Suffering from Data Climate Change?

February 22, 2014

Drastic swings in access to vital business analytics and customer insights are impacting organizational strategies.

While many large organizations across the US are focusing on how to deal with the “Big Data Vortex”, there is a wide region of the business landscape still suffering from “Information Drought”. On the bright side, most of these organizations have multiple reservoirs of valuable data stored in various operational systems and third-party applications.

Unfortunately, these companies lack access to the critical in-depth views of the data, and therefore fail to benefit from vital business analytics and customer insights. Key areas of the drought are in industries that experience multiple consolidations or acquisitions. Sectors such as: consumer products, media and entertainment, retailers, telecoms, utilities, travel and hospitality. Instead of finding ways to integrate the data already in its possession, they simply acquire more. Each assimilation brings in new operational systems, different data structures, and additional means of access. The organization has a new data reservoir, but still has a thirst for information!

Consequently, these organizations cannot easily perform fundamental analytics on their business and customer data. Today, data-driven insights provide an essential foundation for key organizational strategies, such as optimizing marketing communications, new customer acquisition, customer satisfaction & loyalty, management decision-making, customer retention and performance measurement.

Many of these organizations are now investing in data irrigation solutions, where key attributes from the disparate systems are being piped into an information oasis. Data is being consolidated with 360-degree views of all customer interactions, providing long- awaited access to flowing insights pumped out by sophisticated data analytics.