We have discussed the data silo challenge in a previous commentary. So what is the solution to the data silo challenge?
We would submit that the solution has to enable data to be taken from the various sources and combine it together into a single data repository. Company management can then look at the data holistically in order to determine the viability of their marketing efforts. By accessing the previously untapped data silos found outside of existing structured databases, the data can be queried in an integrated manner. Managers could then track each customer having access to this information in real-time. The company could also share data insights with its partners, creating deeper and stronger relationships.
The solution can deliver measurable and lasting competitive differentiation. The power is in mining the customer engagement in real-time. The capability is available now to anticipate, influence, and optimize customer experiences. In its most advanced form, the solution learns both from the user’s interactions as well as external observations such as an extended network of relationships.
The intelligence in the solution comes from using the various pieces of information from the different sources, like breadcrumbs tracking user behaviour, to feed a machine learning system that creates a predictive model of customers. This predictive model has enough intelligence to drive loyalty and profitability at the level of the individual customer in real-time.
The management systems that run these incredibly sophisticated online applications for continuous availability also have a predictive model of how the application should run. When the application starts acting outside the expected boundaries, the model suggests the best course of action to the administrator, if it doesn’t make changes itself.
The core offering is the solution, which was created to address the issues business are facing around the ever-increasing data volumes, often referred to as Big Data. Combined with the complexity and advances in technology that have required a different approach to data and transactional systems. This new approach to IT application development and analytics, with the uniqueness of a radical metadata methodology is eliminating up to 80-90% of traditional IT development effort. Resolving these challenges is about helping clients develop into a data driven business.
As a starting point in our data review process, we ask ‘what are the two toughest questions that the company faces’. This is actually the hardest part of the assignment.
Once understood, the answers provide the basis for a client engagement to demonstrate the capabilities of the solution.