In our previous posts we explained that data lurking in your enterprise may have unrealized value. Then we described a few actions that could be taken to transform the data into more usable form. This post discusses how to reap the value from those actions.
Realizing value from your transformed enterprise data:
Provide context to current billing or report values (like the utility bills that show past years energy usage, compare to other profiles of use of like customers, and value with normalized usage patterns) [comparisons of past, present, predicted]
Arm sales and marketing with deeper quantitative profiles and analysis to negotiate with customers [comparisons of external facts that drive customer uptake to drive deeper relationships]
Support management in selecting long term key enterprise relationships to be encouraged at the CEO and Board levels [focus management attention and relationships to boost sales and get thru problems]
Relate older data with external events and logistical data to build an understanding of events such as weather, shipping disruptions, or events on operational patterns [build internal understanding of drivers (such as religious events, alternate calendars, and weather impacts) to strengthen forecast/prediction accuracy]
Simply/lower costs for other ‘big data’ or ‘AI pipeline’ operations
The key element is to look for realizing value from what has already been curated. Much new “big data” has far higher error rates and less confidence. To anchor value in new systems the quality of ‘legacy data’ can be used.
In our last post we’ll consider leveraging storage technology to reap value from Enterprise Data.
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