According to Statista, 402.74 million terabytes of data are generated, imitated, and consumed daily. Managing this vast amount of data presents a significant challenge due to its volume, velocity, and variety. This fragmentation often leads to inconsistencies, redundancies, and a lack of visibility, which affects decision-making and hinders business growth. This introduces the need for solutions like a single view.
What is Single Store?
A single view is when data from multiple sources is compiled into a unified entity, creating views of specific entities, such as customers, products, or transactions. It can also be tailored to suit diverse business and technical goals, such as warehouse inventory, ticketing systems, or any other dataset.
The idea is to create a single source of truth that serves data to companies and users based on their privileges and needs. This approach allows organisations to gain deeper insights and make better decisions by bringing all relevant information together.
How a Single View Works?
Integrating data from various sources into a centralised system creates a single view. From a technical perspective, this involves pulling data from different databases, data lakes, or even real-time streams and consolidating it into one unified entity. Traditional databases, however, often require rigid, predefined structures, making it challenging to merge data from different systems into one seamless view.
Why is single view important?
Single Views in Technology
Engineering teams and organisations can use a single view to gain comprehensive insights into system logs, customer data, and product interactions in the technology sector. By studying this consolidated data, engineering teams can quickly identify patterns, diagnose system issues, and improve their systems’ reliability.
Single Views in Financial Services
With the single-view approach, these institutions can gain a deep understanding of customer behavior, preferences, and financial needs to improve their experiences.
Single Views in Government
Government institutions often handle massive amounts of data related to citizens, including healthcare, education and much more. With a single view, governments can get aggregate data on their citizens from these government agencies to improve efficiency, simplify audits, and facilitate data sharing between departments.
Apart from these, there are many business benefits of Single View, like enhanced data security, improved data accuracy and accessibility, reduced costs and improved efficiency, and more.
The single-view approach is one way businesses struggling with siloed data can manage these complex data events, streamline operations, and gain a competitive advantage. To learn more about this topic, please check out the full Mia Platform blog here.
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