Data-Driven Insights

Informed Applications: The Next Generation Beyond Analytics – Part One

February 25, 2014   |   Kevin Leininger

Kevin E. Leinger IntegriChain CEO

Kevin Leininger is CEO at IntegriChain. He has spent the last 20 years building and launching software and services companies in the financial services, petroleum, and pharmaceutical industries, and he is extremely passionate about the ways that data can transform business processes through the power of technology.

At IntegriChain, you will see us write and talk a lot about something called Informed Applications. We can’t take credit for this term as the first time I heard it was at a Big Data conference at Stanford University. The more I thought about the phrase, the more it resonated with me. IntegriChain believes that the future of applications are those that are “informed” by the underlying data. This thesis drives our thinking and product design now and into the future.

Legacy Software Applications
Software applications have been built and rolled out for 30+ years into legacy on-premises environments for use by internal customer constituencies. During that time, software applications were largely focused on automating a particular business function or process thereby enhancing efficiency. Rarely have they been used to produce a new or unique insight and therefore create new revenue opportunities. In addition, they typically did not use any outside data sets that were prevalent across these organizations. They were there simply to automate and/or augment an existing business process, which meant their business value had limitations to the organization.

Analytics
Analytics is a word that is now more in vogue than ever, driven by vendors in the Big Data space and certain providers trying to sell more databases, query tools and visualization tools to companies who can’t use the tools they already have. I have sat in many meetings where I’ve heard it said, “I need more insight.” I always ask, “What does this mean?” This typically meets with a blank stare and an uncomfortable silence. Companies are simply overwhelmed by the amount of data and analysis they already have yet they claim they can’t answer their most important questions. What is going on? Do they really need more reporting and analytics tools or do they need something that they can specifically tie to an action?

With all the data you have in your company, do you still struggle to get the right insights that can empower your decision-making? Tell us about it in the comments.

Stay tuned for Part Two.

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