If You Want To Deal With Data Silos, Embrace Them [Forbes]
Meta Platforms, Inc. - Class A (FB)
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Source: Forbes
Photo:GettyIn 2017, Kobe SteelannouncedJump to 2019: The EU's GDPR regulations and California's CCPA required companies to unify data residing in multiple places. The cost of noncompliance is high; in the case of GDPR, a fine of 4% of global revenue or 20 million euros, whichever is greater. In this new world of regulation, what you don’t know as an enterprise can hurt you — literally.There are other less immediate, but no less serious consequences of data silos. Consider the challenges inherent in digital transformation. Incumbents must either learn to monetize data effectively or compete with well-funded startups that have already solved data monetization.In fact, many large companies are hugely inefficient at making use of data. Data scientistsspend as much as 80% of their timeThe solution: Embrace your enterprise data silosYou're probably expecting me to tell you that, to win, you have to get rid of your enterprise data silos as soon as possible. But I'm going to recommend the opp
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