The new era is the world of startups and it is said data is the key to success The same is being stated by Ravi Vijayaraghavan, Senior Vice President and Chief Data Analytics Officer at Flipkart Group. Speaking at the ETCIO Data Strategy Summit 2023, he emphasized the important role of data engineering in ensuring the triumph of new businesses.
Vijayaraghavan further emphasized that startups should establish a robust data-centric culture from day one and it is crucial for every member of the organization to have a deep appreciation for the worth as well as the trustworthiness of data. This cultural dedication to data has the potential to be a transformative force.
Dealing with vast amounts of data, often referred to as “webscale data,” is a challenge that startups need to address head-on. Vijayaraghavan advised that making strategic investments in data engineering and building robust data structures should be a top priority. This foundation sets the stage for effective data utilization.
Additionally, Vijayaraghavan highlighted the significance of instructing foundational engineering teams on essential facets of data including safeguarding data, gathering data and locating data sources as well. It is imperative for startups to guarantee that their teams possess a comprehensive understanding of what data is permissible for storage and what should be avoided. All these are possible while maintaining a heightened vigilance towards data privacy and security concerns.
In the swiftly transforming digital terrain, where data plays an ever more crucial role in business functions, the wisdom shared by Vijayaraghavan becomes an invaluable compass for startups aspiring to prosper in this age dominated by data.