with external parties and share necessary data can no longer be an exemption but is the inevitable consequence of the development mentioned above.
This development is currently reflected in the recently announced cooperation initiatives between the two automotive giants, Daimler and BMW. Following the merger of the car-sharing services car2go and DriveNow at the beginning of this year, as per the media reports, the two manufacturers are now planning the establishment of a joint platform for future vehicle models and cooperation for autonomous driving.
“The biggest sources of opportunity are collaboration and partnership. And today, with digital communication, there is more of that everywhere. We need to expose ourselves to that as a matter of doing business.”
Due to these characteristics, challenges, and the exponentially growing amount of data in organizations, it is becoming more and more obvious that new digital solutions for data management, data exchange, and enterprise process management are desperately needed. A critical element is how the data and the available data holding systems are integrated and made accessible for employees, external partners along with data-processing applications. This is not just of special interest only for greatly integrated supply chains but also for organizations themselves, due to the strong organizational and complex systemic barriers.
“Without data, you are just another person with an opinion.”
Nowadays, data is often compared with oil and gold, but its true value lies in providing new insights preparing the company to plan for what the future holds. In order to enable this, the necessary data has to be available and managed properly. There are a lot of benefits coming with good-quality data, such as better decision making, increased productivity, better compliance and of course more accurate targeting and communication in marketing and customer relationship management.
“The goal is to turn data into information, and information into insight.”
To solve the indicated challenges, problems and make data available by breaking down organizational and systemic islands, most solution providers depend on migrating the required data from an arbitrary number of different sources to a central data warehouse, data lakes, or, in a cross-organizational case, cloud-based community-collaboration tools. With this option, it is very difficult to ensure that the data clones are always up to date and the latest data is accessed. But firstly, it means giving up control and sovereignty of your own data and its value.
Cesonia is employing a different approach by connecting organizations and their individual IT-systems or data sources through a decentralized network and a virtual data layer using the Data Virtualization technology. The Cesonia platform neither moves the data from its original source nor duplicates it in any manner performing all the heavy lifting in a Virtual Data Layer. This results in providing a secure and trustworthy solution for the next generation of data-driven cross-company collaboration without compromising on security and control.
Thank you for reading and don’t miss out on the next blog about Why Data Virtualization is the Answer?
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