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Learning to Trust: What Businesses Need to do to Capitalize on Third Party Data Solutions

Learning to Trust: What Businesses Need to do to Capitalize on Third Party Data Solutions

AI

Why and how to build trust in AI third-party platforms 

By Kathy Leake, CEO Crux Intelligence

As recently as a few years ago, many businesses were still grappling with the decision of whether to incorporate data into their core functions and operations. While every company sat atop some store of raw data, many lacked the expertise, vision, or technology to make use of its data assets.

Today’s organizations no longer have the luxury of choosing whether or not to use data in their operations. With digitalization accelerating dramatically over the past two years, any business that chooses to ignore its own first-party data resources puts itself at a severe disadvantage — one which their more technologically savvy competitors will be happy to exploit.

But once a business has committed to pursuing data-backed decision-making, it must choose how to build or acquire the tools and strategies needed for success. While early adopters of data analysis often designed their own bespoke solutions, modern businesses now have the option of choosing from a growing number of third-party business intelligence (BI) platforms to perform these same tasks. To better understand how large enterprises are handling this divide, I spoke with Dr. Vikash Raj, Head of Analytics and Process Engineering at IDFC Asset Management Company Limited (IDFC AMC). In his work at IDFC AMC, Raj has taken significant steps to advance the company’s data practices; however, he recognizes that building trust throughout the organization—in both these new processes and in the third parties who are executing them—remains the most challenging hurdle for most companies in moving these initiatives forward…

Read the full article on Analytics Insight here

Alternative Text Crux Intelligence
Crux Intelligence is an enterprise-level AI platform that helps diagnose, predict, and prescribe what will happen in your business.