We get a lot of clients approach us with questions about going digital. Our brand new ‘Ask Integrella’ video series takes a closer look into common customer challenges, unpicking each part and showing your organisation the best direction to take.
In this video we explore data sharing and the challenges with opening up “your” data to third-parties:
Why do companies want to open up their data?
Traditionally, companies have tended to keep their data closed, so why would they now want to open it up? Normally, it comes down to one of these three themes:
- Revenue growth
- Reducing costs – by improving operational efficiency
- Improving reputation or customer experience
Examples of these are:
- Encourage efficiency between the systems, departments within your business and also more connection and collaboration between companies in your supply or value chain. This directly impacts bottom line profits.
- Companies that want to improve their customer experience by improving customer onboarding or other processes that can be time consuming. The challenge is that data is trapped in systems of record which make it hard to achieve
How can you open up your data?
APIs are what power this integration. Even if you are not intentionally sharing data via APIs through the “front door”, it is likely that you are exposing them through the “back door” if you have a mobile app or website.
What do you need to know before sharing your data?
Its really important to share data in a way that is secure, reliable and scaleable. Even some of the companies who you would expect are very good at sharing data like Facebook and Twitter have been exposed to “massive data breaches” affecting millions of customer accounts.
- High profile accounts have been hacked by “brute force attacks”
- System wide outages by denial-of-service attacks
The good news is that there are some products and tools that you can use to prevent against this. For example, using an API Management or a service mesh and various cloud platforms.
However, even when you have the right tools – you still need to figure out how to affect change in a lasting way and how you can setup a team to run the tools and processes on an ongoing basis.
That’s where Integrella come in.
We are active in this space do get in touch with us if you have any questions. If you found this video interesting and useful please give it a like and subscribe to our channel.