Tag Archives: Informatica Intelligent Data Platform
Data has always played a key role in informing decisions – machine generated and intuitive. In the past, much of this data came from transactional databases as well as unstructured sources, such as emails and flat files. Mobile devices appeared next on the map. We have found applications of such devices not just to make calls but also to send messages, take a picture, and update status on social media sites. As a result, new sets of data got created from user engagements and interactions. Such data started to tell a story by connecting dots at different location points and stages of user connection. “Internet of Things” or IoT is the latest technology to enter the scene that could transform how we view and use data on a massive scale.
Does IoT present a significant opportunity for companies to transform their business processes? Internet of Things probably add an important awareness veneer when it comes to data. It could bring data early in focus by connecting every step of data creation stages in any business process. It could de-couple the lagging factor in consuming data and making decisions based on it. Data generated at every stage in a business process could show an interesting trend or pattern and better yet, tell a connected story. Result could be predictive maintenance of equipment involved in any process that would further reduce cost. New product innovations would happen by leveraging the connectedness in data as generated by each step in a business process. We would soon begin to understand not only where the data is being used and how, but also what’s the intent and context behind this usage. Organizations could then connect with their customers in a one-on-one fashion like never before, whether to promote a product or offer a promotion that could be both time and place sensitive. New opportunities to tailor product and services offering for customers on an individual basis would create new growth areas for businesses. Internet of Things could make it a possibility by bringing together previously isolated sets of data.
Recent Economist report, “The Virtuous Circle of Data: Engaging Employees in Data and Transforming Your Business” suggests that 68% of data-driven businesses outperform their competitors when it comes to profitability. 78% of those businesses foster a better culture of creativity and innovation. Report goes on to suggest that 3 areas are critical for an organization to build a data-driven business, including data supported by devices: 1) Technology & Tools, 2) Talent & Expertise, and 3) Culture & Leadership. By 2020, it’s projected that there’ll be 50B connected devices, 7x more than human beings on the planet. It is imperative for an organization to have a support structure in place for device generated data and a strategy to connect with broader enterprise-wide data initiatives.
A comprehensive Internet of Things strategy would leverage speed and context of data to the advantage of business process owners. Timely access to device generated data can open up the channels of communication to end-customers in a personalized at the moment of their readiness. It’s not enough anymore to know what customers may want or what they asked for in the past; rather anticipating what they might want by connecting dots across different stages. IoT generated data can help bridge this gap.
How to Manage IoT Generated Data
More data places more pressure on both quality and security factors – key building blocks for trust in one’s data. Trust is ideally truth over time. Consistency in data quality and availability is going to be key requirement for all organizations to introduce new products or service differentiated areas in a speedy fashion. Informatica’s Intelligent Data Platform or IDP brings together industry’s most comprehensive data management capabilities to help organizations manage all data, including device generated, both in the cloud and on premise. Informatica’s IDP enables an automated sensitive data discovery, such that data discovers users in the context where it’s needed.
Cool IoT Applications
There are a number of companies around the world that are working on interesting applications of Internet of Things related technology. Smappee from Belgium has launched an energy monitor that can itemize electricity usage and control a household full of devices by clamping a sensor around the main power cable. This single device can recognize individual signatures produced by each of the household devices and can let consumers switch off any device, such as an oven remotely via smartphone. JIBO is a IoT device that’s touted as the world’s first family robot. It automatically uploads data in the cloud of all interactions. Start-ups such as Roost and Range OI can retrofit older devices with Internet of Things capabilities. One of the really useful IoT applications could be found in Jins Meme glasses and sunglasses from Japan. They embed wearable sensors that are shaped much like Bluetooth headsets to detect drowsiness in its wearer. It observes the movement of eyes and blinking frequency to identify tiredness or bad posture and communicate via iOS and android smartphone app. Finally, Mellow is a new kind of kitchen robot that makes it easier by cooking ingredients to perfection while someone is away from home. Mellow is a sous-vide machine that takes orders through your smartphone and keeps food cold until it’s the exact time to start cooking.
Each of the application mentioned above deals with data, volumes of data, in real-time and in stored fashion. Such data needs to be properly validated, cleansed, and made available at the moment of user engagement. In addition to Informatica’s Intelligent Data Platform, newly introduced Informatica’s Rev product can truly connect data coming from all sources, including IoT devices and make it available for everyone. What opportunity does IoT present to your organization? Where are the biggest opportunities to disrupt the status quo?
After I graduated from business school, I started reading Fortune Magazine. I guess that I became a regular reader because each issue largely consists of a set of mini-business cases. And over the years, I have even started to read the witty remarks from the managing editor, Andy Serwer. However, this issue’s comments were even more evocative than usual.
Connectivity is perhaps the biggest opportunity of our time
Andy wrote, “Connectivity is perhaps the biggest opportunity of our time. As technology makes the world smaller, it is clear that the countries and companies that connect the best—either in terms of, say traditional infrastructure or through digital networks are in the drivers’ seat”. Andy sees differentiated connectivity as involving two elements–access and content. This is important to note because Andy believes the biggest winners going forward are going to be the best connectors to each.
Enterprises need to evaluate how the collect, refine, and make useful data
But how do enterprises establish world class connectivity to content? I would argue–whether you are talking about large or small data—it comes from improving an enterprise’s abiity collect, refine, and create useful data. In recent CFO research, the importance of enterprise data gathering capabilities was stressed. CFOs said that their enterprises need to “get data right” at the same time as they confirmed that their enterprises in fact have a data issue. The CFOs said that they are worried about the integrity of data from the source forward. And once they manually create clean data, they worry about making this data useful to their enterprises. Why does this data matter so much to the CFO? Because as CFOs get more strategic, they are trying to make sure their firms drive synergies across their businesses.
