4 Ways to Improve Business Under 1 Interconnected Lens
Since 2020 and now 2021, the workplace as we know it has been changed forever. Covid-19 and the surrounding events of the global pandemic have greatly flipped how we approach business and the overall professional world, where from remote working to conducting business in online spaces, the workplace has grown increasingly virtual and perhaps faster than ever.
Despite the problems Covid-19 has brought on, the business world has shown that it can be quite flexible and adaptive so long as technology continues to support the dynamic landscape we currently are in.
One lesson that we have learned from all this is the need to have information in one place. When employees are divided into their separate homes, how can they go about their work if the documents and data they rely on are scattered across various databases or file systems? Especially today, siloed information is a major hindrance to business, which is why organizations are increasingly looking for ways to store, manage, and understand their data in interconnected knowledge hubs, central repositories, etc.
What’s the newest approach on the market designed to break down these silos and facilitate knowledge sharing across multiple departments and activities? Here at Semantic Web Company, we call it Enterprise 360.
What is Enterprise 360?
The name Enterprise 360 stems from the idea of having 360-degree views on your business. Using semantic technologies, Enterprise 360 aims to combine all of an organization’s data – be it structured or unstructured – under one comprehensive knowledge graph.
If you picture the knowledge graph, one section is dedicated to HR, another to software development, another to marketing, and so on and so forth. This knowledge graph, which looks like a web of sorts, links all of these departments together so that all their business objects (documents, spreadsheets, videos, etc.) can be stored and viewed in one interconnected place.
Operating within this knowledge graph, the objectives of Enterprise 360 are as follows:
- Remove data silos to unlock strong collaborative capabilities
- Clean databases to reduce inconsistencies
- Connect the dots between business objects and departments
- Retrieve documents more easily with a visualized “map” of organizational data
- Uncover hidden information that can be used to make valuable business decisions
How can an interconnected knowledge graph with Enterprise 360 achieve these results?
While Enterprise 360 at its core is a high level methodology that achieves many things under an umbrella of varying facets of business, broken down into parts, it comprises 4 chief pillars. Each of these pillars, or foundations, touch on some of the most relevant and crucial aspects of an organization — that being its people, its customers, its products, and its markets.
These foundations often function as separate departments, though they consistently rely on each other to be successful. Noting that this is the case, Enterprise 360 means to connect these foundations so that they can help each other as they are intended to.
In no particular order, the following is an overview of each pillar:
Customer 360: enables greater opportunities for customer engagement and understanding. Companies can translate customer needs and behaviors into services and products that are tailored to their preferences. Here, this view looks at the customer life cycle from the moment they first initiate contact with your website to the movement they purchase something and so on.
Employee 360: informs employers about individual employees and their paths within the company. Strategic HR management can allow for better talent acquisition, refined skill management, and trajectory planning for workplace development. Employee 360 looks at and fosters a positive employee journey that starts at the recruitment stage and helps to develop skills during their time at your organization.
Product 360: increases the speed of product development and new services into the market. This view gives access to ways to improve the product life cycle in order to steer it in the right innovative direction.
Market 360: analyzes the market directly. Enterprises can better understand market profiles and segments to effectively communicate their market positioning and expertise to relevant stakeholders. Market 360 helps organizations use omnichannel marketing in order to develop strong brand presence.
Within each of these pillars, the following use cases can be applied:
Intelligent search with Customer 360: Suppose you work for an online retail company who specializes in selling furniture. You want to suggest relevant pieces to your customers based on what they’ve previously purchased. Using a knowledge graph with Customer 360, you can track customers previous interactions and make ads that are geared towards pieces that make sense. In other words, if your customer previously purchased a table, your intelligent search platform will target an ad for a chair instead of yet another table.
HR matchmaking with Employee 360: Suppose you are an international consultancy company struggling to find the right employee to oversee an important client project. Using Employee 360, you can build a recommendation system that matches employees to projects based on their skills and profile within the company that were tracked along the employee journey. Try our free demo >
Driving innovation with Product 360: Suppose you are a pharmaceutical company looking to develop and launch a new drug. The drug development process requires many arduous steps and painstaking review so that the drug is effective, safe, and compliant. Throughout the entire process, documentation is very important but hard to maintain. With the Product 360 knowledge graph, users can map all these documents and data so that potential inconsistencies are visible and all the relevant makers of the product can see how documents are connected.
Staying competitive with Market 360: Suppose you are a company who exists within a very competitive space like the tech industry. Thousands of products, companies, influencers, etc. are being born each day, so it is imperative that you stay updated in order to remain competitive. Using Market 360, you can chart what people are talking about by automatically extracting and analyzing information from influencers, publications, research papers, social media, news, and so on.
Separately, each of these pillars are quite powerful when supported by a knowledge graph that can map all the relevant pieces that contribute to daily work and success. Together, however, these pillars are most powerful. The important words in the case of Enterprise 360 – which puts all these pillars together in one overarching knowledge graph – are interconnected and interoperable.
When these 4 pillars are put into context with each other as they should be, they provide the most actionable insights and results. Consider, for example, that you are a marketing specialist wishing to communicate a new product release to your customers. To do your job, you need information from the product development team (Product 360) and the customer success team (Customer 360). In order to develop an engaging demo video about your product, you need technical documentation from the product team to understand how the product works, and you also want to look at customer profiles to see which visual appeals or language pique the interest of your customer base. With the comprehensive knowledge graph that combines Customer 360, Product 360, and Market 360, you can easily do this job without having to bother anyone else for the information you need.
The knowledge graph’s interoperability allows for you to get your job done faster while being able to access everything relevant to your task at your fingertips.
Enterprise 360 as the solution.
As we continue to go forward with changing landscapes and dynamics in the working world, interconnected approaches like Enterprise 360 are sure to be the solutions that stick. Where employees and business are physically separated due to external circumstances, building an interconnected “world” in the digital space means that all key stakeholders can continue to retrieve the knowledge they need.