BUSINESS INTELLIGENCE, BIG DATA MANAGEMENT, DATA SCIENCE
Businesswire | June 02, 2023
New research from Tamr, Inc., the leader in data products, reveals that more than three-fourths (78%) of surveyed businesses focus on improving customer data quality and breaking down data silos. And many organizations are shifting from being solely data-driven to seeking value from the promise that their customer data holds. These findings are based on a recent study of businesses across a variety of industry sectors, including financial services, retail, manufacturing, and life scien
Customer data has become a key focus in light of ever-evolving customer preferences and behaviors. With both B2B and B2C customers expecting a seamless experience, it's become clear that improving the value of customer data is vital to any business's success. But when customer data is incorrect, incomplete, or outdated, it becomes difficult to derive value from it.
Dirty customer data: what it is and why it exists
Most companies' customer data is messy, incomplete, incorrect, and managed in data silos, making it difficult to integrate into a holistic, 360-degree view of the customer. Typically, organizations manage their data in a way which aligns to how they are organized – by product line, by geography, by business unit, etc. But, the real value from data comes when organizations break down those silos. Without that holistic view, the individuals in the company responsible for identifying and driving upsell/cross-sell opportunities, delivering world-class customer experiences, and identifying potential risk exposures will struggle to succeed.
"With regards to customer data, changing customer buying behavior created an influx of data for businesses to comb through," said Anthony Deighton, Data Products General Manager at Tamr. "Companies leading the pack in winning buyers and increasing customer loyalty are doing so by solving the customer data problem."
Data is everyone’s concern
Tamr research participants were primarily from data and analytics teams and business departments, such as marketing, procurement, and customer experience. The high survey participation rate (64%) from business departments demonstrates that data is becoming a part of everyone’s job in the enterprise. And as organizations become more data driven, data products are rising as a primary focus to enable organizations to realize the value of data as a core asset.
Data products: an antidote to dirty, disconnected customer data
Companies that have shifted their focus to data products are overcoming customer data problems and delivering outstanding results. Data products are easy-to-use sets of high-quality, trustworthy, and accessible data that people across an organization can use to solve business challenges. Tamr’s research shows that 69% of respondents cited business value as a key metric for measuring the success of data products, second only to user experience. In fact, 74% of respondents would advise companies wanting to solve customer data problems to develop a data product strategy that focuses on business value.
“Treating data like a product involves bringing structure to the ownership, processes, and technology needed to ensure the organization has clean, curated, continuously-updated data,” Deighton explained. “Organized by business entities and governed by domain, data products are the best version of data. They are aligned to key business entities and available for humans and machines to consume broadly and securely across an enterprise to solve business challenges.”
Building data products
A templated approach to data product development is the simplest way to accelerate time to value for organizations wanting to move toward a data product strategy. Data product templates enable you to build a custom flow for your MDM program quickly, author and curate data, and improve data quality for your operational processes, analytics, and data consumers. Data product templates address wide-ranging data challenges, from B2B and B2C customer mastering to supplier mastering and legal entity mastering, so any organization seeking better, more efficient ways to manage their data can benefit from this approach.
“Our research indicates that businesses that have moved away from being data-driven only, and adopted data product strategies to become value-driven, are the real success stories,” says Deighton.
Read Tamr’s latest insights report, Getting Started With Data Products: A CDO Guide, to learn more about how to get more value from your customer data with data products.
Tamr commissioned a third-party market research firm, Propeller Insights, for the research of over 500 participants on the state of the data and analytics industry.
About Tamr, Inc.
Tamr, the leader in data products, enables customers to use data product templates to consolidate messy source data into clean, curated, analytics-ready datasets. Organizations benefit from Tamr, the industry’s first suite of data product templates that combine human curation, patented machine learning, mastering rules and enrichment with first- and third-party data to accelerate business outcomes and deliver business-changing insights. Tamr’s cloud-native and SaaS solutions enable industry leaders such as Toyota, Western Union and GSK to get ahead and stay ahead in a rapidly changing competitor environment.
Visit www.tamr.com and follow @Tamr_Inc on Twitter and LinkedIn for more information about Tamr, its partners and investors.
About Propeller Insights
Propeller Insights is a full-service market research firm based in Los Angeles. We use quantitative and qualitative methodologies to measure and analyze marketplace opinions from B2C and B2B perspectives. We work extensively across multiple industries including technology, brand intelligence, entertainment/media, retail, and consumer packaged goods. Our collective experience in all aspects of the research process, from sample management and data collection, to data processing and analysis, ensures our research is efficient and of the highest quality.
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BIG DATA MANAGEMENT, BUSINESS STRATEGY, DATA SCIENCE
PRWeb | May 31, 2023
ArangoDB, the company behind the most complete graph data and analytics platform, today announced the GA release of ArangoDB 3.11 to accelerate its performance across search, graph, and analytics use cases. ArangoDB 3.11 includes performance improvements for ArangoSearch, ArangoDB’s natively-integrated full-text search and ranking engine, as well as new functionality to its web interface to simplify the database’s operations.
