While data is the backbone of modern business, it’s not guaranteed to drive success from the get-go. The effective collection, management, and analysis of that data—particularly as it relates to market trends, consumer behavior, operational challenges, and sales improvements—differentiates the competitive enterprises from those battling their data mess.
Data experts joined DBTA’s webinar, The Role of Data in Driving Growth, to examine how the speakers’ respective companies have driven enterprise growth through the successful taming of their data estates.
Troy Demmer, co-founder and chief product officer at Gecko Robotics, noted that today’s organizations are facing increasingly disparate systems which produce data silos. These silos then reduce collaboration, increase costs, stunt innovation, and constrain growth—a recipe for data disaster. Part of this inefficiency is because each component of business—from technological to operational, maintenance, strategy, and more—"[doesn’t] have common languages or common datasets that… [allows them to each] have a similar understanding of what’s going on,” said Demmer.
For a company focused on sensor and IoT data like Gecko Robotics, Demmer explained that it functions on a proprietary combination of modular hardware and software components. The hardware automatically collects data while the software (Gecko’s Cantilever platform) processes, visualizes, and analyzes that data to create digital twins for clients to use in the long-term.
Gecko Robotics’ strategy has increased asset utilization through digital twins, providing granular visibility into asset health which improves operation uptime. The approach has also improved operating expense and capital expenditure, where automatic data capture reduced inspection hours and operational costs while prolonging the life of assets, according to Demmer.
Keith Lambert, VP marketing and business development at Kore Technologies, explained that Kore Integrate is fundamental to their data strategy. Kore Integrate is a modular integration and warehousing platform designed to eliminate manual data tasks, remove data silos, and improve data quality. As a cloud-enabled, industrial strength platform that manages 5 million transactions per week, Kore Integrate supports data integration and aggregation from multiple applications, databases, and servers.
The implementation of Kore Integrate has led to a variety of benefits, including improved operational efficiency, the elimination of data silos, reduced costs, manual data tasks, and errors, and the increased value of back-office systems, noted Lambert.
Outside of architectural-based data strategies, Jameel Francis, CEO of Kore Technologies, pointed to sales as another area that can be improved through the proper application of data. “Having data-infused sales operations leads to enhanced efficiency, better client and customer prospecting, and optimized sales process at every stage of selling,” said Francis.
Kore’s approach to data-driven sales is defined by Kore Commerce, a data-driven sales enablement tool that integrates with best-in-class ERP systems to enable bi-directional data synchronization. This allows enterprises to efficiently distribute and deliver products across various supply chains, as well as improves sales performance, increases sales efficiency, enhances customer relationships, and invites better decision making overall, according to Francis.
For the full, in-depth discussion of the role of data in driving enterprise growth—featuring use cases, viewers polls, a Q&A, and more—you can view an archived version of the webinar here.