Building an Analytics-driven Enterprise to Monetize Data
Can your organization identify and predict new business trends and changing customer expectations?
How do you leverage these predictions to maximize revenue and optimize service?
Is your analytics engine delivering insights that help you increase efficiency, predict risk and reduce costs?
Enterprises, globally, recognize the explosion of data in the new-age ecosystem they operate in, which is marked by always-on-connectivity, internet-of-things applications, and mobility. The duality of this ever-growing data is that it is as much an opportunity as it is a challenge. The growing number of new sources of data, which comes at great pace, high volumes, and unstructured forms pose challenges. The opportunities it presents at the same time is immense when the explosive data is leveraged fully. It enables enterprises to find new opportunities, create new game-changing phenomena, discover new possibilities and stay ahead of competition.
Infosys Data Analytics envisions an analytics-driven enterprise to deal with the data duality. An analytics-driven enterprise overcomes challenges in the new-age-data-ecosystem through the most effective combination of people, process, and technology elements that support its data-analytics initiatives. An analytics-driven enterprise is also able to uncover the potential that data possesses in its entirety to the extent that it is able to monetize data. Infosys Data Analytics envisages enterprises to monetize data through the following levers:
Customer Intimacy: by delivering delightful customer experiences driven by actionable insights that ensure revenue upside for the enterpriseOperational efficiency and risk management: higher efficiency through automation and insights-driven operations, and prevention of risk across the business value chain through predictive insights, which help reduce costs and in turn offer monetary gain for the enterpriseNew revenue streams: by enabling enterprises to convert data into strategic assets that create new revenue models
Strategic Approach to Monetize Data
The strategic approach addresses three key imperatives of data provisioning, data consumption and the organization culture that binds them together within the enterprise.
boundaryless information platform, which brings in a solution-perspective, enables effective data provisioning across the enterprise while accounting for the new-age data landscape marked by high volumes, varieties and sources. It also breaks down physical, technological and organizational boundaries that are inadvertently created within the enterprise and presents the right data to the right people at the right time.
progressive organization establishes a data-driven culture, bringing business and IT together, to ensure maximum output from data-analytics initiatives. The holistic approach caters to the existing people, process and technology investments in the enterprise, transforms it to become analytics-driven and enables the enterprise to monetize data.
pervasive analytics pillar is built with a data consumption purpose. It enables self-service, embeds analytics into key functions and processes, and automates insights-generation for informed business decision-making, in real-time or ahead-of-time.
Snippets of successful Data Monetization engagements
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