|By Adam Wilson||
|April 16, 2012 09:30 AM EDT||
Businesses can be transformed, sometimes through new leadership, sometimes through new market realities or business relationships. But perhaps the easiest way, for IT at least, to transform the business is by enabling the business to evolve from a data silo'd organization to a data-centric enterprise and by unleashing the power of data in new ways.
Of course, easy is a relative term, and there are substantial challenges to truly transforming a business environment and proactively supporting business needs through the use of data. These include:
- Achieving a Single Source of Truth Across all Enterprise Applications - A single, authoritative view of the customer is essential for a business to become truly customer-centric.
- Achieving an Extended View of Business-Critical Data and Its Key Relationships - Understanding the true value of each customer hinges on possessing an extended view of all critical relationships.
- Capitalizing on New Data Sources - New data is everywhere from social media data to sensor and RFID data to other types of interaction data. And it is Big Data offering big insights and big competitive advantages to those who can make the most of it in use cases such as sentiment analysis, and real-time supply chain analysis.
Why Master Data Management Hinges on Data Quality
In a recent Ovum Research study, entitled Optimizing Enterprise Applications: The Data Connection, providing a single version of the truth was ranked as the foremost challenge facing IT executives today. Gartner, meanwhile, ranks a single view of the customer/party as second only to improving reporting and analysis as a tactical master data management goal. Clearly achieving a single source of truth across applications is a top of mind concern. And the best way to accomplish this is to comprehensively manage master data across the applications.
Data quality is the lynchpin of master data management, and for obvious reasons. You do not put new wine into bad barrels unless you like expensive vinegar, and neither do you put dirty fuel into a race car unless you like losing. The very idea of having a source of "truth" hinges on its contents being high quality, thus the ability to match, cleanse and profile data as part of the master data management process is critical to the success of any master data management initiative.
Three Levels of Visibility to Transform the Business
Say you want a trusted single view of the customer. How do you go about creating this single source of truth across your many applications? A MDM hub will enable you to source the best (i.e., most correct and complete) information from all relevant applications and integrate it into a single "golden" profile. Integrated data quality capabilities within the hub ensure the data's correctness, completeness and consistency. The final step is to distribute the golden profile back to the business applications to be leveraged by users and business processes.
After achieving this single view, you can move to the second level of visibility: obtaining an extended or 360 degree customer view. This will enable you to understand your customer's key relationships such as family and business relationships and how those relationships impact your business - do I have an opportunity to cross-sell or create special offers based on these relationships?
Finally, you can progress to the third level of visibility: the complete customer view, which adds all interactions your organization has had with the customer.
Delivered in real time or near-real time, the transformative power of such views is immense. Customers can be wooed with genuinely meaningful, real time offers. Up-selling and cross-selling activities can be based on complete and up-to-the-minute customer information. The number of companies that are doing this today is not huge, but it is within the reach of most organizations and the number of empowered ones is growing fast.
Harnessing the Power of Big Interaction Data
An equally transformative power lies in new data sources, particularly Big Interaction Data. We are in the midst of an explosion of interaction data from social media, click streams, sensors and machines, call detail records and other sources. Unlike the transactional data that has been driving business processes for the past several decades, interaction data is unstructured and does not lend itself to processing in relational databases. And while transactional data started as a trickle and grew over time to a tsunami, interaction data has achieved tsunami status right out of the gate. It takes processing muscle to sift through and mine it for insights - cost-effective muscle like Hadoop environments and massively parallel processing databases. Similarly, it takes data integration muscle to manage, transform, and parse it for analytic and other processing.
Already, there are organizations in just about every industry sector, including the public sector, out in front of the pack in leveraging Big Interaction Data to attract and retain customers, more deeply and quickly understand their markets, and identify and influence their markets' influencers.
In order to gain business value from Big Interactive Data, organizations need... well, they need the "same old same old," but much, much more of it. In other words, you must have the facility to:
- Get the relevant information you need, regardless of diversity of format, volume, location, or time scale (from years to micro-seconds).
- Trust the data you will use to drive your business decisions and operations.
- Combine traditional and non-traditional data sources in new and innovative ways to drive new insights and power business processes.
- Reduce risk and improve compliance via real-time data.
This means investing in solutions that deliver trusted data on any scale, leveraging adaptive data services to meet the business needs of all projects as well as self-service integration that empowers users to obtain the information they need while IT remains in control.
While this sounds like a big order, the solutions to meet it are available. They have been for years, handling more conventional (by current standards) data management tasks, but ready and proven to scale to handle today's and tomorrow's non-conventional opportunities for maximizing the return on data.
