Case Study : New Data Lake Deployment & Management from STAND 8 |
Accurately predicting consumer preference 10 weeks prior to a major product launch is hard enough but failing to factor in very recent behavior from new data sources makes it impossible. The Competitive advantage posed by new segmentation profiles was at risk. Our client could not afford to wait the months it would take to include new and exciting consumer data.
The new system allows new sources to be added to data models in only days. Now, critical consumer data points can be quickly integrated into business decisions.
The new environment accommodates more than 50 data sources with more than 1,000 fields with scalable benefits. When combined with data lake technology, the low cost of storage allows dramatic savings from both time and money since all data can be secured and made available instantly if needed.
No longer must analysts wait for new data elements to be included in the database—they are already there. A simple process to light up new fields and calculations puts competitive insight at the client’s disposal in real-time.
The current objective is to increase predictive accuracy using unstructured data while expanding the decision lead-time to 6 months out!
The data lake technology has dramatically expanded the business impact. The models predict business outcomes with 91% accuracy. Expanding data sources are helping to refine and tune the models for even more accuracy and business quality.
Perfecting the process of business decision making is at the core of STAND 8 enterprise transformation.
The landscape of business data is changing and so is its business intelligence system. Former systems founded in legacy data structures can introduce unnecessary complexity to the modeling of decision-making factors.
Data lakes represent significant advantages but also come with significant risks if not properly configured and managed. STAND 8 maximizes its value through rigorous assessment, implementation, and optimization transformation routines.