“ArangoDB 3.11 is designed to take the capabilities of advanced search and analytics to new heights, while also introducing a wealth of new performance, usability, and operational improvements,” said Jörg Schad, PhD, CTO at ArangoDB. “With today’s release, ArangoDB runs even faster and is more intuitive to use, allowing our customers and community to continue to unlock insights that help them optimize decision-making and accelerate innovation.”
New functionality in ArangoDB 3.11 includes:
Faster query performance across search and graph: ArangoDB 3.11 brings new functionality to ArangoSearch that improves its performance. New column caching options allow for common values to be stored in memory, and a new Analyzer for GeoJSON data stores geo-spatial data more efficiently. In addition, reduced memory usage of in-memory edge indexes as well as index cache refilling accelerate graph traversal performance while consuming fewer resources.
Improved user experience for database administration and management: With new features available in its web interface, even more of ArangoDB’s capabilities can be managed outside of the command line in a user-friendly graphical interface. The graph viewer for visualizing named graphs has received substantial improvements as well as new functionality. It has been reimplemented based on the vis.js library, the interface has been streamlined and rewritten to use the React framework, and overall performance has been improved. New features include the ability to search the visible graph to center a specific vertex, as well as by Start node. New functionality for ArangoSearch has also been added to ArangoDB’s web interface, including a search-alias View to create and manage search views, the ability to create inverted indexes on collections, as well as a new sorting mechanism and search box for Saved Queries to make it simpler to find relevant queries and discover which ones have been created or used recently.
Data science and analytics operational enhancements: ArangoDB 3.11 offers persisted Pregel execution statistics to better assist data science and graph analytics use cases.
Further features in ArangoDB 3.11 include parallel gather, write-write conflict improvements, various performance enhancements across AQL (the ArangoDB Query Language), new server options, and more.
Packaging and availability
ArangoDB 3.11 is available immediately. All new features are included in both the open source ArangoDB Community Edition and the commercial ArangoDB Enterprise Edition, except for column caching and the geo_s2 Analyzer, which are Enterprise only.
ArangoDB 3.11 is available for download as a self-managed deployment here, as well as on ArangoGraph Insights Platform, ArangoDB’s managed service.
About ArangoDB
ArangoDB is the company behind ArangoGraph Insights Platform: a next-generation graph data and analytics platform that uncovers insights in data that are difficult or impossible with traditional SQL, document, or even other graph databases – making it easier to drive value from connected data, faster. ArangoGraph Insights Platform is the scalable backbone for graph analytics and complex data architectures for thousands of Fortune 500 enterprises and innovative startups across many different industries, including financial services, healthcare, and telecommunications.
Founded in 2015 in Cologne, Germany, ArangoDB Inc. is a venture-backed, next-generation graph data and analytics company headquartered in San Francisco, California, with offices and employees worldwide. Learn more at http://www.arangodb.com.
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BUSINESS INTELLIGENCE, BIG DATA MANAGEMENT, BIG DATA
Prnewswire | June 05, 2023
BigID, the leading data intelligence platform that enables organizations to know their enterprise data and take action for privacy, security, and governance, today announced an integration with ServiceNow, the leading digital workflow company making the world work better for everyone. With the availability of the BigID Data Classification App on the ServiceNow Store, this expanded relationship provides more advanced security and privacy capabilities for workflow automations.
BigID automates the discovery and classification of personal, regulated, critical, and sensitive data in the Now Platform®. ServiceNow Vault enables anonymization based on the intelligence about what is sensitive and who should have access. Together, the integration enables advanced data security, privacy, and governance by protecting sensitive data.
The new BigID Data Classification App integrates with ServiceNow Vault to:
Automatically analyze and classify sensitive data on the Now Platform.
Leverage BigID classification and sensitivity tags to intelligently anonymize sensitive data by role and who should have access.
Enable compliance awareness of data governance and privacy regulations such as CCPA, GDPR, and HIPAA.
BigID Classification with ServiceNow Vault enables customers to:
Accelerate validation of software development sample data sets sensitivity for non-production environments.
Access retail analytics without exposing underlying personal data.
Improve financial services fraud detection and prevention while helping protect customer data.
"The collaboration applying BigID Classification for the ServiceNow Vault is another important offering to integrate BigID intelligence into data privacy and security workflows," said Iulia Stefoi-Silver, Sr. Vice President of Technical Alliances at BigID. "Our joint customers will save time, while increasing privacy and security to better protect their data. We are thrilled to continue expanding our strategic relationship with ServiceNow."
"As businesses face increasing cyberattacks and growing regulatory requirements, it is essential that organizations properly protect mission-critical apps," said Sultan Dawood, senior manager, Platform Security Product Marketing at ServiceNow. "This integration with BigID will help customers accurately and efficiently protect sensitive data, saving employees time and ensuring the organization is protected from emerging threats."
About BigID
BigID's data intelligence platform enables organizations to know their enterprise data and take action for privacy, security, compliance, and governance. Customers deploy BigID to proactively discover, manage, protect, and get more value from their regulated, sensitive, and personal data across their data landscape. BigID has been recognized for its data intelligence innovation as a 2019 World Economic Forum Technology Pioneer, named to the 2021 Forbes Cloud 100, the 2021 Inc 5000 as the #19th fastest growing company and #1 in Security, a Business Insider 2020 AI Startup to Watch, and an RSA Innovation Sandbox winner. Find out more at https://bigid.com.
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