Key-Architectural-Components-of-Data-Fabric

Switching to a Data Fabric Architecture for Quicker Data-Driven Decisions

by with No Comment Business

As businesses evolve in the era of hyper-automation and distributed environments, faster data-driven decisions are critical to digital transformation by including digital processes into all interactions and transactions across an organization. Data Fabric is the way to automate data management to enable faster decisions by data sharing, optimizing data integration and data preparation to improve productivity in cost effective manner. Whether you are automating front- and back-office processes, analyzing customer sentiments, digitizing product catalogs, or creating hyper-personalized email campaigns across multi-cloud and hybrid environments, enabling timely access to trusted data for all data consumers is critical.

Unified, consistent, and timely data delivery to business, data, and analytics stakeholders becomes challenging with increasing data volumes and sources. In addition, the data and ecosystem landscape is constantly changing, with new data sources and formats. Increasingly complex security and compliance requirements makes it even more difficult.

Traditional monolithic data architectures are unable to scale or take a long time to address such challenges. Instead, you need a holistic approach to automated data management architecture framework.

Data Fabric Architecture and Its Benefits

Gartner® defines “data fabric as a design concept that serves as an integrated layer (fabric) of data and connecting processes. A data fabric utilizes continuous analytics over existing, discoverable, and inferenced metadata assets to support the design, deployment and utilization of integrated and reusable data across all environments, including hybrid and multi-cloud platforms.1“

A data fabric integrated layer connecting any data across multi-cloud, hybrid environments, means data consumers can easily access data in timely manner.

A data fabric accelerates self-service data discovery and analytics by making trusted data accessible faster to all data consumers and automating data engineering tasks, automating data governance and workflow orchestration, automates linking discovered data assets.

At the same time, a data fabric helps you avoid challenges that come with traditional data management such as data dependency, which leads to higher latency. It takes significant time and effort to clean and rerun any failure during data processing.

A data fabric helps in digital transformation by enabling data-driven decision-making through AI/ML augmentation and automation across all use cases.

Transforming from Traditional Data Architecture into Data Fabric Architecture

To make faster data-driven business decisions, organizations should transform traditional data architecture into data fabric architecture. Data fabric architecture brings forth new ways to develop data pipelines. Data scientists can focus on building data insights faster using AI/ML models.

A data fabric architecture supports data delivery for all data integration patterns, self-service data preparation, and enterprise data orchestration for all styles of data delivery.

A data fabric architecture enables data fabric design through AI-powered metadata intelligence and automation using AI and machine-learning engine, which supports:

  • Any pattern: Multi-latency, cloud-native data delivery for all data integration patterns at enterprise scale
  • Any user: Self-service, governed data preparation at enterprise scale
  • Any data: Enterprise orchestration for all styles of data delivery and data and analytics use cases

Data Fabric architecture by:

  1. Comprehensive metadata connectivity for all enterprise data connecting to any source through 50,000+ metadata-aware connectors and scanners
  2. Enterprise knowledge graph puts data in context by linking and enriching semantic metadata to deliver intelligence to data management functions like data cataloging, data governance, data integration, data quality and master data management
  3. The embedded AI/ML engine enables automation with recommendations and insights, allowing you to scale your data management to meet your business needs
  4. Enterprise data preparation enables you to simplify and speed up data preparation with advanced ML-based automation and data cataloging
  5. Enterprise orchestration and operationalization enables automatic data delivery flows in support of continuous analysis and monitoring 

Getting Started With a Data Fabric Architecture

Data fabric is an enterprise-wide initiative. Close collaboration between IT and business leaders is critical to manage the evolving data and business landscape.

Moving to a data fabric architecture may seem simple, but it can become complex due to siloed organization structure and operational challenges. Before shifting to data fabric, consider these key questions:

  1. How to get necessary organizational support for a cohesive data strategy?
  2. Did we define data interoperability across various systems?
  3. Are there regulatory compliance requirements that may affect the data fabric journey?
  4. How can I use the embedded AI/ML engine to automate thousands of manual tasks and augment human activity?

