This was the message from Neural Technologies’ VP of Marketing Claus Nielsen on the second day of TM Forum Digital Transformation Asia, as he delivered a seminar speech on the importance of ‘Standardizing Event Data Collection and Management’.
Nielsen said, “It is imperative that in order to make digital transformation journeys possible, that initially, Digital Integration is given the highest priority. Standardising Event Data collection and management of such Event Data is essential for the rest of the digital transformation journey to have any chance of ending in success.”
Nielsen added: “We are seeing up to 70% of digital transformation projects that Communications Service Providers (CSPs) are embarking upon failing. This is too high a number and it is statistically shown that one of the biggest contributing factors to such failure is the ability to get access to the Event Data as well as the right structure of the Event Data needed to be able to digitise various business processes as part of your digital transformation journey.
“This can be solved by approaching it in an all-encompassing, end-to-end way that takes in all aspects of Event Data collection and management. Such includes collection of the Event Data, classification of such Event Data, and how this Event Data is stored by using a standardized data model thereby making it primed for downstream consumption.”
Event Data is generated by logging uses, events, or transactions which have been generated or triggered by people, machines and services. Examples are switch Call Detail Records (CDRs), Internet of Things (IoT) data points, or customer related activities data like orders, invoices, payments and complaints.
The ideal platform to manage this, Nielsen suggests, is one that combines maximum flexibility, scalability to handle increasing volumes and effective management of such Event Data once it has been collected.
To prepare for a truly open and connected world, particularly with the advent of the Internet of Things (IoT), connected devices thanks to incoming 5G connectivity, Neural Technologies has recently heralded the release of the Optimus Ecosystem, powered by Optimus – an all-in-one highly configurable Event Data Lake Platform with built-in end-to-end dynamic orchestration.
Optimus ultimately delivers on the promise of the enterprise’s digital transformation strategic goals by eliminating the risks of digitizing end-to-end business processes combined with an overall lower investment.
Offering exceptionally high levels of scalability which allows the enterprises to digitize and integrate increasing Event Data volumes. Optimus also has built in Event Data Lake which has the capability to manage and store infinitely scalable volumes of Event Data, whilst effectively collecting and distributing Event Data in any acquired or distributed format or protocol.
Visitors to TM Forum Digital Transformation Asia were able to see the functionality and features of Optimus as Neural Technologies demonstrated it as part of the catalyst project: ‘5G Pâtisserie – The Search of a Secret Recipe for Seamless 5G Network Slicing’.
The 5G Pâtisserie catalyst project was executed in partnership with several other top-tier companies such as Globe, KDDI Research, Singtel, Ericsson and Infosys, which took place throughout the entirety of the TM Forum Digital Transformation Asia event.