Data enrichment is a shortcut to quick wins
Now we know that AI is hungry for concrete and actionable data, what avenues are apparent for us to boost the value and speed of predictive analytics projects? At a strategic level it suggests an immediate broad objective for the business data model, a reorientation to real data objects and a paring back of abstracted data collection. At Lightfold, we call this the AI First Strategy (Watch this space for more on the AI First Strategy!). From a tactical perspective it means that data enrichment is king. Expanding the scope of your data that meets AI requirements is a fast way to readily expand the potential use cases of predictive analytics. Put simply, the more you know, the more you can predict, and the better your predictions will be.
Like DQM, data enrichment is often chucked into the ‘too hard’ basket. And historically this has been pretty reasonable for a market like APAC, where we just don’t have the scale of other economies like the US or EU. That’s all about to change. Lightfold has partnered with Precisely, who are the recently rebranded Pitney-Bowes Syncsort, an entity with an impeccable 30-year heritage in data handling, processing and transformation. Working together, Lightfold and Precisely are bringing new data products to market that provide quick wins for businesses looking to expand their customer data footprint.
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