Tag: Data Management

Companies are dealing with overwhelming amounts of data, and this data must be governed, compliant, and secure, especially when working in the financial, healthcare, and insurance sectors. As the complexity of data environments increases, traditional data governance approaches largely fail to address these challenges adequately and lead to the emergence of what many researchers refer to as Data Governance 2.0. undefined Laying its foundation is the metadata-driven data fabric, which represents a highly transformative approach to data management and governance, compliance, and security.

Expanding on the concept of data fabric architecture and elements, this article focuses specifically on the use of metadata layers to improve governance and compliance for businesses operating in highly regulated environments.

In this blog, we will also discuss the concepts, opportunities, and risks of constructing a metadata-driven data fabric to enhance compliance and security.

The Evolution of Data Governance: From 1.0 to 2.0

Data Governance 1.0: Legacy Governance Models

The conventional view of the data governance process was mainly concerned with data adequacy, control, compliance, and the ability to store data securely in isolated databases. This was primarily a rule-governed and manual approach. The governance policies we had were far from dynamic and flexible to adapt to the evolving needs of the current organizations.

Legacy systems in Data Governance 1.0 face several limitations:

Manual processes: Some of the measures of security are checked manually, and this leads to slow processes and errors because it is done by human beings.

Siloed data: Data resides in multiple systems and silos, which causes issues with governance alignment.

Static policies: Governance rules do not adapt to the emergence of new data scenarios and the constantly evolving compliance requirements.

Why Data Governance 2.0?

The data environment has changed, and it is now imperative for organisations to sort data through hybrid and multi-cloud solutions, and address increasing concerns of compliance and security. This phenomenon is has therefore resulted to what is now known as Data Governance 2. 0, a governance model designed for the modern data ecosystem, characterized by:

Real-time governance: Managing a multilayered set of governance policies for both cloud and on-premises & hybrid solutions.

Data integration: Integration management of distributed data and assets with out leaving their original location.

Proactive compliance: Engaging metadata and AI to enforce compliance in a dynamic manner.

To Know More, Read Full Article @ https://ai-techpark.com/how-metadata-driven-data-fabric-ensures-compliance-and-security/

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In an era where data is heralded as the new oil, there’s an inconvenient truth that many organizations are just beginning to confront: it is therefore important to realize that not all data is equal. With the increasing digitalization of the economy and an imperative to increasingly rely on data in products and services, the focus has been traditionally on the sheer amount of data that can be gathered to feed analytics, provide clients with personalized experiences, and inform strategic actions. However, without this policy to embrace data quality and data lineage, even the strenuous data collection would result in disastrous results.

Let us take an example of a general merchandising retailer chain that, to sustain and overcome its competitors, started a large-scale acquisition-based customer loyalty campaign with help of their gigantic data warehouse. High expectations of the initiative and great investment to make it work reached a deadlock when the issue was revealed: the data behind the plan was unreliable. The promotions of the retailer were wrong since the wrong customers were being targeted, and this eroded the trust of the customers.

This is not an unusual case. In fact, all these issues will sound very familiar in most organizations, yet often with no realization regarding potential hidden costs in the form of poor data quality and a lack of understanding in terms of data lineage. If data is to become a true strategic resource, then organizations have got to go beyond what appears to be mere numbers and down traceability of data. Only then can they establish the much-needed trust in today’s world to answer the diversified needs of the customers and the regulating bodies.

The Hidden Truth About Data: It’s Only as Good as Its Quality

The question is: Who would not want to work with data? The truth is that data is full of errors, inconsistencies, and inaccuracies. Data quality is an issue that ultimately touches upon the decision-making process, organizational compliance, and customer trust.  Let’s consider the following:

For instance, consider a marketing team working on creating a marketing campaign that was based on customer information that might have been entered incorrectly or not updated for several years. The result? Incorrect targeting, resource expenditure, and perhaps the antagonizing of clients. It therefore underlines the significance of sound data—a factor that is relevant both in making decisions and in customer relations.

Key Elements of Data Quality:

Accuracy: The data used should be accurate and depict the true worth and facts.

