GoodData, San Francisco, Calif., has launched a suite of solutions that the company says should help companies develop revenue and profit from Big Data.
Known as the BizData Monetization (BDM) platform, the solutions are focused on the business side of Big Data rather than on the technical side, as many of the technologies are, Roman Stanek, GoodData founder and CEO, told Loyalty360.
“Everyone someone speaks about Big Data, they talk about [a solution’s] technical capabilities; no one comes out and speaks about the business outcomes – how you can use Big Data to quantify customer behaviors, shorten the sell cycle, better target customers.”
Additionally, companies need to be able to measure their success or lack thereof from pursuing Big Data strategies, Stankek said. “Monetization is a big issue. When you have terabytes of data, you have to go in and understand the customer interactions. If all you do is store petabytes of information, then you are going to go bankrupt. The amount of data is enormous, companies need a better set of tools to monetize this information.”
Citing an IDC study, GoodData said that the volume of digital content this year will rise to 2.7 zettabytes (equivalent to 2.7 billion terabytes), including video, images, social media events and Web-enabled workloads.
“Today, the difference between success and failure is the ability to monetize a new class of data,” Stanek added. “It's ironic that, despite billions of dollars spent on business intelligence systems, we are still data-bankrupt. BizData Monetization will turn data into powerful insights and a revenue-generating source, completely revolutionizing how we think of and leverage data.”
GoodData's BDM solution includes:
-
BashMarketplace, a library of pre-built business analytics mashups called GoodData Bashes;
-
BizData Monetization Platform, an end-to-end, cloud-based analytics platform;
-
Powered By, an extensive partner ecosystem designed to extend BizData monetization across industries and functions.
The foundation of GoodData's BDM strategy is its BizData Monetization platform as a service, am end-to-end, scalable platform that delivers the complete stack of BizData integration, modeling and visualization, securely in the cloud.
“GoodData's BizData Monetization Platform enables our customers to gain insight into community engagement that identifies intent, such as product interest by prospects,” said Jeff Nolan, vice president of business development at Get Satisfaction in the GoodData press release. “Our customers can now leverage the Get Satisfaction Community Health Analytics 2.0 powered by GoodData to easily identify product interest, champions and leverage that insight to increase customer acquisition and deliver better customer service.”
The GoodData BashMarketplace emables partners and customers to create and access Bashes, business mashups, for their specific business needs. Bashes, built on GoodData's leading BizData Monetization platform, include integrations, reports, analytics, key performance indicators and best practices.
Stanek said a handful of GoodData’s 6,000 customers had already signed up for the new program, a figure he expects to reach a couple of hundred by the end of the year. The company itself is growing by 40 percent per year, Stanek said.