Enterprise software giant SAP has announced the launch of its new service that helps enterprises harness the data they have generated to bring out its true value. SAP Data Networks will help enterprises turn their transactional data into helpful insights using data analytics enabling them to create new value from their own data.
This might be in any form for that matter. The data, when harnessed efficiently, can provide insights to create new value in the form revenue, efficiency improvements, opportunities and better customer experience. In the age of data driven development, data or harnessing the generated data holds the key to obtain a competitive edge over competitors and the SAP Data Networks does just that.
“Our services enable customers to unlock the value in their own data — whether it’s top-line growth or bottom-line improvement,” said Helen Arnold, president, SAP Data Network. “Drawing on the power of SAP HANA and our team of highly skilled data scientists, we harness the transformative power of connected data.”
The new service from SAP, which is completely data driven as you might have guessed, will help companies and their executives plan, predict and benchmark their business scenarios using aggregated data.
Like any other data analytics tool, Machine learning is the basis of the service. The SAP data Network also uses natural language processing to first normalize the business data and then the AI kicks in to enrich it to provide enterprises the value for their data, all the while, maintaining the world-class standards SAP supports for data privacy, security and retention.
“Not all data is created equal. We place highest value on real-time transactional data and trusted supplemental third-party data,” said Arnold. “Business value is rapidly realized through a standardized process that begins with three days of ideation. A prototype is then developed in four weeks, and a company can begin to reap the benefits in nearly three months. Thus, customers can test desirability, viability and feasibility of data-driven services in weeks, as we fuel their agile innovation.”
The product is set to deliver models based on predictive analytics coupled with SAP’s famous recommendation engines that are embedded into the business processes itself. With this, enterprises can benchmark their operational procedures and execute from insights to action in real time.