How to Modernize Your Data Management Strategy in the Auto Industry
Actian Corporation
March 5, 2024
In the data-driven automotive industry, a modern data management strategy is needed to oversee and drive data usage to improve operations, spark innovation, meet customer demand for features and services, create designs and safety features, and inform decisions. Keeping the strategy up to date ensures it meets your current data needs and aligns with business priorities.
With so many data sources now available—and new ones constantly emerging—in addition to data volumes growing rapidly, companies in the automotive industry need a data management strategy that supports this modern reality. A vast rangxe of data is available, including sensor, telematics, and customer data, and it all needs to be integrated and made easily accessible to analysts, engineers, marketers, and others.
Go Beyond Traditional Data Management Approaches
In today’s fast-changing data management environment, the ability to understand and solve data challenges is essential to becoming a true data-driven automotive company. As AWS explains, a robust strategy can help solve data management challenges, improve customer experience and loyalty, build future-proof apps, and deliver other benefits.
By contrast, not having a strategy or taking an outdated approach to data can have negative consequences. “When companies have ineffective strategies, they handle daily tasks less effectively,” according to Dataversity. “Data and data processes get duplicated between different departments, and data management gaps continue to exist.”
A modern data management strategy must go beyond traditional approaches to address present-day needs such as scalability, real-time data processing, building data pipelines to new sources, and integrating diverse data. The strategy should be supported by technology that delivers the capabilities your business needs, such as managing complex and large volumes of data.
Plan to Make Data Readily Available
Your data strategy should cover the variety and complexity of your data, how the data will be brought together, and how the integrated data will be shared in real-time, if necessary, with everyone who needs it. The strategy must ultimately ensure a unified, comprehensive view of the data in order to provide accurate and trusted insights.
Making data readily available with proper governance is essential to fostering a data-driven culture, enabling informed decision-making, and designing vehicles that meet customer wants and needs. The data can also help you predict market changes, gain insights into your supply chains, and better understand business operations.
As best practices and technologies for data management continue to evolve, your strategy and data management tools should also advance to ensure you’re able to optimize all of your data. A modern data management strategy designed to meet your business and IT needs can help you be better prepared for the future of the automotive industry.
Align Your Data Strategy With Business Goals
Your data strategy should support current business priorities, such as meeting environmental, sustainability, and governance (ESG) mandates. As the automotive industry uses data for innovations such as autonomous driving vehicles and intelligent manufacturing processes, there is also a growing pressure to meet ESG goals.
As a result of ESG and other business objectives, your data strategy must address multiple business needs:
- Deliver speed and performance to process and analyze data quickly for timely insights.
- Offer scalability to ingest and manage growing data volumes without compromising performance.
- Integrate technology to ensure data flows seamlessly to apps, platforms, and other sources and locations.
- Ensure governance so data follows established processes for security, compliance, and usage.
- Build trust in the data so all stakeholders have confidence in the insights for informed decision-making.
- Improve sustainability by using data to lower your environmental impact and decrease energy consumption.
- Future-proof your strategy with an approach that gives you the agility to meet shifting or new priorities.
The road ahead for the automotive industry requires businesses to continually explore new use cases for data to stay ahead of changing market dynamics, customer expectations, and compliance requirements. Your ability to innovate, accelerate growth, and maintain competitiveness demands a data strategy that reflects your current and future needs.
How Actian Can Support Your Strategy
Modernizing your data management strategy is essential to meet business and IT needs, achieve ESG mandates, and leverage the full value of your data. Actian can help. We have the expertise to help you build a customized strategy for your data, and we have the platform to make data easy to connect, manage, and analyze.
The Actian Data Platform is more than a tool. It’s a solution that enables you to navigate the complex data landscape in the automotive industry. The scalable platform can handle large-scale data processing to quickly deliver answers—which is key in an industry where decisions can have far-reaching implications—without sacrificing performance.
With Actian, you can meet your objectives faster, ensuring your future is data-driven, sustainable, clear, and more attainable. It’s why more than 10,000 businesses trust Actian with their data.
