Clean Data – A Precious Resource for Fostering Next Generation Innovation
Several Technology & Innovation leaders from a range of industries such as retail, healthcare, financial services and media & entertainment came together at the CTO Summit held at San Francisco. They discussed ways to maximize efficiency, connectivity and brand loyalty by leveraging data & technology.
Maria Belousova, CTO at GrubHub, shared deep insights into running a hyperlocal, data-driven business at scale and how their semantic graph of menu items allows them to make Amazon like recommendations for their diners. Xavi Cortadellas, Head of Innovation & Design at Gatorade, talked about personalization of hydration drinks for athletes based on how much they sweat and how salty (electrolytic) their sweat is! J. S. Rumsfeld, Chief Innovation Officer, American College of Cardiology, made a strong case for Data Science & Care Delivery teams to work in tandem to make a real difference in patient’s life. Jonathan Reichental, CIO, City of Palo Alto, delivered an inspiring talk on building connected & sustainable cities.
What’s common among all these use cases is that they all are data-driven consumer applications. The advent of “Digital” and “Big Data” dramatically changed what data-driven applications could mean for consumers at large. A Modern Data Management platform not only provides a reliable data foundation for such consumer applications by making clean and secure data available but also delivers connected data with relevant insights and recommended actions, fostering inter-industry innovations.
Reliable data is table stakes for your business to be truly data-driven and innovative. A Modern Data Management platform allows you to cleanse, de-dupe, and consolidate data from multiple sources in one place and makes it accessible in real-time. It assigns ‘Data Quality Score’ to each managed data entity with real-time feedback through voting and helps continuously cleanse and correlate all data entities. Further, it helps prioritize resource allocation through consumer segmentation based on data quality.
Personal data is the new currency of the digital economy and thus needs to be better protected. A Cloud-based Modern Data Management platform has numerous security measures. All data is encrypted at rest and in motion with an option to Bring Your Own Encryption (BYOE) for further security and control. It provides fine-grained, attribute-level, visibility of who searched for, who looked at, and who modified what data, in logs that can be tracked, monitored for security and compliance.
Like graphs that power the most popular consumer data-driven applications such as LinkedIn (Economic Graph), Google (Knowledge Graph) and Facebook (Social Graph), a Modern Data Management Platform powers a new generation of data-driven applications using "Graph” technology that helps uncover one-to-one, one-to-many, and many-to-many connections among people, products, organizations, and locations. Built-in analytics combined with machine learning continuously show ROI and improve suggestions via dynamic correlation of interactions back to source data. Moreover, real-time configurable data model adapts to business needs, across any use case, for any industry, without tedious customizations.
Clean data is as important as clean water and consumers expect it to be delivered with just as much consistency and reliability. There is an astonishing amount of data at your fingertips – there will be 30 billion things connected to the internet by 2020. Unclean, unsecure, and siloed data can kill the next-gen innovation ecosystem. A Modern Data Management platform helps you to harness the power of your (and others’) data to catalyze all disruptive innovations and make your business truly customer-centric and profitable.