Operational Data Store and Business Intelligence | Business Intelligence has always depended on relevant data to make sound time-sensitive decisions that impact the organization’s profitability. The collection of data is not much of a problem but sorting takes a bit more than what meets the eye.
Subsequently, there are a lot of data structure models being used by different solutions providers and organizations to improve their Business Intelligence systems. One such example of sophisticated developments in the data processing field is the implementation of Operational Data Store (ODS) systems. Here is how ODS systems are benefiting organizations by improving Business Intelligence.
Improving Business Analytics
Managing and scaling a business has now heavily relied on data analytics that helps with timing, targeting, and even promotions of products or services. The abundance of this data has made it very easy and practical to collect and analyze it. Additionally, using an operational data store can help organizations process all the gathered data for a lean analysis. Simply put, ODS systems simplify the data processing phase by feeding analytical tools information that is currently operational then.
Subsequently, processing data is much quicker and leads to more precise and focused analysis reports. Eliminating other archived data in the analysis also improves accuracy on the findings of that respective report being generated. These reports can then be archived in a data warehouse for future reference and the data used will be removed from the ODS system.
Providing real-time Business Intelligence
Gaining access to relevant Business Intelligence can be challenging because a large data repository can provide outdated insights. When making decisions regarding the operation of the business, it is preferred to have updated and relevant data. Using an ODS system promotes this because it uses data that is currently in use instead of bringing old records. Despite improved accuracy, using operational data also makes the process of data processing and analytics quicker.
Business Intelligence tools can output real-time data visualizations helping guide important data-based decisions within the organization. Using ODS systems can be regarded as an effort to make full use of lean data technology to provide effective and precise solutions to problems whereas, using a larger repository would lead to a generalized solution that is not as effective as utilizing strictly operational data.
Organization-wide operational reports
Each department formulates quarterly, bi-annual and annual reports, and large companies with a lot of departments could find it hard to process all of these. The key decision-makers might even resort to having department heads present the most relevant points in an annual meeting due to lacking time to read all department reports. However, department heads could be biased and sometimes even hide some findings that were documented on the report.
Relying on BI tools that help visualize data can help guide objective business decisions and responses. That is one of the many great benefits of technology in business and pairing BI tools to visualize organization-wide operational reports can be optimized by ODS systems. One main benefit of using ODS-powered databases on relevant BI tools is aggregating organization-wide data to a brief and unbiased consolidated report.
Reduced complexity of data collected
Regardless of your intention for collecting data, be it marketing, improving business operations, or designing new user products, a complex data structure can impede the objective. Having complex data structures can obscure the real problem that needs to be solved at that particular time. Undoubtedly, in some cases, you might need historical data to validate current and operational insights but mixing them in one database could be ineffective.
Using an ODS to reduce the complexity of the data by having operational insights stored here and keeping the archived data in a warehouse can help meet your objectives. In cases where you only need the operational data, it will be much easier to gain access to it. Accessing operational data in an ODS does not have the complexities of additional archived data being stored in the same store.
Minimizing the impact of cyberattacks
Huge data lakes that are stored for long periods are cybercriminal attack magnets. Cybercriminals like to attack huge data repositories for social engineering and other direct cyberattacks. That makes storing a lot of data equivalent to putting a target on your back for cybercriminals. To minimize the impact of cyberattacks that could impair your BI data, you can use ODS.
Operational Data Stores do not retain all of the insights that have been processed through it. Instead, this database model removes any outdated information that is technically regarded as inoperational. That reduces the risk and the impact of cyberattacks which could be targeted for your company. Even if a cyberattack is successful, the data loss is minimal, which just puts a small dent in your business intelligence avenues.
Standardizing data for users
Organizations that have developed web and native apps or other forms of software also use data in servicing their customers. Using data in this instance generally requires a 2-way transmission thereof and an ODS system can help facilitate this effectively. By standardizing operational data on an ODS system, quicker access can be granted to users. Also, the organization will not require elaborate data retention policies since it does not get stored unless it is archived in a separate database system.
The overall result of standardizing data in this manner is an improved user experience because of reducing the waiting time and access to relevant details. Additionally, users can have the privilege of not having their data stored because it gets removed from the ODS system. Users will then have the option to choose if they agree with their data being stored in a separate warehouse.
The bottom line
Operational Data Stores are a highly effective way to keep Business Intelligence relevant and most beneficial to the organization. In addition, it helps aggregate organization-wide reports to one consolidated one when paired with the right BI tool. Another underrated benefit of ODS systems is minimizing cyberattack risk and reducing the impact of a successful attack on your system.