Data-as-a-Service: a blueprint for success
Leeds, UK, September 17, 2024 – Today, data leaders gathered at the iconic Adelphi in Leeds for a deep dive into the world of Data-as-a-Service (DaaS). Jon Clay, Director of Data at Solera, delivered an insightful presentation that offered a roadmap for organisations seeking to monetise their data and drive business growth.
Drawing from his experience in the automotive industry, Jon highlighted the immense value that can be derived from effectively leveraging data as a service. Various success stories highlight the importance of investing in data infrastructure, developing data-driven strategies, and protecting the privacy and security of customer data.
Customer-generated data, Jon argued, is particularly valuable, as it serves as a distinctive selling point. Companies such as Amazon and Uber have demonstrated the power of leveraging this data to create unparalleled customer experiences and drive revenue. Amazon’s marketplace platform, for example, provides a valuable data-driven service to third-party sellers. By analysing sales data, customer feedback, and market trends, sellers can optimise their product listings, pricing strategies, and inventory management.
The key to unlocking the full potential of DaaS lies in building a sophisticated data platform, a journey that Jon discussed. This platform should be designed to capture, process, and analyse data efficiently, enabling organisations to extract meaningful insights and deliver valuable services.
Following the presentation and lunch, attendees participated in breakout sessions to explore specific challenges and opportunities related to DaaS. Key takeaways from these discussions included:
- Measuring ROI: Organisations should focus on quantifying the new value created by DaaS initiatives, tracking their impact on business KPIs, and demonstrating their contribution to market share growth.
- Data governance: Effective data governance requires a culture of change, robust processes and documentation, and a deep understanding of legal and regulatory requirements.
- Integration: Successful DaaS integration involves a comprehensive review of data strategy goals, legal constraints, internal capabilities, and investment requirements.
As the event concluded, attendees left with a clearer understanding of the steps necessary to establish a thriving DaaS function. By following the principles outlined by Jon and addressing the challenges discussed in the breakout sessions, organisations can position themselves for long-term success in the data-driven economy.
Huge thanks to Jon for his time today!
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