In observance of Friendship Day, we would like to point out how the qualities of a lasting friendship have much in common with the effects of well-managed data upon everyday life.
Can you prove the ROI of your data management efforts? Are you able to conquer the gap between your analytical insights and operational execution? Can your business teams leverage reliable data and relevant insights to solve their day-to-day challenges without compromising on scalability and performance? Are you able to implement a mix of defensive as well as offensive data strategies to meet your data security as well as personalization goals? If the answer is no to one or more of these questions, you must rethink (and reinvent) your data management philosophy.
My presentation at DBTA’s 2017 Data Summit conference. All enterprises want to understand their customers better so they can engage the right customer, at the right time, with the right offer, via the customer's preferred channel. With Reliable Data, Relevant Insights and Recommended Actions enabled by Modern Data Management, we can understand the customer better and provide more connected and personalized experiences.
It's easy to be seduced by the "black magic" of technology that can solve a variety of your business challenges by just asking Watson, Einstein, Siri, Alexa or even HAL, and other "humanizing" names. Beyond the hype, here are 3 critical ingredients that must be considered in order to be successful.
The value of reliable reference data cannot be undermined. Due to the nature of IT application development and the reliance upon off-the-shelf application systems, reference data is all too often isolated in silos within many different systems. Inconsistent reference data across multiple systems can cause invalid transactions, revenue leakages and compliance risks.
In a thought provoking article, Leandro DalleMule, CDO at AIG and Thomas H. Davenport, Professor at Babson College, and MIT Research fellow, pose the question "What's Your Data Strategy". Within the framework of defense and offense, the level of expertise, resources necessitate a split across both. This review of the article examines how a Modern Data Management Platform as a Service can help support both.
A Modern Data Management Platform lays the foundation for achieving: Right Living where patients are encouraged to play an active role in their own health by making the right choices about their lifestyle; Right Care where patients receive the most timely, appropriate treatment available; Right Provider where they have strong performance records and can achieve the best outcomes; Right Value where providers and payers continually look for ways to improve value while improving health-care quality; and Right Innovation where all stakeholders focus on identifying new therapies and approaches to health-care delivery.
The healthcare and life sciences track at Modern Data Management Summit 2017 invited industry leaders who shared thoughts on contemporary industry themes such as data-driven strategies to improve commercial effectiveness in life sciences, democratization of master data management (MDM) helping pre-commercial companies with faster product launches, insights-driven customer and patient engagement in healthcare, and real-time data enrichment with data as a service.
The inagural Modern Data Management Summit attracted more than 300 data management leaders and practitioners who came together to learn, share, and network.The cross-industry participation from life science, healthcare, media, high technology, automotive, financial services, and consulting gave participants an opportunity to learn from best practices outside their market. With 39 sessions in two days, the event was a cornucopia of knowledge.
Hadoop, HBase, Cassandra, Graph Databases, MapReduce, Spark and the continuous stream of new technologies have changed the way data can and should be managed. However stitching together all of the pieces required to have a complete end-to-end offering and support a wide variety of business needs across an enterprise is a complex undertaking. A Modern Data Management Platform helps you keep up with this evolving technology landscape and allow you to solve all your operational (as well as analytical) challenges faster and in a more agile manner.
To only see innovation as “a product” would be myopic. New services, processes, alliances, and business models equally contribute toward making a meaningful innovation ecosystem. However, there are 4 significant barriers to operational innovation namely - #1 Data Silos Within Organization. #2 Data Silos Across Organizations. #3 Rigid Data Model. #4 Unreliable & Out-of-Context Data. Data-driven applications built upon a Modern Data Management Platform help transcend these barriers and put all business users at the helm of growth, innovation, and digital transformation trajectory.