Building Blockchain into the Data
Blockchain’s decentralized and distributed trust model is already disrupting business processes. As these processes get replaced by newer more efficient methodologies, newer KPIs and metrics will emerge to understand the intricacises of the underlying business. Existing data management and analytics capabilities must be recast to provide for additional competencies, risk management, and uncovering potential opportunities.
With Proteum’s extensive data analytics capabilities, blockchain based networks can simplify data access and consistency throughout their network of participants. Use cases such as auditing, fraud and risk management can be built into the data structures, providing a unique snapshot of the transactions.
For CDOs, CROs, CMOs and analytics leaders exploring blockchain, it is imperative that they lead from the front and embark on building their own KPIs on top of the data and governance foundations that they already use. Rather than churning data lakes, it is easier to find a few proof of concepts that support their business goals and identify the gaps that need extra support. Plugging these holes in the data strategy will go a long way in developing analytics-driven KPIs for their blockchain initiatives.
Proteum can help put blockchain on your data and analytics strategic roadmap.