Data is in overdrive, and almost spiralling out of control. According to IDC, 90% of the world’s data was created in the last two years. With the exponential growth of IoT and connected devices, the world is soon likely to create more data than can be managed.
Most organizations are right now able to analyze and make sense of only 12% of the data they hold. This is serious! The US for example, according to Gartner, loses $3.1 trillion to bad data, every year. These worrying statistics have thus shown that having mere access to data has quickly run out being the competitive edge in the business world. Making sense of the data is proving to be the differentiator that organizations want to look out for.
One of the greatest emerging ways to manage the data in a way that it makes the data useful is Data Curation. Organizations looking out to excel in data curation from smart data curation platforms like DQLabs will quickly seize the competitive advantage and race ahead of their counterparts.
This article explains what is data curation and why your organization needs it.
So, what is data curation?
Data Curation can be defined in different ways. Roughly put, data curation entails managing an organization’s data all through its lifecycle.
The best definition, however, is that data curation is the process used to gather, maintain, and manage data in its repositories so that it becomes useful to its end users. The main goal of data curation is making data easily retrievable for future use.
Why data curation?
Data curation comes with a variety of implications for the entire data industry. Data curation serves various functions for different data stakeholders. The benefits of smart data curation include;
It acts as a bridge
Data curation acts as a bridge between software engineers, data analysts, and data scientists. These are the stakeholders who deal with data in different ways. Data curation helps them work seamlessly thus realising results in a very efficient way. It facilitates the process in which data is collected and managed by an organization to be processed and handled by each of these stakeholders.
There is an increased emphasis on organizations to leverage the powers of data curation, for, without it, it is unimaginable how they would access, process and make sense of the amounts of data they are set to handle in the near future.
With the size of data the world currently has, it is difficult to process the large piles of unstructured data and organize it to make sense out of it.
Data Curation comes in to help organize the data systematically so that data analysts and data scientists can access for onward processing in a format most suitable to them.
Enhancing data quality
Previously, having mere access to data was considered an advantage. This, however, is no longer the case. Quick, and efficient access to useful data, in the midst of large piles of data is the most important way to ensure data analysts and scientists use their valuable time to work on it, rather than retrieving it.
Data curation ensures that you are left with only the data that is useful. This way, data quality is taken care of and data analysts and scientists will have no problems trusting the data that they are presented with for processing.
What is the future of data curation?
Organizations and businesses continue to work and understand the concept of big data. Data has proven how important it is in opening up previously unknown fronts in the running of organizations and the achievement of results.
As data continues to pile, organizations and businesses will increasingly invest in data curation for better processing and analysis to improve operations and drive better results.
Data curation will soon become the distinguishing feature between organizations and businesses. Those that will effectively harness the power of data curation, are set to become the most successful and will leap ahead of their counterparts in the market.
Due to big data, the value of data has now proved to lie in how well it is curated. Many valuable datasets are unfortunately poorly curated, contributing to errors and a hard time retrieving useful data for processing by data analysts and scientists.
Data curation is valuable for every organization and business. Capitalizing on data curation will make organizations crystallize the stockpiles of data and see its worth. Leveraging ML-based data curation tools like DQLabs ensures that a business is powered by clean, useful data to make it gain a competitive advantage and take a lead position in the market.