How an industry-aware analytics platform improves business insights
Organizations across the globe are struggling to drive down operational costs while improving consumer engagement and improving profitability.
IT directors and chief data officers are under pressure to provide business insight from the data within the enterprise. Vertical industries are experiencing disruptions from technology innovations including cloud, Internet of Things (IoT), microservices, and containerization while businesses scramble to make use of these technologies in meaningful ways.
In pursuing these aims, many organizations have launched programs for point analytic systems, IT modernization and data consolidation projects. They have moved data to the cloud and created data lakes and discovery zones. But without a trusted analytics data foundation, these measures aren't providing the insights organizations need to deliver better business outcomes, gain deeper customer awareness or drive process change for operational efficiency.
Technology hype and fads
As IT spending in many key industries — healthcare, telecommunicaitons, retail, energy and utilities, banking, financial markets, insurance — continues to trend upward, there is a risk that the disillusionment with ROI will also trend upward. Many enterprises have already shelved their IT modernization projects after many millions of dollars and many months — often a year or more — are wasted with no real value coming from the technology investment.
One of the first things that I like to do with clients is to dispel any erroneous assumptions they may have formed about how to achieve business insights:
- Point analytic solutions help to scratch an immediate itch, but they do not scale, nor do they help identify or resolve “problem data.” In other words, they are only as good as the data they are fed.
- Data lakes and discovery zones are very useful, but only if they are governed.
- IT modernization without an enterprise data strategy is a costly mistake.
- Integrated, curated and governed data is a prerequisite to enterprise analytics, artificial intelligence and self-service analytics.
How do I get there?
IBM has always been a solution company that brings together technology and data coupled with world class services to make clients successful. This is why so many organizations have turned to IBM, to take advantage of deep-industry experience developed from thousands of engagements over many years.
Using IBM Industry Models and the Unified Governance & Integration platform, large and small enterprises with some of the most complex IT and data environments can collect, integrate and govern their operational data, customer data, supply chain data and more.
By building an integrated, governed, industry-aware analytic data platform, organizations can gain a longitudinal view of their customers and create reliable analytics and governed data lakes that drive self-service analytics. With these insights, an enterprise can identify actions needed to drive down their operational costs as well as improve consumer engagement and overall profitability.
Learn how you can provide high quality, trusted data for all data users within your enterprise, by watching webinar “Are you creating Data Lakes or Data Swamps?”