If you’re familiar with “the three Vs” of data (volume, variety, and velocity) then you’re also probably aware that all three Vs are increasing exponentially. There’s more data out there than ever before. There are more types of data out there than ever before. And data is moving at faster speeds than ever before.
And we shouldn’t forget the fourth V: value. Indeed, data is also more valuable than ever before. Last year, The Economist called it the new oil. With data being so valuable, you need a database capable of handling the massive volume, variety, and velocity of today’s data in order to get the most out of it. That database is a graph database, and here’s why a graph databases is so important for companies to use in the current data environment:
Companies need to be able to do much more than just store their data. They need to be able to generate real-time insights from it, and when it comes to generating real-time insights, the relationships between the data points matter more than the individual points themselves. Relational databases have a tough time analyzing complex data relationships due to their rigid schemas, but graph databases were made to examine complex labyrinths of data points at scale and in real time.
Graph database are not only good for storing and analyzing data, they’re also good at expanding data models and adapting quickly to changing business needs. This flexibility gives you speed and quick time to market. Graph databases significantly reduce modeling and development time and make it much easier for you to change the data model once the system is built.
Fraud protection is one of the most powerful use cases of a graph database. Today’s fraudsters use sophisticated “rings” comprised of stolen and synthetic identities to do their dirty work. Discovering these rings by analyzing individual points of data won’t work. You need to be able to examine complex data relationships to uncover small inconsistencies or irregularities, and that’s exactly what a graph database can do.
Insights, security, and flexibility should be reason enough to use a graph database at your company. But in reality, there’s more to the story than this, and that part involves your company’s applications.
Watch our webinar, How Multi-model Graph Databases Can Supercharge Your Enterprise Applications, to learn more.
SVP Sales and Marketing