As Doug puts it, “most organizations have a better inventory of their office furniture than their information assets!”
And increasingly, it’s about much more than “just” business intelligence and analytics to improve corporate decision-making. Data is at the heart of new digital business models that allow companies to monetize information more directly than in the past.
In order to support companies in these efforts, SAP recently created a new initiative called the SAP Data Network. It’s an “internal startup” headed up by former SAP CIO Helen Arnold, and it’s essentially designed to help organizations with their Infonomics efforts: “SAP Data Network helps organizations turn their transactional business data into actionable insights, enabling them to create new value in the form of unprecedented revenue opportunities, efficiency improvements and better customer experience.”
Many of these new initiatives will be across existing company boundaries, using data to create “systems of systems” and “ecosystems of ecosystems.”
What about you, in your organization? Do you have systems in place to effectively monetize your data? If not, SAP would like to help.