Completeness: All necessary data should be included without any gaps, i.e., all important data must be there with no breaks in between.

Consistency: Data should not only be uniform with all the systems and reports of the company, but also the format used should be uniform.

Timeliness: Data should be in real-time, and this data should be accessible whenever it is required.

Validity: The attributes should be of the right format and within the right range.

To Know More, Read Full Article @ https://ai-techpark.com/data-quality-and-data-lineage-elevate-trust-and-reliability/

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Data lineage tools are sophisticated software designed for complete data management within the organizational context. These tools’ primary role is to systematically record and illustrate the course of data elements from their source through various stages of processing and modification, ultimately reaching the pinnacle in their consumption or storage. They can help your organization to understand and manage data. However, currently, you will find a lot of data lineage tool alternatives out there, but no worries, as AITech Park has narrowed down the best option for your company that will help you this year.

Collibra

Collibra is a complete data governance platform that incorporates data lineage tracking, data cataloging, and other features to assist organizations in managing and using their data assets more effectively. The platform features a user-friendly interface that can be easily integrated into other data tools, aiding data professionals to describe the structure of data from various sources and formats. Collibra provides companies with a free trial, but the pricing depends on the needs of your company.

Gudu SQLFlow

Gudu SQLFlow is one of the best data lineage analysis tools. It interprets SQL script files, obtains data lineage, conducts visual display, and permits users to provide data lineage in CSV format and conduct visual display. SQLFlow delivers a visual representation of the overall flow of data across databases, ETL, business intelligence, cloud, and Hadoop environments by parsing SQL scripts and stored procedures. Gudu SQLFlow offers a few pricing options for data lineage visualization, including a basic account, a premium account ($49 per month), and an on-premise version ($500 per month).

Alation

The third one on our list is Alation, which is a data catalog that helps data professionals find, understand, and govern all enterprise data in a single. The tool uses ML to index and make new data sources such as relational databases, cloud data lakes, and file systems. With Alation, data can easily be democratized, which gives quick access alongside metadata to guide compliant, intelligent data usage with vital context. However, the plan and pricing are not revealed by Alation, as it depends on the needs of your company.

Choosing the correct data lineage tool requires assessing all factors that are well aligned with your company’s data management objectives. Therefore, before opting for any tool from the above list, consider taking data from diverse sources, formats, and complexity and creating a data governance framework, policies, and roles that eventually help in making informed decisions.

To Know More, Read Full Article @ https://ai-techpark.com/5-best-data-lineage-tools-2024/

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As organizations continue doubling their reliance on data, the question of having credible data becomes more and more important. However, with the increase in volume and variety of the data, high quality and keeping track of where the data is coming from and how it is being transformed become essential for building credibility with the data. This blog is about data quality and data lineage and how both concepts contribute to the creation of a rock-solid foundation of trust and reliability in any organization.

The Importance of Data Quality

Assurance of data quality is the foundation of any data-oriented approach. Advanced information’reflects realities of the environment accurately, comprehensively, and without contradiction and delays.’ It makes it possible for decisions that are made on the basis of this data to be accurate and reliable. However, the use of inaccurate data leads to mistakes, unwise decisions to be made, and also demoralization of stakeholders.

Accuracy:

Accuracy, as pertains to data definition, means the extent to which the data measured is actually representative of the entities that it describes or the conditions it quantifies. Accuracy in numbers reduces the margin of error in the results of analysis and conclusions made.

Completeness:

Accurate data provides all important information requisite in order to arrive at the right decisions. Missing information can leave one uninformed, thus leading to the wrong conclusions.

Consistency:

It makes data consistent within the different systems and databases within an organization. Conflicting information is always confusing and may not allow an accurate assessment of a given situation to be made.

Timeliness:

Data is real-time; hence, decisions made reflect on the current position of the firm and the changes that are occurring within it.

When data is being treated as an important company asset, it becomes crucial to maintain the quality of the data and to know its origin in order to build its credibility. Companies that follow data quality and lineage will be in a better position to take the right decisions, follow the rules and regulations set for them, and be in a better position compared to their competitors. If adopted in their data management process, these practices can help organizations realize the full value of their data, encompassing certainty and dependability central to organizational success.

