Understanding the TCO Associated with External Data Integration has its Challenges
The exponential value of integrating internal and external (third party) data sources looks like 1+2=10. The insight gleaned from combining a business’s critical data with financial market data, sustainability metrics, benchmarking data, weather information, etc. empowers decision-makers to address the blind spots, better anticipate trends, mitigate risk and gain a competitive advantage.
Yet, this level of data integration has its challenges. The difficulties and expenses often arise when it comes to ingesting, supporting, updating, and harmonizing external data throughout its lifecycle. The in-house cost projections over the lifecycle of a dataset can be daunting, especially as organizations rapidly expand their portfolios to integrate new ESG (environmental, social, and governance) data, mitigate supply chain disruption, and meet the challenge of increased competition.
Hear from veterans in the field of external data integration as they discuss for 30 minutes:
- What is the definition of a dataset and why it is important
- Discussion of all the cost components and those most easily missed
- The commercial consequences missing any of the cost components
- Advice on how to handle the difficult conversations with internal stakeholders.