Open data as such is a known initiative, which stems from the idea that the data should be freely available for everyone to use and publish without restrictions. One of the key drivers has been business innovations, which is driving economic growth. The growth potential of togetherness brings much better analytics and provides a better cost beneficial factor in driving the invocation faster and better for the entire organization.
Since there are so many different systems, applications, and UI which revolve within an enterprise. It is very vital to share the data across different software applications so that all the applications can work in harmony in order to yield better results. The different systems, in essence, speak different languages. For instance, have different systems for sales and purchasing might not synchronize the data together to provide better analytics and simply it’s possible that one customer service platform might not even know that another such platform exists which might have the needed data.
As such there are simple methods which are used in the organizations to make sure that the data exchange between different applications takes place using something methods simple file transfers to complicated APIs which allow the data exchange.
Still you are very limited to what that application is willing to share with you for instance SAP has lots of Business APIs, which provide necessary information when needed by third-party systems but in order to expose some information as a service, it still has to go through some simple development steps to publish and catalog these APIs.
Benefits of Open data
- Brings Transparency across multiple data points as one data model might provide a clearer picture of spending, tracking and making of different aspects as one logical data entity.
- Better feedback loops bring much better ideas on the table for an overall improvement of the product itself since the data is now clearer across all departments and regions. Having one holistic view will clearly tell what is missing and provides a chance to improve multiple segments of the data model together.
- Innovation wins in all aspects since the vast data points provide better analytical views.
- Areas of improvement can be clearly identified by reviewing the weak points in the data sets.
- Makes Internet of things much more efficient since it has to now touch less data points to make the workflows better.
- Better decision making since you know everything whatever there is to know about a model
Microsoft, SAP, and Adobe are collaborating for Open Data project initiate and the idea is to have the data flow between multiple systems very smoothly with all the UIs taking advantage of this data to provide better visibility. The new open alliance makes silos outdated.
Open Data Initiative brings better flow to the data making everything come together as one data model. Which might get and provide better insights into the customer data, for instance, having the financial and the operational data as one data model makes looking at both as one or a multi-layered perspective depending on what an analyst is looking at. A comprehensive, real-time view of one model across all touchpoints.
What do you think about this? To truly transform the business and delivery amazing customer experience through a world-class delivery model, the data should paint a real-time picture of all the aspects of the organization or entity such as transactional, operational, financial, modular and having data silos makes it extremely hard to bring a truly world-class experience. A single real-time holistic customer view providing data makes for better decision making, better transparency, has better feedback loops and identifies areas of improvement.