What is a Data Product
“The goal is to turn data into insights and insights into a data product .”
LinkedIn’s people recommendations, Amazon’s product recommendations, Quora are some of the thriving data products. Data products can be defined as a blend which primarily use data to build a product or service. They use more than just analysis, they leverage insights. As data products bring insight and intelligence into the customer experience, they are crucial for your company’s success. Data products are the helm of a data-driven business, getting better with every use. At OvalEdge we worked with many organizations in creating these data products: Supply Chain Optimization, Appeal Reduction, Global Tax Hub etc.
Building a New Data Product
It Starts with Multi-source Data
Build your Data Catalog in weeks
Break organizational silos by just collecting the metadata, data statistics from all the available sources.
This way you know what all data exists and how to leverage it for your business case.
Connect people to the right data
Conduct your workshop with agility and efficiency
OvalEdge simplifies the task of researching data and understanding it. This process usually takes months but after using a workshop approach and OvalEdge tool, you can finalize all the requirements within a few weeks.
Increase throughput with improved visibility and shared knowledge
When your project team can not answer the question about a dataset, you need to ask questions from SMEs. OvalEdge provides a mechanism to find the owner or most knowledgeable person about a specific dataset. It also enables multifunctional teams to collaborate.
Collaborate with various data teams with due governance
When you collaborate with multifunctional teams, it’s important to assign roles and responsibilities, otherwise things go awry. OvalEdge facilitates due governance in collaboration.
Build using suitable technology
Data products may require mutiple technology. It may require machine learning to create an algorithm, ETL technology to transform data, visualization software to visualize data or NoSQL database for the search engine.
Integrated Data Catalog provides a mechanism to understand the building blocks.
Connect with various databases, ETL technology, visualization software or NoSQL databases to understand the building process.