What is a Data Platform?
A data platform is an integrated technology solution that allows data located in database(s) to be governed, accessed, and delivered to users, data applications, or other technologies for strategic business purposes.
Benefits of Data Platforms
The benefits of data platforms include their abilities to give users a cohesive view of data from multiple sources, make data available throughout an enterprise to those with proper permissions, and improve data governance.
A data platform connected directly to a database ensures eligible employees within an enterprise have access to the right data at the right time, without delays in processing a volume of data or data requests.
A data platform can allow businesses to manage their data governance strategy better. This can include what data is collected, who can access it, and when data has ‘expired’ according to data protection and privacy regulations, such as GDPR.
A best-in-class data platform delivers a single point of access via modern authentication tools, such as SSO, to ensure authorization for your users. In this way, you can easily keep track of who can access data via the platform.
A data platform can include scheduling dashboards, reports, and proactive alerts for pre-determined conditions. This functionality helps eliminate bottlenecks and deliver reliable and accurate data to authorized users at the moment of relevance.
APIs deliver data to other tools for specialized or advanced forms of analysis, such as data science and AI/ML workflows. APIs also allow embedding of dashboards and KPIs into other tools, such as Salesforce.
A data platform accessing centralized data in a single database — or multiple databases — can bring together data from multiple sources, bridging organizational silos for more collaborative and effective decision-making.
Because your entire enterprise can connect to and share cross-departmental data, you’ll benefit from advanced types of analysis to understand key business metrics like Customer Acquisition Cost, Lifetime Value, Click-to-Purchase Rate, and more.
A data platform can simplify vendor governance by eliminating redundant solutions needed for supplier management, strategic sourcing, document tracking, and performance metrics administration.