Data virtualization: It’s one of those buzzwords business owners hear, but may not understand its benefits. What data virtualization does is allow applications to access and manipulate raw data without knowing its exact format or where it comes from.
Because the data is still intact, it can be used without concern of corrupting the data, but still allows for real-time manipulation and use. There are many reasons to do this, and it makes sense especially if the business doesn’t need to utilize all the data or does not need to store it.
Being able to access data in real time is a real bonus for today’s businesses. Because markets and industries change rapidly, market-driven businesses can make changes as required. No longer do businesses have to wait to make changes since the software does not limit the format or the source of the data. This makes companies more agile within the marketplace.
Diminish Risks and Uncertainty
By accessing up-to-date data, often in real time, businesses can reduce inaccuracies and obsolete data. Because data virtualization software works on role-based and centralized accessibility, security features can help stop data access violations. This helps eliminate inaccurate reporting and reduces the possibility for fines and/or penalties.
Allows Users the Ability to Detect Problems
For business owners and employees, data virtualization can be invaluable as it helps detect problems as they occur. Because the data is in real time, a problem can be recognized and resolved quickly. Virtualization provides the ability to analyze the data to determine why the problem is happening.
It can also point to solutions. Employees have access to real-time data, so that they can make changes promptly and see if the changes impact the data. If that doesn’t work, they can quickly restore to a baseline and try something else in real time. The ability to test new solutions, while still being able to return to a working baseline, empowers employees to make agile decisions that can help to recognize, fix, and prevent problems.
Access More Data
Data virtualization does not require data in particular formats, nor does it require data from certain sources. This means business owners can access data from various sources and correlate it. By recognizing and comparing trends within the data, the business can make more educated decisions. The business is also not limited to one source of data. Instead, the company can gather all the required data needed for employees to do their jobs properly.
Allows Businesses to Make the Right Decisions
Data virtualization empowers companies to make the right decisions when it comes to acting on data. Old data is frequently inaccurate and can cause companies to respond incorrectly. This can cause a loss in revenue and waste valuable time. Data virtualization allows for and can combine multiple sources of data, establishing a broader picture for the business. This broader picture helps executives make better decisions. In this way, data virtualization can produce benefits for any business.