What are 360-degree views of an enterprise?
Accessing holistic knowledge across four core processes:
Customer 360, Employee 360, Product 360, & Market 360.
While Customer 360 on its own is seemingly taking off, it is considerably stronger with the support of other 360-degree views – namely of other fundamental departments of a business. Along with customer insights developed through Customer 360, these departments are focused on insights developed towards an organization’s market, its employees, and its products, which altogether, form a business strategy called Enterprise 360.
Though Enterprise 360 is a relatively new name on the market, the methodology around it is built off of the longstanding belief that the more insights a person is given about their business, the better they can make decisions and boost customer satisfaction. Baked into a powerful knowledge graph that serves as an umbrella to connect all structured and unstructured data, Enterprise 360 grants you 360-degree views of your business in 4 crucial aspects: Employee 360, Product 360, Market 360, and Customer 360.
Why do we need 360-degree views? The current challenges.
Many organizations experience a myriad of problems that are brought on by having to maintain extensive amounts of diverse data and documents. The following are a few of the most common issues:
Perhaps the marketing team would like to run an analysis on products that have garnered the most customer attention and support, or maybe they want to understand how the product itself works in order to create content for product campaigns. How can the marketer do this when all the information sits in the product management silo that is sectioned off from them? As a result of data silos and a lack of sharing, employees on average spend more than 25% of their time searching for the information they need to complete their tasks – effectively wasting productivity and money.
Too much data, not enough knowledge
Broken down into parts, they mean this:
Data silos = critical information is spread and sectioned off into too many places
Multilinguality = no universal or central vocabulary is being used across a database
Data with no knowledge = different data points and business objects are not being connected to generate valuable insights
What’s the solution? Link & learn with Enterprise 360.
Why a knowledge graph for Enterprise 360?
It is very easy to get lost in a spreadsheet that contains rows upon rows of data, and they do not really begin to generate insights until the data has been visualized via comparative charts, graphs, etc. Even more, these spreadsheets, while effective for numerical data, do very little for unstructured text or multimedia-based data, which makes up the bulk of organizational data.
Knowledge graphs link and visualize data, content and topics to be integrated henceforth as a ‘context engine’ in various applications, e.g. search engines or recommender systems.
Under these 360-degree views, users of the knowledge graph can identify meaningful relationships within their data, as well as eliminate data inconsistencies.
These foundations often function as separate departments, though they consistently rely on each other to be successful. Enterprise 360 means to connect these foundations – Customer 360, Employee 360, Product 360, and Market 360 – into one interoperable landscape so that they can help each other as they are intended to.
The Customer Life Cycle
Personalize customer experience with Customer 360.
The Employee Life Cycle
Develop valuable employee journeys with Employee 360.
Using a knowledge graph supported by Employee 360, you can link all this relevant information together: you can import external research you have conducted about average salaries into your knowledge graph and compare it to your company’s budget, you can map the necessary skills and compare them to incoming CVs to see if the candidates match your needs. Once you have hired an employee, you can continue to build on the knowledge graph by adding onboarding information such as relevant passwords and sites, training materials etc. The point of this exercise is to have a knowledge graph that acts as a knowledge hub of sorts, that both employer and employee alike can access to manage the life cycle and facilitate continuous enrichment in their time at the company.
The Product Innovation Life Cycle
Drive innovation with Product 360.
Competitive markets and audiences
Gain competitive intelligence with Market 360.
Want to hear more?
Check out our webinars about Enterprise 360 & Knowledge Graphs.
The Key to a Successful Digital Transformation
5 Use Cases & 10 Steps To Get There
The Art of Developing Valuable Employee Journeys
Development steps towards Enterprise 360: Crawl, Walk, Run, & Fly
The advantage to working with PoolParty to achieve these holistic, 360-degree views is that you can have all these tools and stepping stones in one software.
In a broad sense, taxonomy is the method used for classifying data and content into relevant groups and hierarchies. A taxonomy is similar to a library catalog where in any given library, you can retrieve a book based on how it is classified: author last name, book genre, and so on.