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Digital Transformation Outlook and Predictions for 2022

by with No Comment Business

What does the future hold for digital transformations? There’s no easy way to predict what’s on the horizon for 2022, but in the most recent episode of Transform It Forward, my fellow panelists and I gave it our best shot.

In a special panel episode, I sat down with my colleagues Vince Padua, EVP, Chief Innovation and Technology Officer at Axway and Brian Pagano, Chief Catalyst, VP of Catalysts at Axway, to discuss our key predictions in technology, AI, finance and more for the year ahead. 

We touched on everything from cloud technology to APIs, offering our thoughts on what the next few months could have in store. As expected, the episode resulted in some pretty fascinating insights that give us a glimpse into the near and distant future of tech.

Rapid Acceleration of Growth Across Industries

If 2021 proved anything, it’s that the rate of change is accelerating more quickly than ever before. This means that the stakes are much higher than in previous years, and there’s a lot riding on this year’s innovations.

Enterprises today are looking to maximize overall business outcomes and productivity on a global scale. Automation is playing an increasingly central role in business practices everywhere. 

One of the key predictions we touched on during the panel was the acceleration of AI and machine learning (ML) across industries.

“Certainly when we talked to customers, almost all of them are piloting or are in production with some form of artificial intelligence and machine learning technology. We all certainly leverage it in our day-to-day lives. But I think some of that spending is shifting from the traditional ways in which software and technology has been put into the emerging patterns and maybe what are to be the new platforms for the next decade, which will include things like AI and ML,” —Vince Padua.

The Experience Era

One of the key words of 2022 and beyond will be “experience.” Businesses are placing a strong emphasis on the experience of their customers, but also the experiences of their own internal teams, in order to maximize outputs.

Brian noted that in 2022, businesses of all industries would be wise to invest their dollars into the overall experience of both customers and employees. He commented that this strong focus on employee experience and engagement will ultimately help to take us from the great resignation to the great retention. 

As we forge ahead in this fast-paced era of growth and innovation, talent retention, culture building and upskilling will be essential.

The API Economy Will Continue Its Rapid Growth

When it comes to assisting with the adoption of new technologies and increasing productivity, APIs will continue to play a critical role. While APIs aren’t new, we’re still only seeing the tip of the iceberg in terms of the power they can help us unlock across industries.

However, companies will need to become laser focused on their value-add and increasing productivity. Simple, intuitive design will be key for APIs in 2022.

“It’s kind of a lingua franca that doesn’t depend on a particular technology or a particular programming language or the experience of a particular development team at a third-party developer. As long as you’ve designed it right with really, really good design for consumability, then yes, APIs are basically your open for business sign.” —Brian Pagano.

Living In The Cloud

In addition to APIs, the cloud will continue to play an essential role in the tech world this year and beyond. While it can be challenging to implement new technologies like the cloud, it’s a non-negotiable for enterprises who are hoping to stay competitive in 2022.

“Cloud is absolutely critical. It is a real headache. It is a new muscle memory that has to be learned for companies. But it’s just a supporting technology here so that you can produce and provide a good experience.” —Brian Pagano.

Moving to a multi-cloud, hybrid ecosystem will continue to be the next natural step for most businesses in the near future. Although the cloud is certainly nothing new, many companies are still late to the game in fully adopting this technology.

The Human Factor

Overall, one of the main focuses for the business world in 2022 will be reconnecting with the human element. The customer experience has shifted massively and quickly over the past two years as buyers adjusted to a virtual-first world. Now, businesses are working hard to find their footing and communicate effectively with the people they serve.

“How to communicate, how to provide better experiences, how to compete against entities that look different than the entities you’re used to competing against. To me, that’s kind of the big story of 2022.” —Brian Pagano.

