Monte Carlo has announced a new capability in its observability suite, the Data Product Dashboard.
The new dashboard gives data teams a window into the health and reliability of the tables, training sets, and other assets powering data products, Monte Carlo says. Monte Carlo says the new Data Product Dashboard allows users to define a data product, track its health, and report on its reliability to stakeholders directly in the company’s observability platform.
Monte Carlo defines data products as applications or assets that deliver trusted information or services to downstream consumers. One example is an airline’s flight tracking system that combines real-time GPS data, flight manifest tables, and historical arrival and departure information to keep travelers informed. (Read Datanami’s deep dive into data products here.)
Jesse Miller, product leader at Monte Carlo, told Datanami that data products are gaining importance in organizations as they bridge the gap between raw data and actionable insights to impact business outcomes.
“With our Data Product Dashboards, Monte Carlo empowers data teams to build trustworthy data products by providing visibility into critical data asset health and reliability. Customers are already using this solution to foster trust, collaboration, and the adoption of reliable data within their organizations,” he said.
A company blog post penned by Miller describes how data products have emerged as a new and impactful data management framework that can ensure tables, reports, ML models, and other assets are directly tied to tangible business outcomes. But the data feeding these products must be accessible, trustworthy, and performant.
Bad data going downstream has consequences. Data trust is a major hurdle to data product adoption according to a recent Monte Carlo and Wakefield Research survey of data engineers. The survey that showed bad data impacted 31% of revenue, and 74% of respondents reported stakeholders being the first to identify data problems most or all of the time.
To address this issue, Data Product Dashboard allows users to identify which data assets are feeding specific data products, based on tables, reports, dashboards, and models. Users can select relevant tables and their associated assets to define specific data products, thereby keeping everyone aligned on data product definitions, Monte Carlo asserts.
The dashboard also reports on key data health metrics and KPIs over time. These include the number of incidents impacting a given data product, incident status and severity, and monitor coverage for the tables feeding a given product. Additionally, the dashboard allows for data product reliability reporting to downstream stakeholders.
The Data Product Dashboard is the newest addition to Monte Carlo’s observability suite. It is joining the Data Reliability Dashboard, released last October, and the Table Health Dashboard, launched in February. Miller says the Data Product Dashboard takes Monte Carlo’s vision for data observability a step further by giving organizations the ability to segment, define, and monitor tables and other upstream assets based on the internal or external data products powering them.
Monte Carlo CEO and Co-founder Barr Moses, one of Datanami’s 2023 People to Watch, said in a statement that as companies ingest larger volumes of data, the opportunity to build impactful and innovative data products exponentially grows. But in order for data products to reach their full potential, data teams must give them the same attention as software applications to ensure accessibility, performance, and reliability.
“Data Product Dashboard is the first solution of its kind to help organizations manage and improve the data quality of the tables and assets powering their most critical data products, and in the process, foster greater trust and collaboration between data teams and their stakeholders,” Moses said.
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Author: Jaime Hampton