Monetize cross-functional enterprise data with TCS Dexam™
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Services
Data and Analytics
Smart Data for AI: Building Agile, AI-ready Ecosystems
Highlights
- Seamless data exchange at the enterprise level can unlock new possibilities for data monetization.
- Enterprises want to collate data from internal and external sources, understand it, and derive actionable insights from it.
- TCS Dexam enables data democratization, monetization, and commercialization while ensuring compliance with data privacy, consent, and security regulations.
In this article
Overview
Enterprises must explore new opportunities to monetize data through improved data exchange that returns higher business value.
Today, extracting value from enterprise and ecosystem data is a key challenge for many enterprises. Lack of valuable insights impedes decision making at a tactical and strategic level, and could also impact overall business.
Often, data resides in silos. Poor governance combined with potential data security, privacy, and legal issues could erode customer confidence. This may lead to branding and financial pitfalls too.
Solution
TCS Dexam is a data exchange and marketplace that works within and across enterprises.
The platform provides a secure framework for enterprises and their ecosystem partners to exchange, monetize, and commercialize data while managing privacy and consent.
Key features of the solution are:
- Data democratization: Enables search, discovery, and access to data sets. Dexam enables ingestion and collation of data from multiple sources through metadata-based ‘data products’ published by the provider or owner and ‘wants’ published by consumers in a business ecosystem.
- Data monetization: Provides a framework to extract value from internal and external data using both code-based and no-code-based mechanisms. Dexam provides no-code-based analytics and visualization capabilities that enable advanced analytics using machine learning algorithms through ‘pipelines’. The output of a pipeline as well as the pipeline itself can be shared with business users and data analysts.
- Data commercialization: Enables external data monetization (commercialization) while facilitating adherence to regulatory norms in the jurisdiction and allowing the parties to negotiate on price and terms of use.
- Data decentralization: Enables data access and consumption from various data sources by adhering to the data mesh architecture principles without storing data on the platform or the need for a data warehouse or lake.
TCS Dexam breaks cross-functional boundaries and enables controlled data exchange and improved data governance across the enterprise ecosystem.
Figure 1: TCS DexamTM – Data Marketplace
Benefits
Exponential value through seamless data exchange.
- Faster decision-making: Gain quick data-driven insights for better stakeholder collaboration across ecosystems through data democratization and monetization capabilities. Data is the key ingredient in AI engines—foster an environment that is conducive to faster AI adoption. From collating data from across different sources, to its pre-processing, analysis, and visualization, the entire process can be completed in a few days. Extract value from data and monetize it with granular level insights and personalized offers, services, and product bundles towards mass personalization.
- Seamless data access: Enable data democratization across the business ecosystem for seamless access to organizations, channel partners, affiliates, and business stakeholders.
- Improved data exchange: Redefine cross-functional boundaries for collaboration and monetary considerations through data commercialization.
- Secured data transactions: Adopt a no-storage-based approach to mitigate risks associated with data marketplaces and exchange data while maintaining privacy, consent, and governance.
- Leverage data mesh: Dexam is designed to orchestrate data exchange in a federated data ecosystem and can connect as well as source data from disparate data sources such as APIs, flat files, HDFS, cloud data stores, and streaming data.
The TCS advantage
We maximize business value through data-driven insights with TCS Dexam—a solution that powers data management and exchange across the ecosystem.
We help enterprises leverage the following key differentiators:
Extensive industry experience
- We have successfully delivered multiple risk, fraud, and compliance analytics solutions in the banking, financial services and insurance industry. These include analytics solutions to combat fraud on credit, debit, and corporate cards, checks and across different modes of payments like wire transfers and electronic clearing houses.
- In utilities, we offer a business model that is poised to evolve into a partnership-driven model. It hinges on data sharing since the industry is under tremendous pressure from governments and regulatory bodies. The urgency has emerged due to the growing environmental impact and the push for renewables as well as the increasing trend of consumers becoming prosumers.
- Logistics and supply chain—with COVID-19 redefining the rules of traditional supply chains, the emergence of collaboration and cross linkages across multiple disparate value chains is visible and can be made more efficient through seamless data exchange across the traditional and newly created logistics and supply chain ecosystems.
- Healthcare—the need for personalized medicine requires real-world data to be analyzed together—with traditional PubMed® data, provider data, patient healthcare, and medical information with the requisite consent management. This triggers creation of larger, healthcare-focused ecosystems across the world, where the key focus is secure and purpose-driven data sharing across multiple entities and stakeholders.
Research and innovation
- Our research and innovation hubs such as Pace Port™ inculcate thinking and collaborative research environments across technology areas such as AI, blockchain, advanced analytics, cybersecurity, and quantum computing.
