Adobe, SAP, and Microsoft introduced the Open Data Initiative, a new project which aims to connect and unify data across an organization and deliver an impactful customer experience.
Going digital as a business is no longer a luxury, but rather a necessity you can’t afford to delay. Digital transformation is on the top of the priorities list for every executive, while companies are trying to drive their businesses forward by transforming their organizations on every level- product, services, operations, employees etc.
However, in order to align the digital transformation in perfect tune with the company’s profile and clients, one must truly understand their audience, their needs, expectations, and behavior. This is the only way to deliver a consistent experience that customers now expect in a highly competitive world, and the only way to drive loyalty.
We always say that data is gold, but only if it’s accurate. Collecting data swiftly, in real time, and then being able to quickly analyze it and generate powerful insights is the best way to deliver relevant customer experiences at scale.
Establishing comprehensive tracking across all areas of your business and enabling a great data collection is one of the most difficult processes a company has to deal with when going through the stages of digital transformation. Many companies lack the infrastructure or the know-how to generate insights from the data they collect, or, in some instances, to collect relevant data altogether.
This is the reason behind the birth of the Open Data Initiative, introduced by Adobe, Microsoft, and SAP, which will help companies take a leap forward in solving enterprise data challenges.
The Open Data Initiative will enable a flow of connected customer data – behavioral, transactional, financial and operational, to deliver to the companies a holistic, end-to-end view of their customer, for real-time actionability.
This announcement has the potential to be a game-changer in the industry and have a great impact on how businesses operate. Companies often face limitations on the insights they can generate with the data they collect because it is stored in disparate places, both within the organization and via third-party providers, difficult to connect.
If ODI can provide organizations with an easy way to ensure a unified view of the data, it might drive the data analytics industry one step forward.
Most of the companies search cloud-based solutions, in order to free themselves from limitations generated by fixed infrastructure. Since ODI is cloud-based, it will force other cloud solution providers in the industry to step up their game and provide unique or niche features to stay competitive.
So, what is the Open Data Initiative?
Many companies rely on a variety of products developed by the three ‘ founding fathers’ of the Open Data Initiative, in areas from marketing and sales to HR or product.
The purpose of the program – as stated by the initiators – is to create a stronger interlink between Adobe Experience Cloud, Microsoft Dynamics 365 and SAP C/4HANA and S/4HANA. This will be accomplished by joining the platforms via a common data model, which will be highly beneficial for the users. This will allow companies to choose the tools and apps they need from the joint platforms and therefore provide an extensive flexibility and scalability.
In their presentation, Adobe emphasizes the three principles behind the ODI:
- Every company will have complete & direct control of all their data
- Ease of generating insights from behavioral and operational data via AI-driven business processes – which users can choose to enable or not
- A complex ecosystem of platforms that users can leverage
Adobe’s new project will be built upon the Adobe Experience Platform, previously known as the Adobe Cloud Platform. The new platform will use Adobe Sensei – a powerful Artificial Intelligence software Adobe is betting on – to synthesize the customer data in one place. The AI software enables faster decision making, by uniting data under a common data language – XDM (Experience Data Models).