To Know More, Read Full Article @ https://ai-techpark.com/data-quality-and-data-lineage/

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Explore how Lakehouse Architecture has evolved, merging the best of data lakes and warehouses into one game-changing solution!

It must be noted that the existence of lakehouse architectures has brought some substantial changes in the data architecture landscape. In this evolution process, organizations are still struggling on how to handle complex and diverse data management, to which the answer is the lakehouse model. Lakehouses can be viewed as a better integration of data lakes and data warehouses to provide improved data management systems. This blog post delves into the further evolution of lakehouse architecture and explains its main concepts, recent developments, and transformation of today’s data management.

Historical context and core principles

Before understanding the progression of architectural styles of the lakehouse, it is crucial to look at the basic components of the concept. Earlier, companies used data warehouses for structured data processing and analysis. Data warehouses offered strong and well-developed SQLQuery, transactional, and near real-time query processing for complicated queries. However, it became a drawback when attempting to work with different and more complex types of data that are incompatible with the one-dimensional, rigid structure of a regular list.

On the other hand, data lakes are a concept that appeared as a result of these limitations, allowing managing raw and unstructured information in a big data environment. Data lakes allowed for accepting and storing data in various formats from different sources; however, they did not offer the usage of atomicity, consistency, isolation, and durability (ACID) transactions and performance improvements typical for data warehouses.

Consequently, the architecture of the lakehouse strived to combine these two paradigms into an integrated system that would represent the advantages of both. To summarize, lakehouses are the next step in data organization with their combination of data lake scalability and flexibility and data warehouse performance and control.

Key Advancements in Lakehouse Architecture

Unified Storage and Compute Layer:

The lakehouse architecture brings in a simplified storage and compute layer in their architectural design, thus minimizing the level of complexity. This layer enables organizations to archive data while fulfilling many types of data processing duties, from batch to real-time. The decoupling of compute and storage resources is a great improvement in regards to scale efficiency.

The concept of lakehouse architecture is one of the most significant steps toward improving data handling processes. Lakehouses, on the other hand, offer a combined approach to data lakes and data warehouses that improves scalability, performance, and governance. When employing this innovative architecture, organizations prepare themselves to get the most out of the gathered data, to foster analysis and creativity in a world headed towards a higher dependency on data and information.

To Know More, Read Full Article @ https://ai-techpark.com/the-evolution-of-lakehouse-architecture/

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Azra AI, a healthtech leader harnessing artificial intelligence (AI) and workflow automation to accelerate the identification and treatment of cancer, today announced a strategic partnership with Registry Partners, a premier provider of healthcare data collection and registry management services. This collaboration aims to transform oncology data management and optimize Cancer Registry operations by integrating cutting-edge technology with expert human services.

The U.S. healthcare system is facing a critical shortage of Oncology Data Specialists, essential professionals responsible for abstracting, managing and interpreting complex cancer data. This shortage is creating significant challenges for oncology departments, leading to backlogs in data processing, delays in patient care, and potential risks to accreditation for many cancer programs. The collaboration between Azra AI and Registry Partners addresses this urgent issue by leveraging advanced AI technology and experienced contracting services to fill the gap, ensuring timely and accurate data management and ultimately enhancing the overall quality of cancer care.

Streamlining Oncology Data Workflows

This partnership combines Azra AI’s advanced data science models and oncology workflow automations with Registry Partners’ comprehensive registry management and consulting services. Azra AI’s technology can help to eliminate manual work for Oncology Data Specialists by capturing cancer data, aggregating that data in real-time, collecting the data in the right format, and pre-populating the required fields in the oncology data management software. Afterward, Registry Partners’ human experts can review the data inputs and ensure that the automated data is entered correctly for submission to state and federal registries.

Read Full News @ https://ai-techpark.com/azra-ai-announces-strategic-partnership-with-registry-partners/

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In the context of the increasing prominence of decisions based on big data, companies are perpetually looking for the best approaches to effectively utilize their data resources truly. Introduce the idea of Unified Data Fabric (UDF), a new and exciting proposition that provides a unified view of data and the surrounding ecosystem. In this blog, we will uncover what UDF is, its advantages and thinking why it is set out to transform the way companies work with data.

