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Deloitte Data As A Strategic Asset

Deloitte AI Institute: “Data as a Strategic Asset”

Deloitte says leading organizations explore new platforms that support data ingestion, curation, standardization, and distribution. For unstructured data, this sounds like a knowledge management system such as SinglePoint.

In a recent e-book, entitled “Data as a Strategic Asset*”, the Deloitte AI Institute argues that enterprises must “shift away from managing a mesh of siloed, inconsistent data to a position where data is fuel for accelerating growth and innovation.”

The first step to achieving this goal, Deloitte says, is laying a foundation that includes new processes and technologies.  “The groundwork for using data as a strategic asset is building consensus for change in processes, technologies, and the people who employ them.”  On the technology side, many leading organizations “explore new platforms that support data ingestion, curation, standardization, and distribution. They also consider a robust, increasingly cloud-based, data management platform.”

For unstructured data, what Deloitte is describing sounds remarkably like what Northern Light SinglePoint™ delivers: an enterprise knowledge management system that centralizes all of an organization’s market research, competitive intelligence and consumer insights content into a single, easily searchable repository that facilitates discovering strategic insights.

With SinglePoint, relevant information from all sources — internal and external, field generated and from syndicated sources — is readily accessible to every employee.  All the market research and competitive intelligence that lives in reports and other documents across the enterprise is fully integrated and searchable in one place, with search results returned in under one second.  And SinglePoint’s embedded artificial intelligence (AI) capabilities, which summarize and synthesize the main points of key documents and direct users to other relevant content based on their interests, accelerate time-to-insight for all users of the system, driving better and more timely business decisions.

Such capabilities speak to Deloitte’s second step along the path to transforming data into a strategic asset, “moving to productization”, in which “data is held and presented with the end-user in mind, such that they can find the right data, have the capacity to analyze it, and can discover meaningful insights that advance their work and improve their decision making.”  SinglePoint fulfills these criteria for users of a knowledge management system by applying AI-based machine learning to organize millions of pages of content in a way that not only makes it searchable, but findable, and then calls out important concepts within each found document for the reader.

Finally, Deloitte discusses “data monetization” as a benefit to organizations that effectively employ data as a strategic asset.  The connection to SinglePoint in this regard is leveraging data – e.g., market research, competitive intelligence, and consumer insights – that “informs product innovation, enhancing competitiveness and revenue in the marketplace.”

The ultimate goal, says Deloitte, is to “deliver trustworthy, higher quality data that are searchable and accessible by all stakeholders, evidencing early ROI.”  Partnering with Northern Light delivers that in spades.

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* The Deloitte AI Institute’s e-book is one of thousands of thought-provoking pieces contained in Northern Light’s Thought Leaders Content Collection, available to SinglePoint subscribers directly from Northern Light, and to individuals and companies through Amazon’s AWS Marketplace and the Amazon Data Exchange.

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