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Wednesday, April 24, 2024

Pivoting With Purpose: How Data-As-A-Service Can Drive Growth and Reimagine The Future of Business

Last updated Tuesday, March 26, 2024 22:30 ET

AI has the potential to revolutionize business, but organizations must integrate a data-centric growth model to tap into the value this technology can provide.

Arlington, Massachusetts, 03/26/2024 / SubmitMyPR /

Generative AI has become a market-redefining tool for businesses globally. Yet, the current approach to unleashing this technology’s power is short-sighted. PivotX Advisors (PXA), a data and generative AI advisory and consulting firm, advocates for businesses to move away from data-driven and shift towards data-centric growth. By taking this approach, organizations can surpass task-level productivity and simultaneously elevate value and revenue.

In the past few years, the tech world has transitioned from cloud migration and machine learning implementation to widespread generative AI (GenAI) experimentation. This explosion is expected to continue as the number of AI tools multiplies by the day, with businesses around the world aiming to democratize this highly influential technology. In this environment, businesses are determined to embed data and GenAI into every product, service, interface, and experience. However, this is not achievable without a solid data infrastructure that is equally enabled by AI and machine learning and cost-effective for enterprise deployment.

To design efficient, secure, and scalable data ecosystems, businesses must shift their operations from data-driven to data-centric. By this, PXA Founder and CEO Poornima Ramaswamy is referring to an evolved business model that monetizes data products by focusing on user journeys.

“Data and AI professionals should be seeking individualization and not just personalization, this is what Gen AI has the potential to drive,” Poornima shares. “By recognizing and valuing an individual's characteristics, preferences, and needs, rather than applying a one-size-fits-all approach, we could achieve unprecedented insights and data decisions that transform business. To get to this point, we need to begin seeing data as a monetization stream that gives businesses opportunities to create platforms for continuous productivity and customer experience. This is the strategy PivotX Advisors is championing.”

“At PXA, we help businesses navigate from data-driven decisions to data-centric businesses and believe that this requires a new way of thinking,” says Poornima. “We believe data products will become foundational in this journey but we need a unique approach to achieve this. Our data as a product approach is this unique framework and we believe it will change the business landscape. We transform use cases into use cases and user journeys, from user interfaces to user Experience, from data projects to data products, from IT business alignment to measurable business operating models.” Data as a product approach is a confluence of product management discipline, design thinking practices, and agile principles, applied to the data world.

In product development, designers take user personas, journeys, and needs into account when creating tools. They don’t create general-use solutions that will have a low impact. Most data and AI initiatives don’t consider the user journey and experience, Poornima says that high-potential solutions remain focused on task-level automation. They improve productivity as a one-time exercise, but they don’t leverage data and AI to continuously deliver more value to users, and compete with competitors.

Poornima Ramaswamy founded PivotX Advisors in 2023 to drive the creation of intuitive, cost-effective data-centric solutions that usher in a new era of business.

“Right now, investments, interest, and intent are aligned in the realm of AI, but we’re only seeing a sliver of what’s truly possible,” Poornima says. “By advising and consulting businesses on how to put data and AI at the forefront of their business model, society can use these technologies to drive our success. PivotX Advisors aims to help businesses of all sizes intentionally and strategically use data and AI to empower both themselves, as well as their employees. For businesses to truly shine, each and every person within the organization needs to grow alongside them. Our teams need awareness and training around how AI can elevate not only the business but also their roles within the organization. This will result in businesses taking a leap ahead of competition with a clear vision for scalable momentum.”

Poornima has over 25 years of experience in the data and AI space. She has a robust knowledge of how businesses, users, and consultants are operating in the industry, and recognized a gap in the market. By balancing a business and human solution mindset into her company, PivotX Advisors is uniquely positioned to provide the data and GenAI advisory and consulting services necessary for businesses to achieve individualization.

PXA has a suite of data and GenAI offerings that are designed to help businesses pivot into a data-centric growth model that will put organizational success into overdrive. Some of the data advisory and consulting services they provide include value opportunity mapping, operating model definition, and value measurement. For GenAI applications, PivotX Advisors offers skills assessments, personalized training, user experience and use case definition, rapid prototyping, and experimentation, and establishing GenAI CoE’s (Center of Excellence).

By collaborating with PXA, businesses can become more intentional and adaptable in the constantly evolving landscape of data and AI. Building sound data foundations will enable organizations to provide deliberate responses to unexpected changes.

“In the fast-moving tech world, data is the one constant that can help businesses understand what's happening, what's going to be impacted, what has already been impacted, and determine what actions are necessary to grow and manage risk,” Poornima says.

According to a recent survey, while 93% of respondents feel that data is essential for extracting value from GenAI, 57% have not taken any action to improve their data infrastructure. These figures highlight the importance for businesses to rapidly implement a data-centric approach. Not taking this step threatens sustainable success and underutilizes the groundbreaking capabilities of AI.

Media Contact

Name: Poornima Ramaswamy

Email: [email protected]


Original Source of the original story >> Pivoting With Purpose: How Data-As-A-Service Can Drive Growth and Reimagine The Future of Business