Key Takeaways:

It was great chatting with Vince and Brian about what’s on the horizon for 2022. Here are some of the key insights that stood out to me from the episode:

  1. If there’s one thing we’ve learned from the past couple of years, it’s that change is the only constant. The rate of change has been accelerating recently, so in 2022, we can expect to see more major revolutions happening across industries. The stakes are higher than ever before, so staying agile and adaptable to change will be crucial, no matter your role, function or industry.
  2. Although our reach is broader than ever before in history, productivity has been declining steadily in recent years. In the future, AI, machine learning and automation will continue to play an increasingly crucial role in our society. As a result, we will continue to see companies investing in automation to replace or augment low-level tasks in 2022.
  3. One of the key words of 2022 will be “experience.” Due to the rapid pace of the digital evolution, enterprises of all shapes and sizes are struggling to attract and retain skilled talent. With the great resignation of 2020, and soon the great retirement, companies are increasingly focused on retaining talent by prioritizing the overall employee experience. 
  4. The API economy will continue its rapid growth in 2022. However, the challenge will be designing APIs in a consumer-friendly format that people can understand. Staying nimble enough to change along with the disruptions that will inevitably hit us in the future will be key. For CIOs, it will be important to consider the business focus and the function first, especially when it comes to APIs.
  5. Our digital lives today are completely intertwined with AI. In 2022, we will continue to see more investment in the application of machine learning to augment B2B interactions such as processing invoices, predicting inventory needs, and more. Although the complexity of the B2B ecosystem has made this shift more complicated, the great reset brought on by the pandemic has resulted in more investment into this area.

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Cloud Computing: A Small Business Guide

by BusinessUncategorized

Broadband internet access and the ubiquity of mobile devices makes cloud computing a viable option for small businesses everywhere.
Cloud computing is a more modern approach to handling long-running business needs.
Broadband internet and smart mobile technology have made cloud computing possible.
There are numerous ways that cloud computing benefits small businesses. It stores and backs up company data, it runs software applications, and it streamlines how information is shared.

What is cloud computing?
In today’s ever-changing business climate, small business owners must get what they need right when they need it, whether they’re on their computers, tablets, or mobile phones – or in the office, out in the field, or on the road. Cloud computing gives users access to data wherever they have an internet connection.

Key takeaway: Cloud computing is a digital service that allows users to access important programs and data stored on a remote server anywhere they have an internet connection.

What is cloud computing used for?

Cloud computing is an umbrella term for different types of cloud services, including:

  • Cloud storage: These services store and back up your files for regular access. Files can also be shared and synced across devices. 
  • Cloud backup: While cloud storage and cloud backup may seem synonymous, cloud backup is designed to serve as a failsafe solution if your company experiences a server crash, cyberattack or other data loss. [See our guide on the best cloud storage or backup service for small businesses.]
  • Software as a service (SaaS): SaaS solutions use the web to provide a service. Examples of SaaS application include Office 365, Google Apps, QuickBooks Online and Salesforce. SaaS solutions may also be called platform as a service. 
  • Cloud hosting: These solutions facilitate multiple types of information sharing, such as email services, application hosting, web-based phone systems and data storage.

Key takeaway: A cloud solution can handle numerous business-related tasks, including web hosting and file storage.

What are the benefits of cloud computing?

Cloud computing saves businesses time and money by boosting productivity, improving collaboration, and promoting innovation. Here are five additional benefits small and midsize businesses can realize from cloud computing solutions:

Extremely accessible data

Businesses use cloud computing to access information anywhere with any compatible device. Rather than storing information on your computer or a server in your office, cloud computing stores data on the internet. Information is available from a central web-based hub that gives anyone with proper credentials access from any location with an internet connection.

Maintains consistency between users

When multiple workers are working on the same digital file, it’s easy for mistakes to happen. Since cloud-hosted files exist in the same central location, data is automatically synced between all devices, which means people are using the most up-to-date version of files.

