Data Should Drive Everything!

It is not a secret that organizations that base their strategic and operational decision-making processes on data perform better than their peers. Data helps avoid missteps, helps improve performance, provides incremental insights, and can even be the basis for new services. Data can even be used to improve the customer experience thereby increasing net revenues.

But, more often than not, such conversations provide little guidance on how to tap into these benefits in a way so incremental costs do not erase any potential business gains.

What The Don’t Tell You

First-generation data systems were designed around a specific need. Data was collected and fed to an application that was analyzed in order to generate findings that were of value to a targeted set of customers. These systems were specialized systems designed to support specific needs of highly targeted customers. However, should the needs evolve, requirements change, or if the desire was to use the data for some other purpose, costs would rise dramatically if such system enhancements were even possible.

As organizations continued to increase the number of such targeted systems to their system architecture, functional silos began to form. Under such a silo structure each silo had its specialists leading to high operational costs and it was difficult to reuse the data in one silo for the benefit of another silo. Many organizations even went as far as deploying duplicated IoT devices in the same network when they discovered it was easier to replicate costs than to force two silos to share data.

The net result of such application-driven implementations is that the benefits of the application are capped and costs often begin to rise after the system is initially deployed.

i3 To The Rescue

i3 was developed to meet these challenges. i3 takes the position that data should be managed as a valuable corporate asset and NOT as an application consumable. The i3 team studied how the financial industry manages the flow of money between organizations and adapted their learnings to the emerging data market. The i3 team also considered how the gig industry manages customer expectations by making them an active participants in the process and adopted those concepts to the data economy. The i3 team also studies collaborative business processes, examined trust as the basis for commerce, marketing, commerce, and evolving privacy regulations in order to create a system that systemically serves current data management needs and provides a path to solving future needs as well.

The i3 system begins with the concept that people who own IoT devices or applications that produce data are data owners. Data owners are willing to give others rights to use their data if they approve and trust the requesting entity and have the ability to set the terms of the exchange. Further, the exchange of data must be facilitated by an independent system that manages the exchange and can arbitrate the resolution of problems that might arise.

How Do You Do That

i3 was designed to manage the exchange of data between those with data and those in need of data. i3 can be easily integrated into existing data flows through the use of API adapters. i3 supports simple API adapters that might be less than three lines long and it also gives users the ability to create adapters that perform complex message transformations. Access to data is managed by an approval protocol that provides the needed level of transparency between data producers and consumers. Control structures are then provided to allow the parties to alter exchange conditions in a way that is acceptable to the exchanging parties. Of course, data exchanges are tracked and managed in a way that allows future disputes to be quickly resolved.

Next Steps

i3 can be used to manage the data flows between departments within a larger organization. It is an ideal solution as a data manager that processes the exchange of data between ecosystem participants that includes subcontractors, suppliers, distributors, and even customer-partners (customers. It can also be used to manage cross-border data flows.

As a software manufacturer, the i3 software can be used by organizations to oversee their own data flows are we encourage our customers to open their i3 nodes to others by selling data exchange services to outside parties as well. We encourage you to peruse the i3 catalog and configure your own i3 system.

Browse the I3 Systems Catalog