Above the Noise - Edition 14

How to Add Business Value to Your Data Foundation

Todd Nash

Todd Nash
Evolution Analytics, LLC.

Posted: May 30, 2024

As a principal at Evolution Analytics, I’ve witnessed firsthand the evolution of data management strategies and the challenges they pose to businesses. The landscape of data warehouses, data lakes, and data platforms is constantly shifting, driven by ever-changing business requirements. In the past, adapting to these changes meant a tedious cycle of updating code, retesting, and implementing new business requirements—a process that was both time-consuming and resource-intensive.

However, the landscape is shifting. Now, you can leverage lightweight applications such as Streamlit on top of your data foundation, like Snowflake. These applications allow business users to interact with and manage their data requirements directly, automating the implementation of changes without the need for recoding and retesting. This approach enables a variety of use cases, such as:

  • Match/Merge Duplicate Records: Effortlessly identify and consolidate duplicate entries to maintain data integrity. This process involves sophisticated algorithms that scan your entire dataset, detecting and merging duplicates based on configurable criteria. The result is a cleaner, more reliable set of data that reduces redundancy and enhances the accuracy of analytics and reporting.
  • Manage Customer Hierarchies: Easily adjust and align your customer data to reflect organizational structures. This feature allows you to define and manage hierarchical relationships within your customer base, enabling a clear view of parent-child linkages among corporate entities. It’s particularly useful for understanding complex business relationships and ensuring targeted marketing and sales strategies.
  • Align Customer Requirements: Ensure that customer needs are met consistently across all data points. This involves dynamically updating customer profiles with new preferences, needs, and behaviors. By integrating this data across sales, marketing, and customer service platforms, you ensure a unified approach to customer engagement, improving satisfaction and loyalty.
  • Manage Start and End Dates: Keep track of critical timelines to ensure data relevance. This tool helps you manage the lifecycle of offers, contracts, and product availability by automating the tracking of start and end dates. It prevents outdated information from affecting your operations and ensures that time-sensitive data is accurately reflected across all systems.
  • Align Financial Records to Appropriate GL Codes: Streamline the process of categorizing financial transactions for accurate reporting. This capability automates the mapping of financial entries to the correct General Ledger (GL) codes, reducing the manual labor involved in financial categorization. It ensures consistency, accuracy, and compliance in financial reporting, and speeds up the reconciliation process.

These are just a few examples among thousands of potential applications, each designed to simplify and accelerate the management of your data.

Reflecting on these developments, I’m excited about the profound impact they have on businesses. By reducing the time to market for new requirements, increasing cost efficiency, and putting the power of data management in the hands of business owners, we’re seeing a significant shift towards increased automation. This transformation not only streamlines operations but also empowers teams to focus on strategic initiatives rather than getting bogged down by the intricacies of data management.

The future of data management is here, and it’s more accessible, agile, and user-centric than ever before. At Evolution Analytics, we’re thrilled to be at the forefront of this revolution, helping businesses like yours harness the full potential of your data assets.