In the era of Big Data, many enterprise executives are struggling with the sheer volume of available data and how to transform all that information into intelligence they can use to make the best business decisions. Typically, they try to determine exactly what data is available and then apply it to a specific question or problem. Unfortunately, this is an ineffective strategy, returning only fifty cents on every dollar the enterprise invests in traditional Big Data solutions.
To help enterprises achieve the maximum benefits from their Big Data, Third Eye Consulting Services developed for AbsolutData a whole new approach to Big Data analytics. Using AbsolutData‘s “Decision Engineering” model, along with the power and flexibility of the Google Cloud platform, Third Eye Consulting developed the NAVIK Converter application which allows enterprises to increase their lead-to-conversion rate and enhance their return on investment in Big Data.
The underlying concept of AbsolutData’s decision-engineering approach is to first identify specific decisions the enterprise must make and then work backward, using data and analytics to optimize every aspect of the project. For example, applying decision engineering to lead conversion enables enterprise executives to use data and analytics not only to identify consumers but also to optimize, in real time, the channels, marketing messages and even product features that influence these consumers’ purchasing decisions.