For IoT to grow as quickly as analyst firms’ project, a lot is going to fall on developers to quickly bring applications to market. But the lack of a standard development platform threatens to slow growth and make application development more time consuming and costly, much like we’ve seen in the mobile space. In his session at @ThingsExpo, Mike Weiner, Product Manager of the Omega DevCloud with KORE Telematics Inc., discussed the evolving requirements for developers as IoT matures and conducted a live demonstration of how quickly application development can happen when the need to comply wit...
Jul. 31, 2015 08:45 AM EDT Reads: 302
Explosive growth in connected devices. Enormous amounts of data for collection and analysis. Critical use of data for split-second decision making and actionable information. All three are factors in making the Internet of Things a reality. Yet, any one factor would have an IT organization pondering its infrastructure strategy. How should your organization enhance its IT framework to enable an Internet of Things implementation? In his session at @ThingsExpo, James Kirkland, Red Hat's Chief Architect for the Internet of Things and Intelligent Systems, described how to revolutionize your archit...
Jul. 30, 2015 07:30 PM EDT Reads: 1,401
SYS-CON Events announced today that HPM Networks will exhibit at the 17th International Cloud Expo®, which will take place on November 3–5, 2015, at the Santa Clara Convention Center in Santa Clara, CA. For 20 years, HPM Networks has been integrating technology solutions that solve complex business challenges. HPM Networks has designed solutions for both SMB and enterprise customers throughout the San Francisco Bay Area.
Jul. 30, 2015 03:45 PM EDT Reads: 453
MuleSoft has announced the findings of its 2015 Connectivity Benchmark Report on the adoption and business impact of APIs. The findings suggest traditional businesses are quickly evolving into "composable enterprises" built out of hundreds of connected software services, applications and devices. Most are embracing the Internet of Things (IoT) and microservices technologies like Docker. A majority are integrating wearables, like smart watches, and more than half plan to generate revenue with APIs within the next year.
Jul. 30, 2015 02:30 PM EDT Reads: 104
The Internet of Everything (IoE) brings together people, process, data and things to make networked connections more relevant and valuable than ever before – transforming information into knowledge and knowledge into wisdom. IoE creates new capabilities, richer experiences, and unprecedented opportunities to improve business and government operations, decision making and mission support capabilities.
Jul. 30, 2015 01:45 PM EDT Reads: 270
Growth hacking is common for startups to make unheard-of progress in building their business. Career Hacks can help Geek Girls and those who support them (yes, that's you too, Dad!) to excel in this typically male-dominated world. Get ready to learn the facts: Is there a bias against women in the tech / developer communities? Why are women 50% of the workforce, but hold only 24% of the STEM or IT positions? Some beginnings of what to do about it! In her Opening Keynote at 16th Cloud Expo, Sandy Carter, IBM General Manager Cloud Ecosystem and Developers, and a Social Business Evangelist, d...
Jul. 30, 2015 12:00 PM EDT Reads: 2,058
In his keynote at 16th Cloud Expo, Rodney Rogers, CEO of Virtustream, discussed the evolution of the company from inception to its recent acquisition by EMC – including personal insights, lessons learned (and some WTF moments) along the way. Learn how Virtustream’s unique approach of combining the economics and elasticity of the consumer cloud model with proper performance, application automation and security into a platform became a breakout success with enterprise customers and a natural fit for the EMC Federation.
Jul. 30, 2015 09:00 AM EDT Reads: 2,160
The Internet of Things is not only adding billions of sensors and billions of terabytes to the Internet. It is also forcing a fundamental change in the way we envision Information Technology. For the first time, more data is being created by devices at the edge of the Internet rather than from centralized systems. What does this mean for today's IT professional? In this Power Panel at @ThingsExpo, moderated by Conference Chair Roger Strukhoff, panelists addressed this very serious issue of profound change in the industry.
Jul. 29, 2015 03:00 PM EDT Reads: 1,272
Discussions about cloud computing are evolving into discussions about enterprise IT in general. As enterprises increasingly migrate toward their own unique clouds, new issues such as the use of containers and microservices emerge to keep things interesting. In this Power Panel at 16th Cloud Expo, moderated by Conference Chair Roger Strukhoff, panelists addressed the state of cloud computing today, and what enterprise IT professionals need to know about how the latest topics and trends affect their organization.
Jul. 29, 2015 02:00 PM EDT Reads: 1,185
It is one thing to build single industrial IoT applications, but what will it take to build the Smart Cities and truly society-changing applications of the future? The technology won’t be the problem, it will be the number of parties that need to work together and be aligned in their motivation to succeed. In his session at @ThingsExpo, Jason Mondanaro, Director, Product Management at Metanga, discussed how you can plan to cooperate, partner, and form lasting all-star teams to change the world and it starts with business models and monetization strategies.
