Is Data a Petrol Oil or The Sunlight?

by Anna Gorman

The amount of data is growing ― it is at least doubling every two years (IDC) thanks to digitization, internet penetration, social media and gadgets.

Whoever owns the data, owns the world. Telecom operators have been gathering plenty of data and they have already been making profits out of it. For example they sell data to city administrations to optimize city infrastructure or retails to study to customer streams. Is data an oil, after all? Especially customer data.  

Most probably, yes! Though there are public projects based on open data, starting from the Game of Thrones episodes and finishing with trends detection in prescriptions (Polymatica had that kind of project). Still the most valuable data is not available to everyone.  

Just as petrol oil had changed our live, together with transportation systems or plastic, so the data will transform traditional fields and approaches.

Access to the insights, provided by data, allows reshaping different fields. In particular, it transforms marketing, with many companies declaring themselves client-oriented. It means, that they can work, using in communications microtargeting and other practices, aimed to personalize interactions. They will study client responses to price changes or service level adjustments in order to execute the most optimal marketing mixes for each segment. The efficiency of this approach has been proven already by many big retailers and service companies.

Data analysis requires appropriate tools. This is particularly important for customer analytics, where time in most cases is the decisive factor.

Polymatica is a hyper analytics and data science software company. It develops a technology that enables the processing of large amount of data in the original level of detail in seconds. How big is data? A small bank owns just tens of millions of data rows. A chain of gas stations with 3000 stations around the country generates about 200 million data rows per month. A supermarket chain might produce billions of data rows per week.

Why the original data is important? Data aggregations which are used for dashboarding lead to decrease in credibility, due to such differences, as, for example, rounding off rules. That could potentially result in erroneous management decisions. But what is more important original data can answer all the questions: how many times client A purchased Brand B and Brand C, he is price sensitive, what his reaction is on campaign D and E, how many children he has, how often he visits our store and when we expect to have him again and so on.The data has to be the starting point, or ultimate truth, to have true value.

But data is a very technical thing. It is stored in servers in databases and to get it you need to know SQL, Python and many other smart thDings. The aim of Polymatica is to become a bridge between data and business for every manager to find insights whenever he or she needs it. On one hand it sounds like a usual thing ― we are used to informational systems to make our life easily. On the other ― it is quite unique because without special knowledge you can interact with big data in seconds.

And time is the scarcest resource in the modern world. Polymatica makes timing wins possible, that allows to create new competitive advantages for modern oil producers and to derive maximum value out of its petrol oil.

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