how can you calculate the cost of your data?
TRANSCRIPT
How Can You Calculate The Cost Of Your Data?
September 20, 2016
Data Prepared By Business, Scaled For Business
Maximize Revenue – Stay CompetitiveAirlines aggregate a variety of data to run and apply dynamic seat pricing.
Allowed airlines to step out of pricing wars and link pricing to demand and flyer profiles.
Image Source: abcnews.go.com
Are you able to demonstrate business
ROI inhibiting data investment?
By 2017, 33% of the largest global companies will experience an information crisis due to their
inability to adequately value, govern and trust their enterprise information.
Source: Gartner
• Missed Revenue
• Customer Churn
• Inaccurate Forecasts
• Hidden Fraud
• Compliance Fines
• Inaccurate Inventory
• Inefficient Logistics and Fulfillment
• Lack of Worker Productivity
“Too often, companies execute big data projects as bottom-up projects integrating data sources
with no clear business objective or goal in mind. “- Noel Yuhanna, Principal Analyst, Forrester Research
Lost time to business ROI
Big box retailer stands up Hadoop distro to modernize data center and accelerate integration.
Data lake created without business use cases and involvement
Takes a year and a half to identify and run pilot scenario for for loyalty analytics.
Data pipelines are for systems, not people
We start with rich data…
ConversationsRelationshipsExperiences
We process data to fit systems… We lose all meaning.
Data in the RawDeconstructDisassociate
Atomic
Does this sound like you?
• Traditional tools requires a lot of installation and set up – slows down starting up a project
• Cannot work on full/large volume of data – need to sample data• Based on SDLC process – write code, package and then run it. Not self-service.• Cannot see data easily while working on it• Cannot query fast enough• Cannot repeat my operations again and again• Cannot make changes easily and quickly
Source: Paxata Financial Services Customer
What are your biggest challenges when preparing data?
Get a handle on your cost of data
Right Fit Your Data Management Strategy
Prescriptive AnalyticsCompetitive
BIInformed
TransactionsCollect
Exploration / DiscoveryDemocratized
0%
100%
% D
ata
Use
d
Time to First Value
HighPeriodicData Interaction
Months <Week
Acco
unta
bilit
y
IT Driven
Business Driven
Model Your Return On Data
Business Outcomes• Time to first business value – upside or de-risk• Increased productivity – go deeper with data• Expanded capabilities – scale intelligence
Metrics to track• % data used• Time to understanding• Data lake adoption• Decrease/Increase resources• Responsiveness• Retire or decrease technology service
Measure Your Return On Data – Auditing Firm
• Over 1000 analysts who spent over 50% of their time cleaning, organizing, and merging data so that the company could complete audits.
• Missed Opportunity: Concentrating on data cleansing rather than increasing the number of audits that could be performed cut into additional revenue potential.
• Measure: Assumption - move 40% off data cleansing
• Result: 27% increase in revenue generating capacity
Calculate ROI
ROI – Resource Hours
ROI – Added Resources
ROI - Productivity
“Prior to Paxata, we struggled with cumbersome data prep processes that were impossible for us to audit or automate – our only approach was to
just throw more bodies at the problem.”
- Chief Data Officer, Financial Services Firm
Business Analyst Chief Analytics Officer Chief Data Officer
You know good data when you see it
Engage with data yourselfAccess data anywhere
Understand the meaning of the dataPrepare data for analysis
Collaborate with your teamShare your data
You deliver meaningful information to drive business outcomes
Power an insight driven businessUnlock data value quickly
Understand what data worksMake data actionableCapture data hygieneEnable collaboration
You enable the business to get value from all the data
Scale data to the enterpriseGet faster return on data investment
Deliver a comprehensive serviceScale up and out
Deploy data and pipelines fasterGovern and secure data
The Paxata Difference
Data Prepared By Business, Scaled for Business
Valu
e
Agility
Business
IT
Repeatable Iterative/Discovery
IT
Analyst Data prep tools
IM Solutions
Business Information Platform
BI Solutions
Intelligence At Scale
Paxata connects information to business at scale
Integration Quality Enrichment Governance
Semantic Catalog* and Library
Consumer Experience, Exploration & Collaboration
Connectivity Framework
In-memory, parallel, pipelined, columnar, distributed data transformation engine
Automation
Adm
inist
ratio
nSe
curit
yDA
TA
3rd partyPackaged Apps Databases/EDW Flat filesHadoop/Big Data*: Roadmap
USE
CA
SES
Custom AppsBI & Analytics Transactions Data-as-a-ServiceData Markets
Developers Data Scientists Analysts Information Workers
Collaboration
Paxata Business Information Platform™
Key Takeaways
• Build an ROI model tuned to strategic, growth, efficiency and risk• Model metrics on data accessibility, interaction, accountability
and time to value• Address business outcomes that are personal, operational, and
organizational• Build an information platform that translates tribal knowledge
into organizational IP
Visit www.paxata.com/schedule-a-demo/Request a demo and get a free data prep value assessment!