What is Unified Data Fabric?

A Unified Data Fabric or Datalayer can be described as a highest form of data topology where different types of data are consolidated. It is an abstract view of the data accessible across all environment – on-premises, in the Cloud, on the Edge. Therefore, organizations are able to better leverage data and not micromanage the issues of integration and compatibility by abstracting over the underlying complexity through UDF.

The Need for UDF in Modern Enterprises

Today, elite business organizations are more involved in managing massive data from multiple fronts ranging from social media platforms to IoT, transactions, and others. Recent data management architectures have had difficulties in capturing and managing such data in terms of volume, variety, and velocity. Here’s where UDF steps in:

Seamless Integration: UDF complements the original set up by removing the barriers that create organizational and structural data separation.

Scalability: This makes it easy for UDF to expand with data as organizations carry out their activities without performance hitches.

Agility: It also enables an organization reposition itself rapidly when it comes to the data environment of an organization, hence it becomes easier to integrate new data sources or other analytical tools.

Unified Data Fabric for Seamless Data Access and Management

In the context of algorithmization of management and analytics-based decision making, more often than not, companies and enterprises are in a constant search for ways to maximize the value of their data. Introduce the idea of a Unified Data Fabric (UDF) – a relatively new idea that could help in achieving consistent and integrated data processing across various platforms. Let’s dive a bit deeper on understanding what is UDF, what it can bring to businesses, and why it will redefine data processing.

UDF is likely to be more significant as organizations proceed with the integration of advanced technology. The usefulness of being able to present and manipulate data as easily as possible will be a major force behind getting data back into dynamic uses whereby businesses can adapt to change and remain competitive in the market.

To Know More, Read Full Article @ https://ai-techpark.com/unified-data-fabric-for-data-access-and-management/

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Data veracity and quality are equally essential in the current world that is characterized by unbounded data generation and utilization. Analyzing the information being used in the operations of companies today, it is apparent that businesses have developed a high dependence on data, hence the need to make it accurate and reliable. Two ideas central to this effort are data governance and lineage. Data availability, usability, integrity, and security of data within an organization can collectively be referred to as data governance. Contrarily, lineage tracking refers to one’s ability to follow the life cycle of the data, starting from its source to the current status. Altogether, these practices are needed for a small business as well as for large and middle-scale enterprises, as they offer the base for managing the information and meeting the requirements.

Understanding Data Governance

What is data governance?

Data governance refers to the culture, norms, rules, and guidelines that govern the organization’s data resources. These are ownership of data, quality assurance, and governance, where components include obtaining commitments on ownership of data/information, defining data quality requirements, and ensuring the agreed data access and security provisions are in place. Because of this, data governance’s crucial function is in covering the regulatory requirements and sources of risk that need to be addressed so that better decisions can be made.

Benefits of Data Governance

Ensuring Data Quality and Accuracy: Enumerating best practices as well as standardizing procedures promotes the credibility, integrities, and sanity of the data.

Enhancing Decision-Making and Operational Efficiency: Optimization of workflow solutions improves with high-quality data, leading to overall effectiveness of operations.

Protecting Sensitive Information and Maintaining Privacy: Data governance is aimed at data security so that the organization complies with the data privacy laws and reduces the risks of data leakage.

Data governance and data lineage are crucial methods that add value to an organization through data accountability. This means that through the formulation of appropriate data governance frameworks, as well as timely and accurate lineage solutions, business value can be realized from data assets.

Evaluate your current data management state and think about implementing the data governance and data lineage management concepts for your organization’s profitable improvement.

Availing more details to more people in the future, the trends in data governance and lineage tracking will include AI and ML.

Thus, by optimizing such practices, it will be possible to manage the effectiveness of organizational data and use it as a lever for the company’s success.

To Know More, Read Full Article @ https://ai-techpark.com/optimizing-data-governance-and-lineage/

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Leslie, can you please introduce yourself and share your experience as a CEO and Founder at TurinTech?

