I recently wrote a Forbes article on leveraging the power of AI for your business. In this article, I highlighted two specific items from a broader framework to accelerate the generation of value.
- The first is the application of design thinking to analytics and AI initiatives. I explained using a realistic use case why it is vital to step back and understand not only the problem we are trying to solve, but also consider whether the solution truly meets the needs of users. In addition, it’s also important to think about the future business strategy and how our technological solution will support that desired direction.
- The second principle was that of creating closed loop analytics to amplify the ROI of your investments. I mentioned constant improvements of the data sources used for insights generation, and also the actual incorporation of insights into operations. These problems are not trivial so a robust data architecture and data pipeline model is important to set up.
To provide a fuller perspective, in this blog I wanted to briefly outline the overall framework for data science that we follow at Ignitho. This framework truly allows us to bring alive our mission of using human-centric engineering and AI to our clients.
The framework has 2 parts:
- The data science loop
- The underlying principles
Together these 2 parts help us unlock the potential of AI for our clients.
The article further adds to our journey of igniting thought through Ignitho’s strong focus on AI driven human centric digital engineering and thought leadership in digital innovation and transformation. This comes on the back of Garner’s study on Business Composability and CIO’s increasing dependence on AI for an accelerated business growth – Ignitho’s strong expertise in the area.
Enterprises and service providers often struggle with their data cycle management which needs a holistic view and not just restricting within the constraints of the service agreements. Data cycle management when backed by an efficient design thinking principle continues to dominate the AI and Data Science space, keeping the users at the centre of business growth and increased efficiency in business operations. Design thinking and end-to-end data framework generally do not get discussed by enterprises – a major phenomenon that is engulfing enterprises, not for good.
In my experience and in sync with what we continue to do at Ignitho Technologies, one needs to close the loop between the following 5 step Data Lifecycle:
- Data Strategy – Leverage decision insights from data derived out of a solid foundation
- Data Ops – Create resilient and effective data pipelines
- Compliance and Security – Reduce risk of data loss and privacy from the ground up
- Insights Generation – Generate insights that are not just predictive but also prescriptive
- Insights Operationalization – Making sure the insights are internalized into the right business processes
The closed loop Data Lifecycle Framework works as a self-sustaining model with set of processes and constant optimization. But how does one ensure that this Data Lifecycle is brought to life?
The value add of bringing the above framework to life is powered by Design Thinking – asking the right questions at the right level and focussing on internal and external user needs. Design thinking when done right, evaluates the customer’s point of view, while also considering the goals and objectives that the business itself needs to accomplish.
Not sure how to take the first step towards accelerating your AI adoption? Here’s our short Online Analytics Maturity Assessment which has been appreciated by CXOs across enterprises for the eye opener it has been for them. We are sure it will help you gauge your organisations AI adoption, do give it a try. The results are realtime across 5 dimensions and you can compare how your organisation scored over others. We would love to know your feedback.
We are at the cusp of new opportunities coming our way and our POD based tribes led by our CTO, Ashin Antony continue to scale up as experts in AI enabled human centric engineering. We are excited about this journey of igniting thought. Do let us know your feedbacks and queries.