The core focus today is on delivering world-class experiences to consumers that persuade them to keep purchasing products from one brand. Personalised service is the key to an organisation where revenue proliferates and opens up avenues of growth and diversification. A steady and powerful long-term plan is required for the same. Where such integral decisions were purely based on human perception and primeval technologies in the past, the fact that the society now thrives in a VUCA society has directed companies towards making use of proper statistical and other such quantitative data which radiate a more secure future and help in taking effective decisions concerning departments such as engineering, marketing and sales among others.
The trend of neoteric times is to use databases and ‘cloud-computing’ software applications which make the crucial information readily available for analysis and forecasting trends in the future. As a result, companies have taken to the diversion and are trundling on the path of using their data houses. This is a future-proof approach which depicts the power of being in a digitally advanced world. Such information has enabled companies to bring about disruptions in the market, make them more nimble and enhance operational activities. This has been made possible through methods such as cloud computing, storage and auxiliary technologies.
However, it must be emphasized here that to make these data work in an efficient manner, the data houses must be looked after to make sure it is available in a structured pattern. Innovative IT systems called ‘data lakes’ have come into play where a cavernous amount of data is stored and can be used in future. It fosters machine learning as it provides valuable insights for the business and provides a good pace for a full-proof action plan. This often leads to current-gen and innovative outcomes.
Companies such as Volkswagen having good data houses have demonstrated their prowess in showing the operational trends, improving diagnosis and keeping activities on a level by analysing differences between production and how much of it is getting immaterialised. World’s highest revenue generator, Toyota is using such data from its connected vehicles and concocting better designed and developed cars. It has also been able to strengthen its position in providing car share, rideshare, full-service lease services and gaining the confidence and loyalty of an enlarged consumer base.
This technique has also allowed the Japanese automaker to launch features which watchdog the car’s health and notify the owner of maintenance requirements before a debacle could take place with the car.
Data lakes in cloud can be of momentous worth if they are accurate, up to date and reliable. A good testament of this is the BMW group which created a cloud data hub that deploys cutting-edge machine learning programs to enliven the development, production, sales and vehicle performance data around the world.
Data lakes also ease out logistics related conundrums and support every individual’s endeavour in delivering perfection and generous amounts of value to their organisation. Such contemporary methods have not only changed the society’s behaviour and business perceptions, but also brought about a revolution in internal structure. A large and significant emolument of such methods is autonomous processes in place reducing human effort and bolstering infrastructure. No doubt a consumer today feels more sufficed than ever before with the belief that he is receiving great bang for his buck.
Spokesperson: Dean Philips, Worldwide Technical Leader, Automotive at AWS
