With an ever-growing number of data sources, businesses must be able to rapidly access and integrate them into decisioning processes using no-code tools to stay ahead of the competition.
Today’s customer journey has become increasingly sophisticated. As most firms that interact with customers can attest, this journey is a dynamic process shaped by a range of decisions.
Businesses need to decide what is the most compelling offer to deliver to a new customer. Should you approve their loan application? Could the customer gain more from sustainability-linked loans or greener mortgages?
What is rich data?
These diverse decisions are ideally informed by rich data. This is all the available data, including new data derived from analytics using advanced techniques such as Machine Learning and using rules to make predictions and to calculate scores.
While most firms have this data, it is difficult to gather, prepare and integrate into the decisioning processes.
Multiplicity of data sources
Data types and sources are growing. With regulatory bodies gradually approving the use of more data globally, businesses are faced with an opportunity dressed up as a challenge. Speedy integration of different data sources gives organizations a competitive edge, so finding vendors that can enable firms to utilize available data will positively impact them from a cost efficiency perspective, while also creating the potential for revenue growth.
The future is to empower business users with no-code data management
No-code data management capabilities add a whole new meaning to self-sufficiency for businesses. It will enable teams across organizations to rapidly change data-driven strategies without much vendor involvement. Gartner estimates that by 2025, 70% of new applications developed by enterprises will use low-code or no-code technologies, up from less than 25% in 2020.
Moving towards client self-service with no-code capabilties is the goal of most businesses. These capabilities are already allowing teams supporting clients to rapidly integrate data sources into their solutions, providing the perfect test ground for business user enablement.
If a decision strategy requires changes and a new data source, PowerCurve users can quickly adapt. They can now gather and prepare the right data and deliver it to the system within days. These changes can be instantly published through secure and easily adjustable APIs that support the latest industry standards and frameworks such as OpenAPI and OAuth.
An effective customer journey relies on informed decisions and these decisions rely on the right data and advanced analytics. While Experian’s PowerCurve platform is well known for automating a range of decisions across the customer lifecycle, it is the data integration capabilities that ensure these decisions are informed by rich data and insights. Creating a harmonious relationship that produces superior and trustworthy results for businesses.
No-code data management enables businesses with easy and rapid data source access to deliver rich and insightful data to decisioning processes.