Allows for remote programs

Businesses rely on software that isn’t commonly used at home. Since specialized software is often installed on company computers in the office, cloud computing allows users to access all types of files and applications as though they were in the office. By removing the barrier of entry for employees to use the programs they’re comfortable with, regardless of where they are physically, cloud computing brings the office to the kitchen table.

Easy data backup

Catastrophic data loss can happen at any time. Whether that loss occurs from natural disasters, power surges, or hardware failure, affected companies are at increased risk of bankruptcy within the same year as the data loss. And while most companies have adopted backup plans, it helps to have additional contingencies in place. By utilizing the cloud to store important data, business owners can rest easy knowing that important files are safe even if hardware fails.

Cost-efficient

Buying and maintaining server equipment requires time, expertise and money. Rather than building your own bespoke server, which can be prone to downtime, a cloud computing provider stores data for you without all the downsides. Prices for business-oriented cloud services are still a monthly expense, but it’s a manageable and predictable expense in many aspects.

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Digital Commerce in a Big Market – Small Business Guide

by Business

Things to Think About When Choosing an Ecommerce Platform for Your emerging Small Business. The majority of small businesses do not have infinite resources to invest on a website. As a result, the cost & ease of use will be a crucial factor to consider an ecommerce platform.

From DIY templates to agreements with significant industry players, ecommerce platforms come in different shapes and sizes. Keep in mind that what works for one brand may not work for another, so consider these criteria while weighing the benefits and drawbacks of each.

Technology, Price, cost, and additional fees are all factors to consider.

Operating an ecommerce business isn’t a one-size-fits-all proposition; it’s a broad category of ecommerce software that comes in a variety of flavors. Take your time to research the available possibilities before jumping in head first.

There are different types of ecommerce solutions, mainly:

Open Source.

The term “open source” refers to the freely published and accessible source code that is used to organize a website. Example of some of the most reliable open-source platform are WooCommerce, PrestaShop, Magento etc. Open-source code has a number of benefits, including:

There is no obligation to buy from a specific vendor.
Integration with existing systems is simple.
Customizable platforms are available.


However, open source isn’t without flaws, and the disadvantages may be enough to drive some people away. Open-source systems necessitate more security interventions and may incur additional expenditures, such as the involvement of a special IT team.

SaaS (Software-as-a-Service).

Software-as-a-Service, also known as SaaS, is frequently mistaken with cloud software. SaaS solutions, like cloud software, are housed on a server that is managed by someone other than your company, but there are some key differences.

Although SaaS pricing varies widely, investing in a solid platform can pay off handsomely. Many ecommerce sites, fortunately, provide a free trial period, which is a terrific way for you to try out the site and learn about all of its features. Some of the popular SaaS Ecommerce platforms are Shopify, BigCommerce, Wix etc.

Things to Consider When Selecting Your Small Business Ecommerce Platform:

Technology
Price, cost, and additional fees.
Scalabilities
Flexibility

Built-in features.

Success in ecommerce comes from a lot more than simply listing your products for sale. In fact, the advanced features offered by an ecommerce site can play a big role in the results you see. 

From things like easily automated promotions and discounts to comprehensive analytics, the built-in features an ecommerce provider can offer should play a big role in the decision-making process.

Rather than relying on third-party apps to address core functionalities, BigCommerce offers native features that lower cost and complexity and help you achieve your business goals:

  • Website customization: Allow merchants to personalize the look and feel of their website to match their brand image.
  • SEO optimization: Built-in SEO features help increase organic traffic and reach more customers.
  • Payment management: With a partner network of major payment providers such as Cashfree, PayPal, Stripe and Apple Pay, gives small businesses the freedom to choose the payment gateway that works best for them.
  • Application integrations: Using platforms apps marketplace, merchants can discover custom elements and features to enhance their online presence.

Analytics.

If you’re a small business looking to make it big, you’ll need the tools to measure your customer behavior and preferences over time. Understanding what your customers are looking for is key to improving marketing initiatives and better meeting their needs.

