TIBCO Software, an American analytics firm, said the optimal solution for businesses is a closed-loop insight system combining data, insight, and action.
Businesses are well aware of the necessity of data collection as a means of improving customer experience, enhancing the core product, and overtaking competition, but may be unable to seize any of these potential gains due to a lack of cohesion between the data, insight, and action systems.
TIBCO says the optimal solution for businesses is a closed-loop system capable of combining all three parts. Instead of data sitting in a lake, which regularly becomes a data swamp, businesses can see valuable insights from the software solution and have the confidence, through real-time analysis, to experiment on hypotheses without the significant risk factor.
The firm calls this closed-loop package the System of Insight (SOI), which brings together a swath of people with unique business acumen, improving the diversity of insight. Diversity can help businesses that may be blindsided in a certain area, allowing them to prevent mistakes and seize opportunities previously missed.
“With the data management, visual, predictive, and streaming analytics combination TIBCO delivers, you are sure to gain new insights to optimize business operations and take advantage of new business opportunities all while continuously learning and optimizing,” according to TIBCO’s white paper.
“The TIBCO System of Insight runs deep in your business, so much so that it acts like a digital nervous system. From historical data to real-time and predictive analytics, TIBCO is with you throughout your entire journey.”
Download the free white paper here.