Jul. 28, 2015 04:30 PM EDT Reads: 1,763
Converging digital disruptions is creating a major sea change - Cisco calls this the Internet of Everything (IoE). IoE is the network connection of People, Process, Data and Things, fueled by Cloud, Mobile, Social, Analytics and Security, and it represents a $19Trillion value-at-stake over the next 10 years. In her keynote at @ThingsExpo, Manjula Talreja, VP of Cisco Consulting Services, discussed IoE and the enormous opportunities it provides to public and private firms alike. She will share what businesses must do to thrive in the IoE economy, citing examples from several industry sectors.
Jul. 28, 2015 11:00 AM EDT Reads: 2,042
There will be 150 billion connected devices by 2020. New digital businesses have already disrupted value chains across every industry. APIs are at the center of the digital business. You need to understand what assets you have that can be exposed digitally, what their digital value chain is, and how to create an effective business model around that value chain to compete in this economy. No enterprise can be complacent and not engage in the digital economy. Learn how to be the disruptor and not the disruptee.
Jul. 27, 2015 10:00 AM EDT Reads: 2,029
Akana has released Envision, an enhanced API analytics platform that helps enterprises mine critical insights across their digital eco-systems, understand their customers and partners and offer value-added personalized services. “In today’s digital economy, data-driven insights are proving to be a key differentiator for businesses. Understanding the data that is being tunneled through their APIs and how it can be used to optimize their business and operations is of paramount importance,” said Alistair Farquharson, CTO of Akana.
Jul. 27, 2015 09:00 AM EDT Reads: 324
Business as usual for IT is evolving into a "Make or Buy" decision on a service-by-service conversation with input from the LOBs. How does your organization move forward with cloud? In his general session at 16th Cloud Expo, Paul Maravei, Regional Sales Manager, Hybrid Cloud and Managed Services at Cisco, discusses how Cisco and its partners offer a market-leading portfolio and ecosystem of cloud infrastructure and application services that allow you to uniquely and securely combine cloud business applications and services across multiple cloud delivery models.
Jul. 27, 2015 08:00 AM EDT Reads: 1,903
The enterprise market will drive IoT device adoption over the next five years. In his session at @ThingsExpo, John Greenough, an analyst at BI Intelligence, division of Business Insider, analyzed how companies will adopt IoT products and the associated cost of adopting those products. John Greenough is the lead analyst covering the Internet of Things for BI Intelligence- Business Insider’s paid research service. Numerous IoT companies have cited his analysis of the IoT. Prior to joining BI Intelligence, he worked analyzing bank technology for Corporate Insight and The Clearing House Payment...
Jul. 26, 2015 09:00 PM EDT Reads: 1,573
"Optimal Design is a technology integration and product development firm that specializes in connecting devices to the cloud," stated Joe Wascow, Co-Founder & CMO of Optimal Design, in this SYS-CON.tv interview at @ThingsExpo, held June 9-11, 2015, at the Javits Center in New York City.
Jul. 25, 2015 02:00 PM EDT Reads: 390
SYS-CON Events announced today that CommVault has been named “Bronze Sponsor” of SYS-CON's 17th International Cloud Expo®, which will take place on November 3–5, 2015, at the Santa Clara Convention Center in Santa Clara, CA. A singular vision – a belief in a better way to address current and future data management needs – guides CommVault in the development of Singular Information Management® solutions for high-performance data protection, universal availability and simplified management of data on complex storage networks. CommVault's exclusive single-platform architecture gives companies unp...
Jul. 25, 2015 01:00 PM EDT Reads: 1,957
Electric Cloud and Arynga have announced a product integration partnership that will bring Continuous Delivery solutions to the automotive Internet-of-Things (IoT) market. The joint solution will help automotive manufacturers, OEMs and system integrators adopt DevOps automation and Continuous Delivery practices that reduce software build and release cycle times within the complex and specific parameters of embedded and IoT software systems.
Jul. 25, 2015 12:15 PM EDT Reads: 461
"ciqada is a combined platform of hardware modules and server products that lets people take their existing devices or new devices and lets them be accessible over the Internet for their users," noted Geoff Engelstein of ciqada, a division of Mars International, in this SYS-CON.tv interview at @ThingsExpo, held June 9-11, 2015, at the Javits Center in New York City.
Jul. 25, 2015 12:00 PM EDT Reads: 1,536
Internet of Things is moving from being a hype to a reality. Experts estimate that internet connected cars will grow to 152 million, while over 100 million internet connected wireless light bulbs and lamps will be operational by 2020. These and many other intriguing statistics highlight the importance of Internet powered devices and how market penetration is going to multiply many times over in the next few years.
Jul. 25, 2015 09:00 AM EDT Reads: 1,488