Look for an ecommerce platform that offers built-in customer analytics tools, tracks visits and activity on your website and identifies your highest and lowest performing products. This will give you insight into what is most impacting your business and what you can do to better serve your customers.

Ease of use.

A good platform should be, above almost all else, easy to use. The more complex a site is to use, the harder it will be for you to make sure no step of your process falls by the wayside. Consider platforms that focus on these key areas of emphasis.

Set-up flow

From registering a domain name to managing payment processing, a lot goes into a new ecommerce site. A good platform will ensure you don’t miss a beat.

Centralized channel management

Managing your ecommerce site should be as easy as possible. With a way to organize and oversee all channels at one time, centralized channel management is key to staying organized.

Product and SKU management

If you have a lot of different SKUs and product categories, the last thing you want is to have to manage this by hand. Being able to upload CSV files, for example, can make inventory management very easy.

Scalability.

Most businesses have growth goals, whether in a year or a decade down the road. Regardless of how you see your business evolving, you’ll need support from your ecommerce platform as your business grows and changes. This may mean space for unlimited products, expansion capabilities overseas, more payment gateways or additional images and video content.

The Final Word

Small enterprises are extremely important.

We’ve witnessed firsthand how building an online store can alter and scale your business as a platform that works with small business owners every day.

Ecommerce is a definite method for small businesses to stand out — especially in such a crowded industry — since it provides a way to generate sales, enhance web presence, and accomplish growth goals all in one spot.

You’ll be sure to take your business to the next level if you choose a dependable platform that can meet current and future needs while focusing on the most important elements for success.

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Digital Transformation for Emerging Small Businesses

by Business

When compared to offline firms, digital SMEs can diversify consumer categories in a short amount of time and thus can gain the following :

Revenue growth
Increasing access to a larger customer base
Improving operational effectiveness
Improving the customer experience

Revenue is a company’s most crucial goal; the bigger the revenue, the faster the company will grow. Businesses have experienced a massive impact as a result of digital transformation, particularly in terms of revenue. Technology-adopting SMEs have shown to be highly profitable. It has been proven that online business earnings increased by 19% annually, whereas offline business income increased by 10%.

Larger Customer Base

A company’s market reach is limited if it just has an offline presence. Customizing technology and having an online presence allows SMEs to expand and improve their game in both domestic and international markets.

Increased digital interaction allows SMEs to expand into new markets, allowing them to compete with industry giants. E-commerce platforms break through geographical barriers by enhancing client experiences and assisting in the development of better supply chain solutions. This enables businesses to sell 24 hours a day, seven days a week, and rapidly expand their consumer base while incurring minimal operational expenditures.

Customer Engagement

By giving a deeper understanding of customers, business intelligence and data analytics have provided chances for SMEs to make better decisions. SMEs have been redesigned with next-generation customer interaction capabilities by using customer intelligence and insights to evaluate and predict consumer wants, inventing new products that match their criteria, and clever delivery of the appropriate items at the right time at a cost-effective price.

The introduction of cloud-based solutions and freemium models, in which basic software is supplied for free but functionality, virtual products, or proprietary services may be charged, has allowed SMEs to expand their capacities and improve customer experience.

Operational Efficiency

SMEs can reduce overall spending by improving operational and marketing costs thanks to digital transformation. Information and communication technology (ICT), digital integrated production planning, shop floor control, supply chain solutions, and cloud-based ERP are examples of IT-driven smart tools and approaches that have improved the operational efficiency of SMEs in the contemporary environment.

Social & Digital Marketing

Effective digital marketing strategies can assist SMEs in retaining or engaging existing and future prospects, hence improving overall business success.

Create Social Media Accounts wherever your target audience is present to advertise your business online. On LinkedIn, Facebook, or Instagram, for example.

You can also use Google Ads or Facebook Ads to market your website.

The Final Thought

You will not only become a role model, but your business will prosper if you make the proper judgments. As a result, the emphasis must be on shifting perspectives and looking beyond the slump. If need is the mother of invention, we can all agree that there has never been a better time to invent than today.