EFIS 2015: Capgemini Lays Out Principles for Navigating the New Data Landscape
Firms must evaluate and leverage new data sources to deliver insight at the point where action needs to be taken.
Following the financial crisis, firms cut costs by deploying cheaper data technologies, such as Hadoop, and attempted to grow profits by diversifying revenue streams. However, the industry is lagging when it comes to monetizing data, Jiang told attendees.
The key challenges are the absence of a clear business case for getting funding and the burden of legacy technologies, and siloed databases, Jiang said. "If the business is siloed, by nature, the data is siloed," he added.
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