Data: The 4-letter word underpinning artificial intelligence
It’s 2017, and everywhere you turn artificial intelligence is being touted in some portentous- or potentially overhyped- way. AI is the future. So is the cloud. And SaaS. Plus DaaS. Throw in machine learning and you’ll change the world.
But what is actually holding these tools together on the back-end? More often than not, it’s data. So, it’s data that we should be thinking about before we even start talking about the “sexy” stuff.
Dynamic data demystified
A dynamic data foundation is the fuel that runs through the engine of today’s most successful companies – and is what powers successful AI and machine learning efforts. A dynamic data foundation is achieved when all of a company’s data is mastered- connected, structured and accurate within a system that links it across an entire enterprise in real-time. Every organization should strive to become data-inspired.
High quality fuel for peak performance
The process for bringing your data to a dynamic level starts with structure. A standardized structure needs to exist at four distinct levels across your database: entity, hierarchy, segment, and location/market. You need to connect your own data with a defined structure and then share that across systems. There is no connectivity without coverage. Data must represent an entire business universe: customers, prospects, and partners across geographies, industries, and segments. The final factor is quality. Data must be trusted as being complete, accurate and current.
The ultimate goal of any master data strategy is to increase revenue, improve leads and break down internal silos. According to Dun & Bradstreet’s State of Sales Acceleration report, B2B sales professionals agree: 85 percent of those surveyed stated that having the right data saves time and increases efficiency. Additionally, with 26 percent of marketers currently using AI and another 22 percent planning to adopt it within six months, it is clear that practitioners need access to accurate data to kick-start the implementation of new technologies.
Ensuring your mastered data is accessible in real-time, no matter the region or department, will help you finally access the buzziest technologies of our day to break down silos and increase selling opportunities. Some still seem to think AI is a chicken and egg scenario, but we know what must come first: dynamic data.
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