Explainer: Building High Performing Data Product Platform
Data is everything, and enterprises are pushing the limits to capture, manage, and utilize it optimally. However, given the monumental rise of Web3, companies may not be able to sustain themselves with conventional data management techniques. Instead, they are inclined toward futuristic analytics and need a stronger architecture to manage their data products. As per Forbes, in 2019, 95% of organizations were not managing their unstructured data and ultimately lost out on valuable opportunities.Â
As we know, a “data product” is an engineered, reusable data asset with a targeted purpose. A data product platform integrates with multiple source systems, processes data, and makes it instantly available to all stakeholders.Â
Building a high-performing data product needs a strategy and clarity of the essential functionalities. Here’s a quick overview.Â
- End-to-end product monitoring: Total visibility about the performance of the data product, its utility, and ability to start/pause/stop data flow.Â
- Product cataloging: Enable users to build relationships between data products, the sources, and the end users, all represented in a knowledge graph.Â
- Built-in Business Analytics: Create and analyze smart reports through interactive dashboards.Â
- Support iPaaS model: Public cloud deployment with SSO authentication, multi-tenancy support, etc.