Open Insights: Transforming Data Sources Into Valuable Assets

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Dr. Usama Fayyad, Chairman & CEO
Big data is the foundation for the next revolution in the field of information technology. Since the majority of data in any organization is semi-structured or unstructured (Gartner claims 90 percent of Data is unstructured), coupled with inability of traditional databases to handle anything but structured data, has driven most organizations towards big data analytics. This traction comes as a result of the undeniable advantage that data can provide in the present market scenario. Think about this, for a typical Fortune 1000 organization, a one percent growth in conversion rates, cross-sell or upsell, or retention can translate to hundreds of millions increment in total income. However, despite major investments in resources over the years, why do organizations still fall short of deriving value and success out of their data?

Dr. Usama Fayyad, the chairman and CEO of Open Insights has the answer: "there are two major headwinds that they face: inability to feed accurate data into AI algorithms to drive intelligence, and the lack of know-how in building applications that can leverage the increasing proportion of unstructured data. Especially as we transition from an economy of simple transactions to an economy of complex and rich interactions." Established to help change the world of data, Open Insights turns the data sets into productive and essential assets to help clients drive and optimize their business. "Much like the pyramids of Ancient Egypt, data stores in most organizations are little more than "data tombs" where data is laid to rest, inadvertently turning valuable assets into cost and liability as these data sets become targets for external hackers or internal leaks," says Dr. Fayyad. "What matters is not the size of your data warehouse but rather how your data environment is helping you create value from the data assets!"

Built on the idea to transform data into productive valuable strategic assets, Open Insights helps companies create the data environment to put their data assets to work. Leveraging its vast experience, Open Insights' team delivers a solution that can derive value from the data—whether it is structured or unstructured—in an efficient and timely manner. Open Insights' Enterprise Data Strategy is the comprehensive vision and actionable foundation which allows an organization to become data-driven, and in turn, customer-centric. "We aim to help companies—from established enterprises to innovative startups—unlock the value of their data assets for actionable insights and optimized data-informed business decision-making," states James S. Greene, Managing Director of Open Insights.
Dr. Fayyad mentions that if companies are thinking about starting their Big Data journey to power AI and Advanced Analytics, or if their first journey is going slower and worse than they imagined:

• Bring up a full functioning open source Big Data Stack
• With built-in data governance and a data architecture that will scale eventually to all your data needs and take you to a full data solution
• With one working high-value use case impacting the business (e.g. cross-sell, upsell, retention, etc.)• All within 12 weeks and at a cost that is 10x lower than your organization imagined possible

“That is how the combination of Open Insights’ architecture for extracting intent from interactions coupled with Open Source software coupled and our accelerators make a powerful transformation on your data and analytics landscape,” says Dr. Fayyad.

Open Insights has been productizing much of the Open Source big data technology stack to create accelerators and built-in methods that leverage AI and machine learning applications to deliver high revenue-generating use cases. With a clear picture of the client's business needs in terms of the data handled, the company can transform the data environment in less than 12 weeks. While achieving this, their expertise with Open Source technologies enables Open Insights to recommend the most appropriate components for storage, security, and analytics. "Our formula for success is the fact that we have a recipe that is not only designed to be incremental but is also designed to fit together iteratively, one valuable use-case at a time, towards building a true big data based solution that works," says Greene. In one instance, Open Insights helped a globally reputed telecom giant in Africa by presenting a high-value revenue stream, the customer value management, and data strategy to initiate its data as a service offering.

With its mastery of the big data space, Open Insights continues to equip clients with tools, capabilities, and methodologies that significantly de-risk their data capabilities for the future.The main goal is to help companies achieve relevance in the new connected commerce where the transition from simple transactions to interactions and then mapping these complex interactions into Intentions allows companies to create relevant and intelligent offerings to their customers. "It is important to educate the market in this new economy of interactions, and Open Insights is in a perfect position to navigate them through our Intent Architecture toward deriving high value from their existing data," concludes Dr. Fayyad.

Company
Open Insights

Headquarters
Bellevue, WA

Management
Dr. Usama Fayyad, Chairman & CEO and James S. Greene, Managing Director

Description
Open Insights help enterprises achieve relevance in the new economy of interactions through deploying data-driven solutions to grow revenue from structured and unstructured Data assets. Open Insights was created with the belief that we are now fully in the economy of interactions where enterprises must have the ability and capacity to be relevant to its stakeholders at each and every interaction. Our products, our services, our people, our IP and our approach to collaborating with our clients, are entirely focused on both shortening the time to scale of the needed data environment to optimize the Relevance of Interactions AND to considerably de-risk the journey of this transformation

Open Insights