It is estimated that the digital universe is made up of around 3.2 Zettabytes of data and it is expected to increase to 40 Zettabytes in the next 6 years.
What is the biggest barrier to successful digital transformation?
People everywhere are using the Internet for entertainment, shopping, socialising and household management. How can businesses take advantage of the opportunity to innovate, differentiate and grow? And how can they do all this cost effectively, leveraging and optimising the newest information technologies as part of their overall physical operations?
The biggest companies focus on two actions: reconsidering and reshaping customer value proposition and transforming their operations using digital technologies.
Strategic paths to transformation
According to the researches carried out in different sectors, the actions to be taken for digital transformation can be summarised by four basic approaches:
• Focusing on customer value propositions
• Transforming the operating model
• Combining those two approaches by simultaneously transforming the customer value proposition and organising operations for delivery
• Converting customer data to be a valuable asset
Today companies will not start their digital transformation journey from zero point. Although companies are attempting to keep up with the digitisation and digital transformation of their operations, changing customer experiences and expectations do not allow companies time to pause.
Organisations collect data from every channel to understand their customers and to create behavioural models, but a lack of proper data management can saddle organisations with incompatible data silos, inconsistent data sets and data quality problems that limit their ability to run business intelligence (BI) and analytics applications — or, worse, lead to faulty findings. By using proper digital solutions, it is possible to convert customer data to asset.
• Companies do not know what kind of customer data they have
• To maintain peak response times across this expanding tier, organisations need to continuously monitor the type of questions the database is answering and change the indexes as the queries change—without affecting performance
• Companies should regularly check that customer data complies with rules and changing laws
• Data collection and storage methods change every day. As companies are aware of the changing world, an organisation’s data scientists need a way to quickly and easily transform data from its original format into the shape, format, or model they need it to be in for a wide array of analyses
In a day, 2.5 quintillion bytes of data is created, and this is an indication that 90% of the data has been created in the last two years.
Google receives massive data and the platform processes more than 24 petabytes of data each day.Individuals create around 70% of the data and organisations only analyze 12% of this data.
In short, unstructured data is an obstacle for digital transformation. With the solutions we offer, we turn the ‘data management challenge’ into a competitive advantage.
How it works?
1. Capture Any type of document, from any source
2. Classify Content accurately with supervised machine learning
3. Extract Metadata from documents
4. Validate Results, including receiving alerts on errors and exceptions
5. Deliver Data automatically to your ERP, CRM, RPA and other LOB apps
