Ramya Krishnan, Reltio
Meeting an old friend is always a pleasure. A cozy coffee shop, peaceful mid-morning, and genuine casual talk. Though Janine didn’t seem all that relaxed, and when asked, she mentioned that at her workplace data processing seems to go on and on.
“But didn’t your pharmaceutical company initiated digital transformation recently?”
“Yeah, and while we got a handle on our internal data, it is the third-party data that is all over the place.” She lamented. “We subscribe to a number of services and we always need updated data. Regulations, compliance, market-watch, you know that. But we don’t seem to complete a cycle of data processing when the next batch is already there!”
I smiled and reassured her, “I have a solution for all your data woes.”
“You do?” Janine was surprised.
“Yes. When modern businesses prioritize their digital transformation activities, the biggest challenge they face is taming their data. If you expect data as the new sunshine to power your business decisions, it is effective only when clean, compliant, and available in real time.”
“True.” She agreed.
“Managing internal data is today somewhat straightforward with multiple solutions available in the market. On the other hand, onboarding and blending external or third-party data is always fraught with a tedious and costly process. The third-party subscribed data typically arrives in batch files, goes through ETL, gets the quality refined through the provider support, and a new cycle gets initiated for the next batch. Resource-intensive and time-consuming, managing third-party data is needlessly complicated.”
“Yeah, that is what I was talking about. But you said you have a solution.”
“It’s DaaS. Data-as-a-Service. It is a much more efficient approach for companies to access real-time data streams including their own distributed internal data assets, from anywhere in the world and from any device. DaaS can deliver consistent data quality and agility at a very affordable price tag.”
“So I’ll always have the external updated data on tap?” Janine brightened.
“Yes. And with a much less bother. Moreover, DaaS will help you with rapid development of data-driven applications. Because all the data is always there whenever you need it.”
“It is. The key driver for investing in DaaS is pre-aggregated reliable data for quicker and better informed decisions. What’s more, if you have distributed data centers, it actually helps with internal data as well.”
“And Reltio does it?”
“Yes! In fact, Reltio’s real-time access to data providers and industry sources delivers much more with pre-built integration and on-demand search with a single-click customized business rules-based approach. As the data provider updates are propagated automatically to its application, your data search is always in real-time. Reltio continuously partners with new data providers and can add new providers quickly, ensuring that you always get to choose more providers for improving their decision making.”
“I definitely want to go for that.”
“Janine, with Reltio DaaS, you can also do testing of the data providers with their internal data much easily and see how much of value the data adds incrementally. Like number of overlaps, or number of net new, or quality of data. This will help you simplify and take a data driven approach in selecting the data vendors.”
“That is the best thing I heard this morning!”
“There’s more. Reltio’s modern and scalable platform guarantees performance at big data scale. The rich UI helps business users with quick data discovery. And guess what, your IT staff will be happy with tracking data access and consumption, not to mention the security certifications like HITRUST and GDPR. “
“Well, I certainly learned a lot from this coffee session,” Janine gushed. “Can’t wait to get all our third-party data sorted.”
“And with DaaS you can monetize it, too. But for that you have to meet me again for another coffee!