Modern Data Stack as an alternative for cost optimization

Created in:
March 22, 2024

Modern Data Stack can reduce costs by optimizing resources, improving storage and implementing efficient data management practices.

And with a modern data platform, you can also identify waste and maximize ROI on data technologies.

Understand how your company can achieve operational and financial efficiency, and the growth and competitiveness you want to have in your market with Modern Data Stack as your ally in optimizing your costs.

Keep reading.

Why can MDS be an alternative for cost optimization?

The Modern Data Stack (MDS) can be an alternative for cost optimization for several reasons.

Its advantages promote operational efficiency and help reduce costs in various aspects of data management and analysis.

We've listed seven main reasons. Take a look.

1. Consolidation of tools

A Modern Data Stack involves the consolidation of various tools and technologies into integrated platforms.

This can reduce costs related to management, maintenance and training in various specialized tools.

2. Operational efficiency

By automating data processes that usually require manual effort, MDS reduces the time spent managing and processing data, resulting in operational savings.

3. Scalability

The adoption of cloud-based tools within MDS allows companies to adjust their resources according to demand, avoiding overspending on on-premise data infrastructure that may not be used to its full capacity.

4. Improved performance

With the use of modern technologies, MDS can offer superior performance in data processing and analysis.

This can lead to faster and more informed decision-making, helping companies to identify cost-saving opportunities more quickly.

5. Better data integration

The efficient unification of data from different sources by MDS minimizes the costs related to data integration and increases the quality of the insights obtained.

6. Automation and AI

Using automation and artificial intelligence, Modern Data Stack reduces the need for manual intervention, cutting labor costs and increasing efficiency.

7. Democratic access to data

The democratization of access to data, a key principle of MDS, means that more people within an organization can make decisions based on data without the need for intermediation.

This can speed up the decision-making process and reduce the costs associated with data analysis.

In conclusion: implementing the Modern Data Stack is a strategy for organizations looking to modernize their data operations and significantly optimize costs.

MDS stands out as a viable path for companies seeking competitiveness and financial sustainability in today's data-driven landscape.

How can Modern Data Stack help reduce cloud storage costs?

Modern Data Stack can reduce costs by optimizing resources, improving storage and implementing efficient data management practices.

Here are some specific strategies which Modern Data Stack can help reduce cloud storage costs.

  • Data storage based on use and access

There are platforms that offer tier-based storage of large volumes of data.

Companies can store less accessed data in cheaper tiers, while keeping frequently accessed data in faster and slightly more expensive tiers.

  • Compression and elimination of duplicate data

Many modern data management tools include advanced compression and deduplication features, which can significantly reduce the amount of storage space required.

  • Automation of data lifecycle management

Modern Data Stack tools can automate data lifecycle management, moving data between different storage tiers based on rules defined by the organization.

  • Optimized data architectures

The adoption of optimized data architectures, such as data lakes e data warehouses allows for more efficient data management.

These architectures are designed to store large volumes of data economically, without compromising performance.

  • Cloud scalability

MDS takes advantage of the scalability of cloud infrastructure so that companies can quickly adjust their storage resources according to current needs.

This avoids over-provisioning and wasting resources, resulting in cost savings.

  • Data retention policies

Implementing relevant data retention policies can help eliminate unnecessary data, reducing the volume of data stored and, in turn, storage costs.

  • Efficient data analysis

MDS solutions enable more efficient data analysis, helping companies to quickly identify and eliminate data redundancies or move rarely accessed data to more economical storage options.

  • Data integration and orchestration

Effective integration and orchestration of data between systems reduces the need to store multiple copies of the same data in different locations, optimizing the use of storage and reducing costs.

Diagram of a Modern Data Approach.
Diagram of a Modern Data Approach.

By implementing one or more of these strategies as part of a Modern Data Stack companies can significantly optimize their cloud storage costs, while ensuring that data remains accessible, secure and ready for analysis.

Transformation and agility: the journey of large companies with Modern Data Stack

The key to a modern data approach approach is effective integration and automation between components, ensuring that data is easily accessible to those who need it, while maintaining high standards of security and governance.

The digital revolution has led organizations of all sizes to seek innovation, and MDS is no longer an option, but a necessity to keep a company competitive in its market.

Take a look at companies such as Pepsico, Edenred and Burger King that have implemented the Modern Data Stack with Indicium's help.

And each case is a unique success story that highlights the practical application of advanced technologies in real-life scenarios.

How to start implementing Modern Data Stack?

Implementing Modern Data Stack involves taking a strategic approach to gathering, processing, storing and analyzing data in an efficient and scalable way.

This process must be based on:

  • definition of objectives and data needs;
  • evaluation of the current data infrastructure;
  • choice of adaptable and scalable tools;
  • implementing data governance practices;
  • dissemination of a data-driven culture;
  • started with a pilot project;
  • monitoring and look for necessary adjustments.

Keeping to update of the latest trends and technologies is crucial to ensuring that your data analysis is effective and gives your company a competitive edge.

Applying Modern Data Stack can seem complex at first. That's why you can count on Indicium to identify the transformation your company needs to achieve.

We are a reference in the main Modern Data Stack technologies. Our team are experts and we hold weekly training sessions on new technologies and modern data processes.

Click here to talk to us and take a step towards technological success for your business.

Modern Data Stack

Ângela Gomes Vieira

Analista de Marketing de Conteúdo

Keep up to date with what's happening at Indicium by following our networks:

Prepare the way for your organization to lead the market for decades to come. Get in touch.

Click on the button, fill in the form and our team will contact you shortly. We're ready to help and collaborate on your data initiatives.