OLTP is a transaction-centric data processing that follows a three-tier architecture. Every day, businesses worldwide perform millions of financial transactions. This fact brings to mind client-facing personnel such as bank tellers and supermarket cashiers tapping away on keyboards and at cash registers, and with good reason. According to ACI Worldwide, a payment systems company, there was a 42.2% growth in global real-time transaction volumes in 2023, amounting to 266.2 billion transactions.

Data mining, also known as Knowledge Discovery in Data (KDD), is a powerful technique that analyzes and unlocks hidden insights from vast amounts of information and datasets. Data mining goes beyond simple analysis—leveraging extensive data processing and complex mathematical algorithms to detect underlying trends or calculate the probability of future events.

Data filtering plays an instrumental role in reducing computational time and enhancing the accuracy of AI models. Given the increasing need for organizations to manage large volumes of data, leveraging data filtering has become indispensable.

The success of data warehouse solutions depends on how well organizations implement test cases to guarantee data integrity. As organizations evolve, data warehouse testing becomes crucial to adhere to industry best practices.

According to Gartner, 80% of companies worldwide are expected to have efficient data management systems in place by 2025. This projection highlights the growing recognition of data governance tools as essential enablers for maintaining and enhancing the quality and security of organizational data within these data management systems. In this blog, we will talk about some of the best data governance tools and software to consider in 2024.

Did you know data scientists spend around 60% of their time preprocessing data? Data preprocessing plays a critical role in enhancing the reliability and accuracy of analytics. This blog will discuss why data preprocessing is essential for making data suitable for comprehensive analysis.

Data integrity refers to protecting data from anything that can harm or corrupt it, whereas data quality checks if the data is helpful for its intended purpose. Data quality is a subset of data integrity. One can have accurate, consistent, and error-free data, but it is only helpful once we have the supporting information for this data. Data integrity and quality are sometimes used interchangeably in data management, but they have different implications and distinct roles in enhancing data usability.

An effective data governance strategy is crucial to manage and oversee data effectively, especially as data becomes more critical and technologies evolve. This strategic approach to data governance aligns with findings from a McKinsey survey, suggesting that companies with solid data governance strategies are twice as likely to prioritize important data — leading to better decision-making and organizational success.

A 2021 Educase report shows that 75% of surveyed institutions have started or are planning extensive digital transformation strategies to improve their data utilization. The importance of a strategic approach to data utilization in this context cannot be overstated. Effective data management frameworks ensure that data across the institution is accurate, consistent, and used in alignment with internal policies and external regulations.

Data ingestion is important in collecting and transferring data from various sources to storage or processing systems. In this blog, we compare the best data ingestion tools available in the market in 2024. We will cover their features and pros and cons to help you select the best software for your use-case.