RESEARCH REPORT

In brief

In brief

  • An organization’s ability to build agile, disruptive business models depends on how well it leverages new data.
  • Are we really prepared for leveraging this firehose of new data to build sustained businesses, or are we daunted by this trend?
  • New data is worrisome if you are ignorant about your data ecosystem. It is exciting if you are able to establish a new data value chain.


Establishing a new data value chain
implies …

You have the ability to:

  • Capture data in whatever format and volume and at any speed from inside and outside your organization in real time or near real time to identify, discover, acquire and understand.
  • Curate (process) data quickly for multiple business scenarios using the power and speed of machine learning (ML) and artificial intelligence (AI) technologies, establish data veracity, and give all stakeholders one view of trustworthy data.
  • Consume data at the point of need in ways that were not possible before.
"When your capture, curate and consume process begins to tick like clockwork, data empowers you to build new offerings and disruptive business models (think Uber, Airbnb, Netflix, Alibaba … )."

— SANJEEV VOHRA, Global Lead – Technology Officer and Data Business Group, Accenture Technology

You don’t need to be a digital native

You may have noticed that most digital native companies are in the business of creating highly compelling customer experiences. They don’t own taxis, real estate, books or banks, but they do own the experience through a range of services they provide to their customers. The backbone of these services is a highly agile, iterative, real-time and boundaryless data value chain. These businesses are data-driven. As a result, they are able to combine data from multiple sources, create data sets in real time to offer dynamic pricing to customers, based on value and demand. And, since they are able to gain one view of their enterprise data, these businesses can quickly adapt their products and services to the changing preferences of their customers, enhance internal operations, and comply with evolving regulations.

"The biggest challenge facing most traditional businesses is that their data landscape is growing exponentially; it is highly complex and disconnected, and their technology landscape is dotted with independent point solutions."

— AJAY VASAL, Data Business Group Strategy Lead – Accenture Technology

By establishing a new data value chain, traditional businesses can also leverage data in the same way as digital natives. They can be in a position to not only monetize data, but also boost production rates, reduce non-productive time, predict customer behavior and more.

Establish an intelligent data value chain

To help businesses across industries create the new data value chain that can match their speed of business, we use Accenture’s Intelligent Data Suite solution which streamlines the entire data capture, curate and consume journey in an iterative and collaborative manner to give businesses the flexibility they need on an ongoing basis.

Accenture’s Intelligent Data Suite solution:

  • Automates the capture of different types of structured and unstructured (contextual, social media, video, text, audio and other) data streaming into the business environment from multiple sources. It also builds a graph of interconnected data across the enterprise, giving a comprehensive view of its origin, flow, usage, context and storage.
  • Curates data to establishes data veracity or the “right” data so all the stakeholders have one view of the truth.
  • Ensures data consumption by internal and external stakeholders is based on one view of the truth.
Furthermore, to ensure continuity in the data transformation journey, Accenture experts help businesses develop a data strategy, together with a plan for data infrastructure modernization and data governance—an aspect that is so often overlooked.

 

Wield new data to differentiate

It does not really matter how much data you have in your enterprise if you are not able to use it at the speed of your business. The new data value chain is that cornerstone of a digital business that can help streamline many aspects of your company’s operations and develop a data-driven mindset and culture throughout the organization. Most importantly, it has the potential to enable the C-suite discover and tap into new business opportunities to gain a competitive edge.

Sanjeev Vohra

Senior Managing Director, Lead – Group Te​​chnology Officer and Data Business Group Global, Accenture Technology


Ajay Vasal

Data Business Group Strategy Lead – Accenture Technolog​y

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