There is a lot of buzz around Big Data, its benefits and it being essential for digital transformation and performance. However, traditionally an organization’s data is stored in contextual information silos. These silos are accessed and used by their respective stakeholders, but rarely are they connected. More and more organizations are tracking customer behaviours, internal processes and are collecting data at all digital access points. Additionally, many of them, especially in the healthcare space, purchase large sets of data for further external insights. Siloing of data bears the risk of an organization being data rich, but insight poor. This is especially true when external and internal data cannot be brought into context.
Here are some insights about connecting data silos:
1. Why connect?
Connecting all data silos gives you a digital replica of your business. Your business is like a living organism. It strives or fails based on the performance and impact of every process up and down the value chain. Diagnostics, like in medicine, mechanics or in business rely on the interconnection and contextual information of one process to another. Connecting internal and external data silos, enables context, root cause and insight for business leaders to plan their organization's future.
2. No need to be big for Big Data
Big organizations generate huge amounts of Big Data, but realistically an organization's size size is not important. In fact, most often, size gets in the way of acting upon insights with agility. Being small or medium sized makes your ability to act on data insights far better than that of large competitors. This is due to your businesses agility, lack of large organizational challenges, and cultural hurdles. Smaller size is a Big Data opportunity to leap frog over the competition. Leverage insights and act upon them quickly.
3. Simulate and predict impact
When all data is connected, root cause of any pattern, behaviour, problem or advantage can be discovered. Additionally impact and effect of changing measures can be simulated and predicted. Why do Pilots train many hours in a flight simulator before they take on passengers? Because failure can cost lives. Likewise in business failures can be prevented, when simulation and prediction are possible. Train for your real life business challenges by using Big Data and AI and by seeing all actions in context. By looking at the complete data reality of an organization, risks, as well as opportunities become transparent. They can then can be simulated, predicted and acted upon.
4. Improve and automate operations
Many of today’s business processes still rely on rather archaic tools and methods. We call "humans plus excel" one of the greatest hurdles for organizational growth. It makes processes slow, hard to transfer from one employee or department to another and prone to mistakes. Connecting data silos can give valuable insight into processes which should be automated to eliminate errors and optimize results. A connected, healthy data hub enables AI, Machine Learning (ML) and intelligent process automation to boost performance.
5. Don’t miss the bus
To start utilizing Big Data, AI, Machine Learning and Intelligent Process Automation, healthy connected data is the basic building block. Without it, all data driven digital transformation efforts are ill prepared and might as well be built on sand. By creating a robust, healthy, compliant, multi-purpose data-hub you are putting yourself in a competitive spot for data driven transformation. This data hub lives and grows with your organization and its data assets.
Contact us at firstname.lastname@example.org for more info on connecting data silos.