Organizations now recognize the value data can bring to their business. But before they begin procuring analytics tools to leverage that value, they should first determine how exactly these solutions can solve their business challenges.
Establishing the business scenarios and use cases the organization wants to achieve will help ensure that it identifies the appropriate set of technical tools to drive its data analytics strategy. Too often, though, companies get caught up with efforts to ascertain the data sources they can access and technologies they can use to analyze the data. They then dedicate significant resources to choosing what they believe to be the best analytics products, focusing on the types of reports the tools can generate.
This preoccupation with procurement can potentially result in companies overlooking what is more critical: the business outcomes they want data analytics to drive in the first place. While it is important to identify the right data analytics solutions, organizations need to first establish the use cases and business scenarios they hope to achieve.
This will not only help facilitate their search for the most suitable analytics tools but also help them re-engineer or modernize their data platform or legacy business intelligence tools.
Rather than focus on the central storage or data architecture, companies should first establish key use cases and work backward from there to identify technology sources that will help them obtain those business outcomes.
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For example, a major shopping mall operator in Asia was clear about the business challenges it wanted to resolve. The company runs an expansive network of 74 malls in its domestic market, occupying a total gross floor area of more than 8 million square meters.
The mall operator needed to know when and where to hold marketing events to yield the greatest returns. Its objective was to find ways to generate more footfall and attract repeat visitors to its shopping malls. The company also wanted to enhance shoppers' experience, which meant it needed to understand visitors' journey within and around its shopping malls.
It turned to eCloudvalley, an Amazon Web Services (AWS) Partner, for help in developing a membership loyalty system.
As a publicly listed cloud consulting company, eCloudvalley supports enterprise customers in their digital transformation efforts with the cloud. It has served a clientele of more than 1,000 and runs a team of cloud specialists with more than 500 certifications, including cloud migration, data solutions and automated cloud management.
Tapping a range of AWS services, eCloudvalley rolled out a next-generation data analytics platform that could generate footfall demographics for the mall operator as well as customer journey analysis. The platform also provided customer 360 segmentation.
In addition, the mall operator was able to implement personalized promotion messages powered by a recommendation engine along with automation tools to support its marketing campaigns. This led to a 50% improvement in click rate for its promotion messages and a 20% decrease in customer churn rate.
Because it had clearly defined the business outcomes it wanted from the data analytics deployment, the company was able to better monitor and measure the effectiveness of its events and campaigns. This led to better decision-making, which drove richer shopper engagement and positive business outcomes for the mall operator.
With eCloudvalley’s help, the company achieved its objectives by tapping AWS services to reduce the time needed to process and prepare the data models. This enabled it to focus on using the data insights to power its decisions.
Data Culture Is Key to Sustaining Business Value
Establishing the right culture to ensure that your data analytics strategy continues to yield results is also important. Data projects should not be a one-time process but instead lay the groundwork for determining which data can be tapped to support business users in their daily decision-making processes.
Organizations can work toward this by cultivating a collaborative environment between IT and business users. This requires the IT team to help business users prepare their data and guide them in using it to make decisions or generate reports more easily. The goal here is to tap data to be more efficient and use data insights to benefit the entire organization.
The eSparkle data and artificial intelligence advisory service from eCloudvalley is designed to help businesses achieve that.
The company conducts interviews with its enterprise customers to identify their strengths and weaknesses. This enables it to establish a process and workflow optimization roadmap for its customers.
The eCloudvalley eSparkle team has led more than 100 deployments of data analytics and AI and machine learning solutions. The company is the first AWS Premier Consulting Partner in the ASEAN region that focuses on providing AWS data analytics and AI and machine learning services.
