Data as a Product (DaaP)

Data as a Product (DaaP) has changed how businesses manage and access available data. Rather than keeping it locked up, messy, or in silos, DaaP allows teams to break it out of departments and bring it together into a unified source of truth.

This paradigm shift has changed how stakeholders access and interact with data relevant to their roles. In many organizations, data is held close to certain positions, leaving only a handful of people in charge of disseminating insights to teams. This approach has led to massive operational inefficiencies and siloed information, preventing insights from reaching across departments and halting the ability of the organization to act upon these insights holistically.

Breaking away from the pattern of disparate data management requires companies to change how they think about data. Teams can bring together multiple information streams when organizations can treat data more like a product than points in a spreadsheet. DaaP puts an appropriate governance plan in place to control access and security, so that organizations can leverage a more unified repository of available data for next-level intelligent operations, bridging the gap between those accessing the data and the stakeholders relying on them for decision-making.

Decision-Making Via DaaP

The 3 P’s — people, processes and platforms — directly impact the alignment and interconnectivity of combinatory systems. To leverage DaaP findings, these systems must be able to describe, interpret, explain and control the data. A greater risk model fails to deliver actionable or valuable insights if a team deploys technology without skilled people, sophisticated platforms, or streamlined processes.

Every department benefits from having access to insights via DaaP. Organizations that empower teams with easier access to data and processes that naturally and securely remove barriers from tapping into insights speed the time teams can make intelligent decisions.

Creating an infrastructure that builds a single source of data truth that can be accessed and used for quick, customer experience (CX) centric decision-making creates a multiplier effect that directly reinforces and strengthens feedback loop models.

Developing a Single Source of Truth

Many organizations have disparate data ecosystems managed by different departments and acted upon in silos. This approach can quickly create a data swamp and lead to ineffective operations. Clearing out that swamp starts with warehousing all incoming first, second and third-party data streams into a single data lake.

Once there is a single source of truth in the organization, teams are more equipped to connect the dots from the accumulated knowledge. Applying the findings and leveraging the insights is the end goal of harnessing the power of DaaP inside an organization. This approach is how DaaP allows for more informed, insights-centric, intelligent operations.

From Data-Driven to Insights-Centric

DaaP equips teams to move from being data-driven, which can often lead to misinterpretation of data, to becoming more insights-centric. Leveraging this single source of truth allows teams to draw insights out of the available data sources, creating more efficiencies to scale what’s available inside the data faster. By harnessing the myriad of digital assets and data at our fingertips, teams can move faster and ratchet up insights to be more strategic.

Frameworks to Guide Big Data Initiatives

As you strategize what intelligent operations could look like for your business, there are key frameworks to help define your processes and move away from operating from a data swamp.

Break Down Silo Walls

An organization’s informational infrastructure doesn’t often align across all people, platforms and processes. By achieving a more meaningful level of analytical and digital maturity, teams can build a consistent vision for the entire organization, helping reduce confusion and improve focus, keeping the team and company on track.

Improve Brand Experiences

As the velocity of data between departments increases so does the employee experience. Teams more closely aligned through DaaP can act faster upon insights and make customer-centric decisions to build retention, democratize data, and elevate the brand experience.

Disseminating Insights

Infrastructure is only a small part of the data looping process. Insights come when organizations roll the data back in and close the loop. This continual data looping process includes visualizing your data and relating the findings to the business’s why. Until your data tells a complete and relevant story, you’ll struggle to extract strong insights and monetize it.

Secure Sensitive Data

There’s a plethora of data pouring in, making it hard to get the right insights into the right hands without sacrificing security. DaaP allows for controlled access to data, making them faster and easier to access while protecting sensitive information.

Customer Experience (CX) Terms