Business need to make sense of data and get it to business users faster
One CFO said it this way, “data is potentially the only competitive advantage left”. Yet another said, “our businesses needs to make better decisions from data. We need to make sense of data faster.” At the same time leading edge thinkers like Geoffrey Moore has been suggesting that businesses need to move from “systems of record” applications to “system of engagement” applications. This notion suggests the importance of providing more digestible apps, but also the importance of recognizing that the most important apps for business users will provide relevant information for decision making. Put another way, data is clearly becoming fuel to the enterprise decision making.
“Data Fueled Apps” will provide a connectivity advantage
For this reason, “data fueled” apps will be increasingly important to the business. Decision makers these days want to practice “management by walking around” to quote Tom Peter’s Book, “In Search of Excellence”. And this means having critical, fresh data at their fingertips for each and every meeting. And clearly, organizations that provide this type of data connectivity will establish the connectivity advantage that Serwer suggested in his editor comments. This of course applies to consumer facing apps as well. Server, also, comments on the impacts of Apple and Facebook. Most consumers today are far better informed before they make a purchase. The customer facing apps, for example Amazon, that have led the way have provided the relevant information for the consumer to inform them on their purchase journey.
Delivering “Data Fueled Apps” to the Enterprise
But how do you create the enterprise wide connectivity to power the “Data Fueled Apps?” It is clear from the CFOs comments work is needed here. That work involves creating data which is systematically clean, safe, and connected. Why does this data need to be clean? The CFOs we talked to said that when the data is not clean then they have to manually massage the data and then move from system to system. This is not providing the kind of system of engagement envisioned by Geoffrey Moore. What this CFO wants to move to a world where he can access the numbers easily, timely, and accurately”.
Data, also, needs to be safe. This means that only people with access should be able to see data whether we are talking about transactional or analytical data. This may sound obvious, but very few isolate and secure data as it moves from system to system. And lastly, data needs to be connected. Yet another CFO said, “the integration of the right systems to provide the right information needs to be done so we have the right information to manage and make decisions at the right time”. He continued by saying “we really care about technology integration and getting it less manual. It means that we can inspect the books half way through the cycle. And getting less manual means we can close the books even faster. However, if systems don’t talk (connect) to one another, it is a big issue”.
Finally, whether we are discussing big data or small data, we need to make sure the data collected is more relevant and easier to consume. What is needed here is a data intelligence layer provides easy ways to locate useful data and recommend or guide ways to improve the data. This way analysts and leaders can spend less time on searching or preparing data and more time on analyzing the data to connect the business dots. This can involve mapping data relationship across all applications and being able to draw inferences from data to drive real time responses.
So in this new connected world, we need to first set up a data infrastructure to continuously make data clean, safe, and connected regardless of use case. It might not be needed to collect data, but the data infrastructure may be needed to define the connectivity (in the shape of access and content). We also need to make sure that the infrastructure for doing this is reusable so that the time from concept to new data fueled app is minimized. And then to drive informational meaning, we need to layer on top the intelligence. With this, we can deliver “data fueled apps” that enable business users the access and content to drive better business differentiation and decisioning!
Master data management (MDM) has come a long way in the past decade or so. When I was supporting my company’s customer master implementation back in 2001, my management was thrilled to simply have a customer master that brought a bit of order to the chaos sharing customer data between our CRM and ERP applications and downstream into our marketing data warehouse.
Fast forward to 2014 and mastering customer data alone is often table stakes for leadership trying to transform their business from a product- or account-centric to a customer-centric organizations.
Here at Informatica, we’ve seen over 75% of our MDM customers in the past year purchase for multidomain use cases – meaning the scope of their initiative often spans mastering data such as Customers, Suppliers and Products as part of a coordinated effort. These organizations have built compelling business cases to demonstrate that mastering multiple domains – and the relationships among those domains – is necessary. Only a true 360 degree view of relationships among any data can provide the necessary insights to deliver on the desired operational efficiencies, optimized customer experiences, and growth objectives for their companies.
The progress we’ve all made in multidomain MDM is impressive, but it’s just scratching the surface of what’s possible. What happens when MDM meets Cloud, Social, the Internet of Things and other master data enrichment sources such as D&B and Acxiom? Dennis Moore, Informatica’s GM and SVP for MDM, envisions that a new “Internet of Master Data” will be formed that can include a massive new set of sensor and social data which it leverages to infer and recommend a new class of relationship insights. For example, in addition to sentiment and relationships from social networks, location data from mobile devices and sensors can now inform customer – and product – behaviors that span beyond direct transactions and interactions within your traditional business applications.
Those of you who have invested in building a foundation of clean, consistent and connected data have a huge advantage as the value of MDM grows exponentially with the exponential growth of data. You are well-positioned to take advantage of the deeper insights and potential innovations now possible by adding Cloud, Social, and Machine data to optimizing analytics and operations.
This week at Informatica World 2014 in Las Vegas, we kicked off with our fantastic MDM Day pre-conference event with over 500 attendees. During the event, we shared some early insights into our MDM 10 release planned for later this year which integrates the Informatica Vibe engine and incorporates other elements of the just unveiled Informatica Intelligent Data Platform vision to make it easier for customers to gain a 360 degree view of their most critical business entities, including customers, suppliers, products and assets.
We continue to be inspired by our awesome MDM customers and partners, and we’re excited to see what they can do to harness the power of the Internet of Master Data!