As you say, I’m the CEO and co-founder at TurinTech AI. Before TurinTech came into being, I worked for a range of financial institutions, including Credit Suisse and Bank of America. I met the other co-founders of TurinTech while completing my Ph.D. in Computer Science at University College London. I have a special interest in graph theory, quantitative research, and efficient similarity search techniques.

While in our respective financial jobs, we became frustrated with the manual machine learning development and code optimization processes in place. There was a real gap in the market for something better. So, in 2018, we founded TurinTech to develop our very own AI code optimization platform.

When I became CEO, I had to carry out a lot of non-technical and non-research-based work alongside the scientific work I’m accustomed to. Much of the job comes down to managing people and expectations, meaning I have to take on a variety of different areas. For instance, as well as overseeing the research side of things, I also have to understand the different management roles, know the financials, and be across all of our clients and stakeholders.

One thing I have learned in particular as a CEO is to run the company as horizontally as possible. This means creating an environment where people feel comfortable coming to me with any concerns or recommendations they have. This is really valuable for helping to guide my decisions, as I can use all the intel I am receiving from the ground up.

To set the stage, could you provide a brief overview of what code optimization means in the context of AI and its significance in modern businesses?

Code optimization refers to the process of refining and improving the underlying source code to make AI and software systems run more efficiently and effectively. It’s a critical aspect of enhancing code performance for scalability, profitability, and sustainability.

The significance of code optimization in modern businesses cannot be overstated. As businesses increasingly rely on AI, and more recently, on compute-intensive Generative AI, for various applications — ranging from data analysis to customer service — the performance of these AI systems becomes paramount.

Code optimization directly contributes to this performance by speeding up execution time and minimizing compute costs, which are crucial for business competitiveness and innovation.

For example, recent TurinTech research found that code optimization can lead to substantial improvements in execution times for machine learning codebases — up to around 20% in some cases. This not only boosts the efficiency of AI operations but also brings considerable cost savings. In the research, optimized code in an Azure-based cloud environment resulted in about a 30% cost reduction per hour for the utilized virtual machine size.

To Know More, Read Full Interview @ https://ai-techpark.com/ai-tech-interview-with-leslie-kanthan/ 

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In the evolving landscape of data management, age-old approaches are gradually being outpaced to match the demands of modern organizations. Enter as a savior: Data Mesh, a revolutionary concept that modern organizations harness to reshape their business models and implement “data-driven decisions.” Therefore, understanding and implementing Data Mesh principles is essential for IT professionals steering this transformative journey.

At its core, data mesh is not just a technology but a strategic framework that addresses the complexities of managing data at scale, as it proposes a decentralized approach where ownership and responsibility for data are distributed across numerous domains.

This shift enables each domain or department to manage data pipelines, maintain and develop new data models, and perform analytics across all interconnected integrations to facilitate infrastructure and tools that empower domain teams to manage their data assets independently.

At the core of the data mesh architecture lies a robust domain team that is the powerhouse behind the creation, delivery, and management of data products. This team comprises professionals with domain-specific knowledge who will epitomize the decentralized nature of data mesh to foster greater ownership, accountability, and agility within the organization.

This AITech Park article will explore how to build a data mesh team by outlining roles and responsibilities to drive success in an organization.

Data Product Owner (DPO)

The DPO, or Data Product Manager, is an emerging role in the field of data science that manages the roadmap, attributes, and importance of the data products within their domain. The DPO understands the use cases in their domain to serve as per UX and gets acquainted with the unbounded nature of data use cases to create combinations with other data in numerous forms, some of which are unforeseen.

Data Governance Board

After infrastructure, the data governance board is a critical part of the data mesh as they oversee the enforcement of data governance policies and standards across data domains. The board represents data product managers, platform engineers, security, legal, and compliance experts, along with other relevant stakeholders, who will tackle data governance-related problems and make decisions across the various domains within the business.

Building and maintaining a data mesh team needs careful planning, strategies, and commitments to develop talents across all boards. Therefore, organizations must adopt a hybrid organizational structure so that they can establish roles and responsibilities that help drive innovation, agility, and value creation in the digital age.

To Know More, Read Full Article @ https://ai-techpark.com/data-mesh-team/ 

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