Functional Data Analysis is based on having the right data available to the right people when it matters most. For example, a marketing department might need to be able to correlate marketing spend with company revenue or a sales team might need to accurately predict their future earnings.
Unfortunately, not all data platforms lead to functional data analysis. In fact, most of them rely on heavy ETL process and too-technical development skills. This leads to limited value for a select few and what can be termed a data bottleneck.
Another type of data analysis is called data chaos and it too has its problems. In this scenario data exists everywhere and easy-to-use data visualization software permeates the company. The problem is that the analysis is rarely complete and often contradictory. This is not a functional data analysis scenario.
The best of both worlds is a centralized data store with consistent business logic and a data exploration environment that is friendly for users.
Watch the video to learn about today's tools that truly enable functional data analysis company wide.