Data has emerged as the mainstay of well-informed business decisions. More and more organizations are steering clear of guesswork and relying on numbers to decide the future course of action. But making the most of the information assets requires a comprehensive view of where they come from and how they move through the system. At the same time, compliance and accuracy play a significant role.
Data lineage narrates the entire story, from the source to all processes, changes, storage, and consumption. But whether you run a small business or a large enterprise, you may have some qualms about the complexity of the tracking process. However, missing out on data tracking is the last thing you should do. Let us explain why businesses should bother about it.
Easy verification
The viability of data-driven decisions depends on the accuracy and authenticity of the raw numbers. Tracking the source and pathway of these numbers from the outset makes you confident about the information you have and the insights you gain from it. A comprehensive view also enables you to spot anomalies and verify them while making critical business decisions.
Low-risk process changes
Errors in data pinpoint the areas of origin of problems. Locating issues helps you implement targeted process changes with minimal risks as you have a clear understanding of the problem areas. Moreover, you are in a better place to understand the potential impact of these changes down the line. For example, lineage tracking can accurately show all the employees in a chain of responsibility. Managers can follow it to check where and how changes were implemented and what went wrong.
Better compliance
The safety and confidentiality of sensitive data sets are crucial from a compliance perspective. With Data lineage tracking, you document any changes implemented by authorized people for valid reasons. Moreover, you have to take note of the person making the changes and the process used for them. Overall, you end up with a trusted compliance solution for your business, so you need not worry about fines and penalties down the line.
Seamless adaption of new technologies
Another valid reason for businesses to prioritize data tracking is that it keeps them at pace with the latest technologies. With lineage tracking, you can reconcile old and new data sets, combine them, and maintain them in an appropriate format. Every time you adopt a new technology, you get the benefit of seamless and hassle-free data migration to these applications.
IT system benefits
With rapidly developing technologies, data migration is a norm for businesses as they have to send all the information from one storage system to another. Lineage tracking between the source and destination systems minimizes the workload of your IT department in the long run. The benefits extend beyond less task burden on the IT team. They also need not stress about security and compliance.
Tracking data is a wise decision for any organization, regardless of size and scale. In fact, it is a key aspect of a sound foundation, so business owners should implement it without second thoughts.