Published on by Pat Ramsey, Director of Technology
In today's digital age, businesses are finding it increasingly important to integrate their various software solutions in order to make better use of their data. As a result, companies are now looking at how to integrate data in a way that enables them to take advantage of the insights they gain from it.
In this article you will learn:
- The role of intelligent data warehouses.
- The differences between closed SaaS and Open Source Solutions.
- How modern digital landscapes necessitate a blend of Open Source and SaaS solutions for the best possible business outcomes for both business and customer data ownership.
- How leveraging Open Source as the centerpiece of your digital ecosystem allows you to maintain data ownership.
In an era where data is king, Crowd Favorite believes that data privacy by design is not just a strategic advantage; it's a necessity. Your choice of technology impacts data ownership and deciding between Open Source or closed Software-as-a-Service (SaaS) solutions can be crucial.
Create Intelligent Data Warehouses
The challenge for businesses lies in moving beyond the basic integration of software solutions, to the integration of data itself. Many companies use anti-churn practices to differentiate themselves, making it difficult to access and interpret the data they collect. Clients are now asking for solutions that include systems that consolidate large amounts of data from multiple sources and provide reporting and analysis - essentially intelligent data warehouses. This enables them to better understand and make informed decisions.
Closed SaaS Solutions
Closed SaaS solutions are generally proprietary software offerings (they may incorporate some Open Source software in their platforms) provided by a service provider. Users and businesses typically access the software over the Internet, and the provider manages the underlying infrastructure including all the system data. As a customer of the service, your business data ownership will be subject to the terms and conditions clauses necessary for using the service. The level of customization will likely be limited given a service provider’s need to interest the widest possible range of customers.
Users have to rely on the features and functionalities provided by the service provider, which may not align perfectly with their specific data management requirements. The ability to migrate your customer data may be limited as it is in the interest of the SaaS platform to keep users from leaving. If the provider ceases operation or terminates the service, users may face challenges in retrieving their data or transitioning to alternative solutions, impacting their data ownership rights.
Open Source Solutions
The “superpower” of Open Source lies in the open nature and availability of code. This fosters a large community of developers and users, enabling them to quickly learn and write new versions or customizations without burdensome licensing fees. The collaborative nature of these communities tends to foster transparency and open discussions around data ownership, privacy, and security, benefitting software users. This environment makes it easier to incorporate privacy features into your applications and if needed, customize it further for your business needs. In an ever-changing regulatory landscape for privacy, the ability to easily course-change and add new features is a huge benefit made possible by using Open Source solutions.
Your choice of technology impacts data ownership and deciding between Open Source or closed Software-as-a-Service (SaaS) solutions can be crucial.
– Pat Ramsey, Director of Technology
The Choice is Both
While it might sound like the choice is “either” SaaS “or” Open Source, the reality is the modern digital landscape requires a mix. Today’s marketing technology solutions are integrated - made up of multiple “off the shelf” services integrated to create your solution, meaning the best possible business solution for budget, time, and features is most likely a mix of Open Source and SaaS, or a “Composed Solution”. With a mix of services being used, it’s important to have the right workflow in place to prevent overcomplicating things for the different teams involved in the digital solution. Just because there are multiple services coming together in one place shouldn’t mean someone has to log into multiple accounts and have several browser windows open just to get work done.
Open Source as a Hub
Designating a “hub” that lives at the center of the solution is the key to having the most control over the various integrations while having the ability to keep things simple for the teams who have to build and manage all your content. Building this hub with Open Source makes this possible, allowing you to leverage all the advantages described earlier in creating the right custom solution for your needs. Keep control over your business and customer data, build out those optimal interfaces your team needs, build those powerful integrations into Salesforce, Hubspot, Data Studio, and all the other marketing technologies and most importantly - deliver the best experience possible for your customers while meeting various privacy requirements.
Open Source MarTech
See how Crowd Favorite helped our clients Emmys, Nvidia, and Academic Partnerships successfully leverage Open Source to deliver a true Omnichannel experience.
Save on The Cost Data Ownership with Open Source
The potential benefits of this approach are huge. For example, for large organizations, having live dashboards and alerts for executives can completely change the decision-making process. By providing real-time data, executives can make better-informed decisions and get instant buy-in from their team. By using Open Source solutions, companies save on the total cost of data ownership and can use that savings to innovate and invest in other areas, like AI.
The challenge for most organizations, however, is not affordability, but rather the operational capability to create a strategy that leverages the data. Businesses that fail to address this challenge risk being left behind by competitors who have embraced the benefits of intelligent data warehouses.
At Crowd Favorite, we believe in finding the right solution for your needs, whether it is a simple single platform or a more complex composed solution. Working as a partner and not a vendor, our team can go beyond providing simple solutions, walking with you every step of the way.