Cost optimization is a business-focused discipline that involves cost reduction while simultaneously maximizing value. When in reference to data platforms, cost optimizations refers to the practice of sourcing innovative solutions to otherwise complex expenditures. There’s no one size fits all solution to managing data meaning no two organizations will take the same approach to cost optimization. It’s important to remember that your path to cost optimization may not look the same as others and vice versa.
In this article, we’ll dive into 3 simple practices that will help you optimize the cost of your data platforms including simplifying your data architecture, diving into your data ownership and hosting plan, and upholding the quality of your data.
3 Simple Steps to Optimize the Cost of Your Data Platforms:
- Simplify Your Data Architecture
Data architecture refers to the practice of how data is organized from collection to transformation, to distribution and consumption. Data architecture consists of models, policies, rules and standards that determine how data is collected, stored, arranged and used in both data systems and organizations. This practice sets the blueprint for how data will flow through data storage systems which can ultimately be incredibly costly if not optimized.
Many organizations suffer from fragmented storage solutions for a variety of reasons with one of the largest being a lack of standardized practices. The lack of standardization around data-management can result in lost time and increased error. In order to optimize the cost of your data platforms, you must optimize your infrastructure and revisit your core Data architecture. This means starting from the ground up and evaluating any and all practices that relate to how your organization stores data.
When simplifying data architecture, there are both short-term and long-term solutions. In the short-term, organizations can cut costs by optimizing infrastructure. This means partaking in practices like offloading historical data to lower-cost storage solutions or pausing renewals for server contracts. An additional tactic that can be leveraged to simplify Data architecture in the short-term is taking an in-depth look at your entire architecture development portfolio to slow down or halt low-priority projects.
While long-term solutions may be more strenuous, they may ultimately generate higher savings. Massive transformational undertakings like reducing capacity by migrating data depots to more common data platforms that embrace a cloud-centric design like data lake is an excellent way to prepare for spikes in computation and storage.
- Dive Into Data Ownership and Hosting
When referring to data, ownership accounts for both the possession and responsibility of the data. Some organizations choose to leverage external hosting platforms to account for mass amounts of data whereas others choose to host internally or create a hybrid environment. Data hosting refers to the practice of storing data in a stable, accessible environment. Despite the magnitude of data that exists, there is no standardized system that accounts for data ownership and hosting. As a result, many organizations choose to take an approach that is unique to their needs in an attempt to source an adequate solution that is both secure and cost effective.
It’s important to remember that there is no one-size fits all solution to data ownership and hosting. The cost of data ownership can be astronomical. When you choose to store your data in a cloud environment, it’s important to consider the financial burden. Not only do you pay to store your data, but you also pay when it comes time to get your data out of that environment. For that reason, it’s important to consider your options. Is cloud based hosting for you, or are you capable of creating a hybrid environment that empowers you to take back control of the financial burden that is cloud-based hosting?
While diving into data ownership and hosting empowers you to optimize the cost of your data platform, it also makes it possible for you to have greater control over your data. If you don’t house all of your data in one environment, you aren’t strictly beholden to one service provider. This means you can switch service providers or embrace a new platform that better serves your business at any time.
- Uphold the Quality of Your Data
Data quality is a measure of the condition of data based on factors like reliability, consistency, accuracy and whether or not the data is up to date and in-tact. While data quality is subjective and may be defined differently from organization to organization, it can easily be referred to as data that is deemed fit for its intended purpose.
Upholding quality data can be incredibly costly which is why it’s important to account for your entire data architecture system. Accounting for the entire lifecycle of your data architecture system will ensure the quality of your data is upheld rather than corrupted- helping you optimize the cost of your data platform.
There are a variety of touchpoints which may pose a threat to the quality of your data. For example, if you transport your data from factories to the network through buffer servers to the cloud, a simple blip in the network can corrupt your data. As opposed to shipping quality data, you’re now having to backtrack and repair your data in order to deliver the quality that your users are used to.
To overcome this barrier and uphold the quality of your data to avoid costly repairs in the future, you may want to consider leveraging a cost-effective, secure storage option like ActiveScale that makes it possible for users to store large amounts of data in a storage area within their own network. This means your data will remain intact and be easily accessible at all times.
Optimize Your Efforts with Kloud9
Data platforms can be costly which is why it’s important to make iterations when appropriate. If you’re not sure where to start, Kloud9 can help. Kloud9 is a pioneer and continuous innovator in the Retail sector that strives to empower businesses to transform into cognitively intelligent enterprises. Interested in learning more? Click here.