Your Future Depends on Building Data Ecosystems
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The second pillar for the Data Innovation needed to support Advantage 2.0 is the creation of use-case specific Data Ecosystems.
A use-case specific Data Ecosystem is not a vast ‘data lake’ of raw data nor a data warehouse optimized for business analytics. Although it may pull data from both these data entities. Instead, it is a custom-built data schema created specifically to support the use case.
It is also vital that the Data Ecosystem schema is flexible so that it can be adapted to changes in the real-world data.
This means Data Innovation can’t be a generic application solution but must be a use-case specific data solution. And the result is an application experience that only you own because it is architected around a Data Ecosystem that you design and create to support a specific use-case.
It is taking ownership of this Data Ecosystem and applying an intelligent data strategy to it that is the foundation of Data Innovation and delivery of Advantage 2.0.