Today at the Gartner Business Intelligence and Analytics Summit, Information Builders, a leader in business intelligence (BI) and analytics, information integrity, and integration solutions, announced that its technology is helping organisations develop a financial strategy around their data. Working with Information Builders, companies such as Helzberg Diamonds, U.S. Bank, RainTree Oncology Services, and Yellow Pages Canada are monetising their data assets by identifying new revenue streams or finding cost-savings – and operating more competitively as a result.
Regardless of the approach organisations take to data monetisation, a successful initiative is dependent on three key areas – organisation, governance, and sharing. It’s critical that companies are equipped to handle data from a variety of sources and formats; ensure its quality and accuracy; and customise the delivery of the resulting insights to the preferences of all audience segments. Information Builders is uniquely able to support these diverse requirements through its WebFOCUS BI and analytics platform, underpinned by its iWay Integrity and Integration suites. The technology guarantees that information is efficiently collected and integrated, regardless of its origin or source, seamlessly addresses data quality issues, and facilitates an analytics approach for a wide variety of stakeholders, both internal and external.Organisations are gathering data from a huge volume and variety of access points, and this will only increase as cloud, social media, the Internet of Things, and other enterprise trends continue. This environment provides unprecedented opportunities for companies to realise the true return on their information and implement strategies for data monetisation. This data can be monetised in many different forms, including using information itself as a revenue-generating product, incentivising customer behaviors, or eliminating fraud, waste, or other excess in business processes.
Information Builders’ InfoApps™ are another differentiator in the ability to support data monetisation initiatives. With the tremendous interest currently in the use of data discovery and analytical software, organisations are finding more areas where they can save money, increase market share, and otherwise monetise their data. Purpose-built information apps distributed via an “app-store” experience, InfoApps are designed for incorporating these insights into organisations’ business information systems. Companies can monetise their data by designing InfoApps for specific departmental functions or roles, and by extending them outside of the firewall to customers and partners. Easily accessible via all devices, the technology ensures accurate data is readily available for actionable analysis by non-technical, mainstream users.
“The acceleration of data capture from digital interactions is both a challenge and an opportunity for businesses: there is greater monetary value within this data, but it’s increasingly difficult to manage this data efficiently to produce a financial benefit,” said Gerald Cohen, president and CEO, Information Builders. “With the right BI and analytics capabilities, organisations can seize the potential to transform data into a profitability enhancing asset and create a competitive differentiator in a time when increasing profit margins and maintaining customer loyalty is critical. We’re proud to help Helzberg, U.S. Bank, RainTree, Yellow Pages, and numerous other customers achieve these goals, and look forward to helping more organisations tap into the power of their information.”
Information Builders will be exhibiting at booth 409 at the Gartner BI and Analytics Summit at Caesars Palace in Las Vegas March 30 - April 1, where executives will be on hand to offer demos and chat about data monetisation and the future of BI and analytics. In addition, the company is hosting an executive seminar series on data monetisation at locations throughout the country.
