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Unlocking the value of data

 Infinitely scalable read/write real-time data management

A recent article post on the BBC could have been written about Opentracker and the technology we have spent the past year developing. The piece, entitled 'Data wars: Unlocking the data gold mine' was written by Mike Lynch and ran on 12 April, 2012.

The premise of the article is that businesses and organizations wishing to stay ahead of the curve can do so by learning how to use technology in order to give meaning to the data they collect. Traditionally, data has been stored in databases and only later, if ever, consulted. With technology, it is now possible to consult data in real-time and make decisions based on what we learn.

"The availability of vast quantities of data on current or potential customers on e-commerce sites offers online retailers huge value - if they can gather and analyse this information efficiently and in a timely manner"

- a quote from the article which tells us about the potential value of (large scale) data. There is a catch: the information collected needs to be analyzed and understood today, as opposed to tomorrow.

Additional points;

  • Online customers generate a lot of data (data trails) which, combined with social media targeting, can be used to add value, and generate leads and sales
  • In order to be effective, decisions based on this data should be based on realtime reporting
  • This is because the information loses its value (quickly) and so should be used as quickly as possible
  • Keeping up with the demands of changing customers requires a structural solution ( like real-time data utilization)
  • This is a question of scale necessitated by the current internet environment and the volume of customers (with millions of associated data points) that many websites currently manage

The key is to understand the data - leaving it exactly where it is - in order to create an infinitely scalable platform, and a powerful basis for analysis and action...and get to the heart of the issue - being able to process 100% of the information, structured and unstructured, to unlock real business value.

- quote from the article's conclusion.

The main reason that this article caught our attention is because, as mentioned above, we spent the last year or so building exactly what the author describes: an infinitely scalable read/write real-time data management solution. Not only that, but as of yesterday, it runs cross-platform, meaning that we can present universal activity across apps and websites.

Q: What is the goal?
A: Given the importance of understanding user audience and being able to react in a timely fashion, Opentracker’s goal is to provide a realtime solution which is easy to read and reports on Total Engagement across apps and websites.

Q: How cool is that?
A: Very cool!

 

 

 

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