An HR business taxonomy can classify objects similarly: high-level concepts such as Job Roles, Office Locations, and Skills remain at the top of the taxonomy → under Job Roles you can organize departments Sales and Programming → under Sales you can organize the specific roles Account Executive, Sales Representative, and Customer Experience Manager.
If you are an ecommerce retailer selling clothing, for example, you might organize your taxonomy into Summer vs. Winter clothes. The next level contains Winter Coat, Sweater, Snow Boots. For each of these concepts, you can tag them with bundled synonyms, multilingual terms, definitions, etc.; in our example here, a Sweater can be described with alternative names and languages – all the information shown in the highlighted box serve as the tags.
An entity extractor and natural language processing can help you pull out all the key terms in your documents and make sense of them, which can help you in a variety of ways such as research, contract analysis, etc.
Suppose you are a travel company whose website uses standard search functionalities. A customer of yours has just booked a train trip from Vienna to Milan, and your website automatically recommends other dates or trips for the same route even after booking. The website knows it should display some sort of ad to persuade more purchases, but in this case, additional train tickets are counterproductive because it is highly unlikely that the same customer will purchase the same trip again. The advantageous next step in this case is to recommend car rentals, excursions, and hotels in Milan, which a semantic recommender system can do because it has been trained to make enhanced “pairings” based on user input and activity.
Customers of Amazon’s Alexa can speak the sentence, “Alexa, what’s the weather today?” and Alexa, built off a question-answering system can respond in the same conversational language. Internally, an HR Manager can use a question-answering system to type in the question, “Who can program in Java and uses Linux?” and the system will retrieve all the relevant employee profiles in the database. The key here is that the system can read, understand, and respond to conversational text – ultimately allowing users to have more precise, tailored searches without having to worry if they’re using the correct language or specific keywords.
Fly with Enterprise 360
All these steps are supported by the enterprise knowledge graph which culminates in the Enterprise 360 views. From the building blocks of taxonomies and ontologies, the enterprise knowledge graph is the representation of all the terms, concepts, and relationships that were defined. The knowledge graph is further enhanced through text mining and entity extractors, which serve as the basis for natural language processing techniques that develop complex search tools. The knowledge graph is combined with advanced semantic capabilities and machine learning to make intelligent pairings in the recommender system and smart searches in question-answering systems. What you get with all this is an advanced set of tools that only help you to build internal processes that ease tedious workflow, search platforms that better the customer experience, and a comprehensive, holistic view of all these systems working together.
Enterprise 360 is the result here, where you can have all these benefits in one interconnected lens that allows you to have a rich understanding of all your moving parts. Using Enterprise 360, you can remove common data inconsistencies since all your data and content is linked together in one knowledge graph that can help make any errors visible. The practice of having 360-degree views over your data epitomizes data governance, which is a set of principles and standards that ensure your data remains at the highest quality that you can manage. When you have access to all sides and angles of your organization, only then can you really gain control of your assets and make informed decisions.
Being informed about all the key foundations of your company is paramount, and why the methodology of Enterprise 360 exists.
Customer 360, for example, helps you understand your customer to provide them a tailored service and experience. Employee 360 allows you to have strategic HR processes that help you and your employees navigate the employee life cycle and produce fruitful workplace journeys. Product 360 compiles all necessary product documentation and industry demands to ensure that you can quickly deliver quality, innovative products to your stakeholders. And finally, Market 360 allows you to keep up with ever-changing trends and develop strong messaging that you can disseminate across the right channels.
Altogether, these views comprise the ultimate picture with Enterprise 360 – eliminating data silos and increasing data governance that only gets better over time. With the right roles, workflows, and responsibilities in place, you can highlight all the gaps that exist in your data to ultimately make your business smarter and all your relevant stakeholders satisfied.
Interested in learning how you can fly with Enterprise 360? Talk with an expert to discuss how PoolParty could be the right fit for you.