Analytics & Marketing Metrics

Feeding the Big Data Supply Chain

A piece of data in isolation is basically useless, just like a clump of iron dug out of the earth. But when you process iron for a specific purpose, it suddenly has great utility, and the same can be said of data. H. O. Maycotte writes for Forbes about the big data supply chain, and how feeding it can be good for business.

Tastes like Silicon

Where and how to store data used to be a problem, but those days are already long gone. Now the challenge is finding the link between stored data and applications that automate and take action, a concern which Maycotte believes both CIOs and CMOs should want to tackle. This is because it will grant the C-suite the power to try new vendors while retaining a direct connection to customer data.

In a nutshell, the hat trick is to be able collect data from a wealth of useful sources (websites, social networks, mobile apps, etc.), while simultaneously having the business intelligence tools to unify it into actionable business insights. Maycotte goes on to say:

For most companies, customer data is scattered across silos of information that can make it difficult to access, much less integrate into a cohesive whole. And the more data there is, and the more sources it comes from, the more of a challenge bringing it together is going to be. But you have to be able to do just that if you want to provide a rich data set that analytics can transform into actionable insights. This is done with a technology platform designed to unify data across multiple systems that can send customer data both in and out.

I think proper application of context to a data set also adds an extra wrinkle to the complexities at work, as if collection and processing of data was not tricky enough on its own. But I am sure you will figure it out. You can read the original article here: http://www.forbes.com/sites/homaycotte/2015/03/18/the-big-data-supply-chain-is-hungry-and-you-need-to-feed-it/

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