The theme of the roadshow is centered around solving the return on data equation which Informatica defines as the value of data divided by the cost of data:
Return on Data = Value on Data / Cost of Data
Specifically I am talking about how this applies to what is quickly becoming the most important and fastest growing data domain – “Big Interaction Data”. It is your customers’ blogs and tweets, your competitors pricing information and the data on your partners’ portals. It is unstructured, rapidly changing and provides unique insights that can turn your company into the market leader.
From being almost non-existing a few years back, Big Interaction Data is today growing explosively, with most of that happening on the internet and available as “Web Data”. My previous blog Dynamic pricing with automated competitive price monitoring provides a good example of how the use of Interaction Data can create huge differentiation, drive topline growth and turn companies into winners in their industry.
For many, understanding the huge importance of Big Interaction Data is just in its infancy, but I can assure you this is quickly changing. In my presentation, I give a few other examples of how companies leverage Interaction data. One example is about, Fiserv, a large financial services company who had to monitor point-in-time cash position across 300 partner banks for regulatory compliance. They had no other way of getting the data other than manually logging in to 300 portals and retrieving bank balances. Being able to get this type of data in an automated way was game changing for this organization. So as you can see Big Interaction Data is far more than just social media and provides significant value.
The other side of the equation is the “Cost of Data”. If the data is impossible to get, or very expensive to get, or cheap but out-of-date, then the return will be lower.
The most successful companies will be the ones that put data first, the most relevant data, and leverage technologies to get all that data at a low cost – in real-time.
Here is a snippet video of the presentation I gave in New York earlier this month:
On November 7th I will be presenting again in Atlanta, but you can also meet my colleagues at the San Francisco event on the same day. I will also be speaking in Dallas on November 13th if you happen to be in that area.
Come see me and let’s discuss the topic.