Data does not have intrinsic value—it must be understood. An effective data mediation solution is focused on capturing and processing data from a wide range of sources in order to convert it into actionable data to inform business decisions.
The modern data landscape is a torrent of information, flooding in from numerous data sources and platforms. Businesses need to find ways to ‘tame’ that flood, turning it into a resource which can actually add value to a business.
Enterprises should think of data mediation as the lynchpin of this process. It acts much like a hydroelectric dam might in a river system—numerous rivers and streams converge upstream of the dam, creating a huge data flow that has the potential to flood downstream systems. The dam acts as a bridge between upstream generation and downstream needs, taming the flow of information, transforming it into a useful resource that can energize a business, and providing a measured and managed downstream flow that adds value rather than overwhelms operational processes.
Data mediation in the modern landscape
Data volumes have exploded over the last decade, with annual data generated more than tripling between 2016 and 2020 alone. IDC Global predicts that over the next five years, the volume of data generated will be more than double the total amount of data generated between the advent of the digital storage age and now.
This data growth represents a huge pressure on enterprises and operators to not only capture data, but also leverage it to add value to their business. It’s clear that those who don’t are at significant risk of falling behind to more sophisticated data-driven organizations.
Neural Technologies’ Data Mediation solution is designed to allow businesses to thrive in this high-volume data ecosystem. It is capable of running any digitized data processing scenario, providing data conversion that easily integrates with both legacy and new data collection systems. It provides flexible data processing that fits seamlessly into your operating environment, offering a truly scalable solution that can adapt to your changing business needs.
Flexibility is fundamental for any future-proof data solution. In 2012, the business landscape was largely unaware of the huge data growth ahead, with total annual data generated far below what it is today. The COVID-19 pandemic has delivered another transformative shock to digital connectivity and data demands, further accelerating the pace of data generation around the world.
As we look to a future of growing 5G and Internet of Things (IoT) adoption, alongside accelerating penetration of machine-to-machine (M2M) data generation through artificial intelligence and automation solutions, data mediation will be the vital lynchpin between data and value.
Turning complexity into opportunity
The advent of emerging platform technologies like 5G will deepen the complexity of existence data ecosystems, not only adding to the total volume of data generated but introducing new and dynamic origins. According to Cisco’s Annual Internet Report, the average number of devices per capita is expected to rise from 2.4 per person in 2018 to 3.6 per person in 2023, with the total number of networked devices increasing from 18.4 billion to 29.3 billion over this timeframe.
Machine-to-machine interactions will account for a huge share of this growth, as automation, AI, and machine learning mean data generated for, and consumed by, machines rapidly expands. M2M modules are expected to account for half of all networked devices by 2023, up from just 33% in 2018.
Enterprises now face a real ‘sink or swim’ moment in their data journeys. An appropriate data mediation solution is essential to allow operators to navigate these turbulent waters.
Data mediation is the step which turns noise into opportunity. That process leverages extract transform load processes which are designed to extract data from different sources, transform it into a usable resource, and load that data into systems for operational units to act upon. These ETL tools act almost like the turbine in our hydroelectric power plant, churning the choppy waters of data into a solution that can power business success.
Since data mediation is a filter that channels data into insight, its use cases are wide reaching across industries and operational areas. It forms a pivotal step in processes from billing and reconciliation to fraud management and revenue protection.
Data mediation means capturing all critical data points to inform both automated and human-driven decisions. A charging solution for example can only provide effective insight if it incorporates all critical parameters of assessment, including customer history, trend patterns, time of operation, geographical dimensions, and a whole range of other critical data elements.
Data mediation is the lens through which all other data gains value. It is about capturing the full scope of data, from both legacy and novel sources, to make decisions based on complete oversight of the relevant information.
In a world of rapidly increasing data volume, data mediation is a process that no enterprise can afford to overlook.