- Feb. 7, 2020
-- As organizations look for ways to deliver data-driven customer experiences, many executives have focused on building out their data infrastructure to capture, store and share the explosion of structured, unstructured and telemetry data being generated today. Infrastructure alone, however, will not be enough to develop and implement effective customer engagement strategies, according to Jason Davis, co-founder and CEO of New York-based Simon Data, in a thought leadership interview with BizTechReports.
The recent surge in data infrastructure implementations has largely been driven by organizations that have invested in emerging technologies -- like the Internet-of-
Things (IoT), artificial intelligence (AI), machine learning and big data data analytics -- to support comprehensive digital transformation initiatives designed to bring them closer to their customers.
Analysts at IDC expect spending on AI systems alone to reach $97.9 billion per year by 2023, more than two and one half times the $37.5 billion spent in 2019. As the conversation about capturing and analyzing the growing array of data evolves, the next phase of discussion will focus on how best to harvest insights from these infrastructures.
"Businesses are making significant investments in data infrastructure and have fairly well defined data strategies,"
Davis says. "But these efforts will not be sufficient to build truly data-driven customer experience organizations."
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