When the term ‘data management’ comes up, you may find yourself rolling your eyes, letting out a yawn or quickly looking away. It would be no surprise, considering all things data have long been linked with mundaneness and relegated to the job of administrators. But today, such an outlook should be left firmly in the past. Data now has the power to be an exciting part of what we all do.
There should be a sense of joy and excitement in mastering the disciplines of data architecture and governance. It is an enormous opportunity that creates exceptional value. Value that has been truly accelerated through artificial intelligence (AI) and machine learning (ML).
So, it’s high time to switch up our thinking and recognise that data is the fuel that drives success.
Through data management, data engineering and by leveraging AI and ML, enhanced governance, excellent security and data visualisation is achieved.
What is data management?
Data management involves every discipline that handles data in being made a valuable resource. Organising it to be leveraged as a prized asset is necessary in today’s business world. However, many organisations are not positioned to do this.
Master Data Management (MDM) can often be more aptly described as a Major Data Mess. This is because years of stockpiling data without a strategy has left things all over the place… and it’s time for a clean-up. Funnily enough, there is not much data on data management itself. Many organisations have no clue what they are spending on data. They’re too busy worrying about the next big thing rather than focusing on the gold mine they are already sitting on. The reason? Existing data systems are a tangled web of problems spread across different systems, often poorly labelled and stuck in local processes. It is time to make data more flexible and leverage it for business value.
The outcomes can be significant, but we do not want to sugarcoat it – so are the challenges.
According to the Acora ‘Joy of data management’ Slideshare – based on a data management opinion piece from CIO – data quality (59%), governance (48%), and aggregation (47%) are considered the biggest hurdles for organisations to overcome, and Acora is here to help.
By putting experience at the heart of everything we do, we go beyond our service level agreement to deliver what you truly need. This is exactly what resulted in us being named the UK’s #1 Managed Service Provider in 2022. We are proud of what we have achieved in helping organisations leverage the power of data, and here is just a snapshot of what we have delivered for some of our customers.
Enhanced customer experience and retention
Organisations are starting to appreciate the significance of data, and a resounding 76% of CIOs are using it to improve customer experience. We recently assisted an organisation in delivering a quicker and easier experience for its clients while increasing revenue and reducing call centre costs.
We made this happen by introducing scalable data platform architecture integrated with AI, automation, and a CRM foundation designed for growth. A holistic view of the customer journey was established by replacing old systems with a Data Lakehouse that included data engineering, analytics and ML. This resulted in a decreased basket abandonment rate and improved overall data governance.
For another of our clients, we improved customer retention by delivering sharper insights into customer churn risks and their lifetime value. The solution involved deploying a Machine Learning pipeline in Databricks for precise predictions and incorporating predictive analytics for actionable insights into customer behaviour. A modern Data Lakehouse was implemented to store and process vast customer data, providing one unified view that helped tailor a customer retention strategy.
Working faster and smarter
Other top use cases for data management are improving/automating processes, which 70% of CIOS are now actively doing. Additionally, 63% use it to adopt an AI strategy, while 62% utilise it for monitoring system health and performance. This means not only making those vital decisions faster but also reducing costs by using resources smarter.
We recently empowered a client with the ability to make swifter data-driven business decisions through a simplified data architecture and the utilisation of data modelling in Power BI. This resulted in the development of a key performance dashboard, providing the executive team with a comprehensive view of operations and the ability to make strategic decisions.
We used the power of data to improve overall business performance for another client, in turn reducing operation costs. This was again achieved through a unified data platform that delivered robust security measures and compliance, real-time data analytics, predictive maintenance and leveraging the full potential of data from the Internet of Things.
It is essential to draw inspiration from these use cases and be motivated to tidy up your data – for AI to ML to work efficiently, you must get your house in order. Consider it as a valuable asset already in your possession. By prioritising its cleanliness, you can remain competitive and agile.
Let Acora show you the true power of data
By quickly identifying the right tangible business outcomes, Acora can help you make rapid progress in data management. If you’re thinking about embarking on your data journey, looking at options for modernising legacy solutions or trying to get the most out of your modern platform investments, we’d like to invite you to a workshop. Together, we will explore the art of the possible and support the progression of your data maturity.
BROWSE SIMILAR TOPICSData
ASK A QUESTION
Don’t have time to call? Send your enquiry to the Acora team and we’ll get back to you quickly.