The key question is: Why is valuable data lurking in the shadows? Often the applications that curated lurking data drive operations, logistics, production planning, compliance, or business relationships. After its immediate use, it may have been too costly, too time-consuming, or too compute-intensive to exploit further. Older data may seem like nothing more than an expense in the form of storage and archive costs. Why not find value yield from this expensive asset?
Convert an ugly duckling lurking in dark corners to a swan (returns generated across future periods.)
Here are three approaches to driving value from Data lurking in storage:
Exploit new capabilities to distribute data to more uses to get more value
Analyze lurking data assets with cheap compute power in ways the originators on “if only we had the computer power to…”
Using new storage technologies to exploit lurking data via newer data organizing and reporting tools that make amazing results possible
For our next post, we’ll look at examples of each of these activities that produce value from old investment at small costs.
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