In the digitally connected economy, data is the new gold. Companies that have data Collect, Integrate, Secure and Evaluate Efficiently, create the basis for new business models and measurable success. A well-thought-out Data & AI Strategy — i.e. the coordinated strategy for Data Management, Data Governance, and the Use of AI — is the key to staying ahead of the competition.

At the same time, Master complex data landscapes, ensure data quality and put critical AI applications on a solid foundation. Without high-quality data, even the most advanced AI models are worthless: A recent survey by Fivetran showing An average of 6% loss of revenue or 406 million US dollars per year Through underperforming, data-related faulty AI models. AI-powered data quality processes (including anomaly detection, standardization) counteract this and enable scalable, compliance-compliant use of data.

Data governance as an important component: Data governance comprises the discipline of ensuring the quality, security and availability of corporate data through clear guidelines, standards and processes. It forms the backbone of a reliable data strategy and ensures that data can be used responsibly and in compliance with compliance.

The 5 Vs of Big Data as a Guide: To capture the diversity and complexity of modern data worlds, the 5 Vs — Volume (amount of data), Velocity (Speed), Variety (Diversity), Veracity (Truthfulness) and Value (Benefit) — offer a proven model. This helps companies to structure requirements precisely and to increase the added value of their data in a targeted manner. (TechTarget)