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Code Halos

A Playbook for Managing at the Crossroads

OUR LATEST THINKING

Innovation Beyond The Four Walls

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July, 23, 2015

Cognizant Named a "Leader" in Business Transformation Consultancies by Independent Research Firm

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The Cognizant Difference

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BIG DATA ANALYTICS

We live in a world of data abundance, but are underwhelmed by paucity of insights. The sheer complexity of storing and indexing large data stores, as well as the information models required to access and make sense of them, is burdensome to all companies, regardless of size and industry. Uncovering new insights from big data – contained in both structured (transactional) data and unstructured/semi-structured (interactional) formats -- requires prioritizing, organizing and validating on the back end and employing front-end analytical tools that are accessible to knowledge workers. It’s bigger than merely changing out technology; it also requires a delicate overhaul of key knowledge processes to ensure that signal is applied and noise is discarded.

A well-executed big data program provides the opportunity to uncover hidden markets, reveal unmet customer needs and cost savings opportunities and drive game-changing, meaningful improvements in everything from shipping efficiencies to medical treatments, to social media campaigns and related digital marketing promotions.

BEST PRACTICES

Our work with leading clients worldwide reveals the following big data analytics best practices:

  • Establish processes and organizational structures, then choose the best tools to solve high-value business problems.
  • As you experiment, continuously refine existing processes -- and create new ones -- and acquire tried and true tools to support big data. Be cost conscious, of course, but focus primarily on agility and speed of decision making, as well as ease of use by non-technical knowledge workers.
  • Don’t underestimate the importance of master data management. The need for a single version of truth is especially true for big data analytics initiatives.
  • Train your staff in the databases, technologies and ontologies required to build, manage and extend big data capture and subsequent analysis. If you lack big data analytics skills, you are not alone. Consider analytics as-a-service to provide a cost-effective, standardized way of supplementing internal talent and adding horsepower to prosper from big data analytics.

A more virtual and globalized world requires businesses to work proactively and anticipate change before it happens. Big data analytics can help businesses meet this challenge, but only if they align tools, processes and organizational structures to advance operational agility and deliver business results.

  • Our Latest Thinking

How to Create a Data Culture
Here are six steps chief data officers can take to build a culture around information that's at the heart of today's business.
The New Payments Platform: Fast‑Forward to the Future
Today's bank customers demand digital payment instruments that support real‑time payments and settlements. While banks worldwide have adopted this concept, Australia's New Payments Platform (NPP), when contrasted with global models, takes this concept a step further with benefits that include all of the features today's bank customers want, such as 24x7x365 availability; real‑time settlement, posting in seconds, premier messaging standards and alternate identifiers. It is thus imperative to build a carefully planned, all‑inclusive NPP solution that will remain viable, profitable, efficient and serviceable from internal, regulatory, payments and customer perspectives alike.
Creating One Customer Journey Ecosystem that Meets All Banking Needs
The ability to aggregate and analyze customer data in one place rather than in silos empowers banks to apply forensic and predictive analytics with a lens across the entire institution.
Insights to Deliver a Connected Digital Customer Experience
By using a two‑layered framework, customer service organizations can begin to use Code Halos to intuit customer needs and desires. It also helps provide a more meaningful and engaging customer experience across channels.
Connect Your Insurance Customer Journey with Fundamental Needs
Digital companies successfully fulfill both implicit and explicit consumer needs. Here’s how insurers can do the same and broaden their value to customers.
Complaints Management: Integrating and Automating the Process
Manufacturers of medical devices are highly regulated and serve various types of customers. Today, these companies can take advantage of a cloud‑based, integrated platform, Cognizant's MedVantage™, to manage and resolve customer complaints and connect with them throughout the complaints‑management life cycle.
Power to the People: Customer Care and Social Media
The growth of social media, including Facebook and Twitter, offers many opportunities for businesses to connect with customers. Nonetheless, most companies still view social media as an extension of their traditional sales and marketing efforts; few are using social media to strengthen customer care and offer customers consistent, seamless and satisfying experiences.
A Next-Generation Approach to Integrated Warranty Management
For today's manufacturers, warranty management is one of the most tangible customer-facing functions. A next‑generation, closed‑loop warranty system can help companies automate and integrate warranty‑related data to enhance field service and improve the management of returns, repairs and claims.
Strengthening the Quality of Big Data Implementations
The increasing volume of big data has also increased the need to assure the quality of these critical assets. It is now essential for organizations to deploy customizable testing platforms and frameworks. An open, robust validation framework like Hadoop can significantly improve high-volume big data testing.
The Future of Retail is ‘Here’ and ‘Now’
To remain competitive in today's real-time world, retailers need to more effectively read and respond to consumers' digital fingerprints or Code Halos, to anticipate their preferences and needs and deliver contextually-relevant, timely and inspiring shopping experiences.
 

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