Performance Management for E-commerce
Decision makers need timely business intelligence. Commerce generates huge amounts of raw data, but you can’t derive intelligence from it without focused performance metrics. Your business needs performance management to drive sustainable growth and to deliver defensible competitive advantage.Data Alchemy
As online transactions become the norm, organizations find themselves sitting on vast quantities of data. For those that recognize this and the value that lies therein, they are able to develop data-strategies that increase value to customers, that are able to more effectively win and retain customers, and that create additional benefits to partner eco-systems or whole new commercial lines of business.
Data Alchemy Offering
The combination of Business Intelligence, Big Data Analytics and Data Strategy experience within the First Retail team allows us to offer the concept of Data Alchemy. Our methodology is based around a set of simple steps for data-centric business modeling.
- Understand what the basic transaction that you perform for your users and the precise value of that transaction
- Identify all possible data that gets created during the end-to-end process of that transaction
- Work out who might value that data in the raw, when it is aggregated or combined with other sources
- Determine a monetization model for the data with some new customers who gain disproportionate value from it - without abusing the users who are contributing the data
- Go back and enhance the process around the user transaction to ensure, increase and enrich the data being created
First Retail in conjunction with Walmart Labs hosted a Meetup on Big Data where Data Alchemy was presented:
Semantic ETL
Once a data strategy has been determined, the next hurdle for organizations wishing to derive additional value from data is preparation of the data for further processing. The data is often in the wrong place, in the wrong format and not in a state that can be easily married to other data. Once this is corrected, timing of data becomes critical - sometimes immediacy is necessary for streaming data to be processed before loading into a data store for business analysis.
With Semantic ETL, you can clear bottlenecks by capturing raw streaming data at the source and categorizing it in flow. You can add semantic value, map the data to existing resources, structure it for efficient storage and analysis, and further enrich it with vocabularies and crowd-sourced input. By drawing inferences from the data in real time, you can gather information that can significantly drive your competitive advantage.
Contact us to find out how we can help you understand the gold hidden within your data and to deliver strategies and technologies to realize that value.