BMC, a global leader in software solutions for the Autonomous Digital Enterprise, announced a strategic relationship with the University of Oxford Saïd Business School that includes membership in the Oxford Future of Marketing Initiative (FOMI) and a three-year innovation research project. The research will investigate the unique challenges and trade-offs faced by large multinational organizations in highly regulated industries while identifying best practices for unlocking the business value of data by leveraging AI.
“In data-driven economy, large multinationals are increasingly recognizing the potential value of data for driving business growth, enhancing operational efficiency, and improving the decision-making process,” stated Pinar Ozcan, Ph.D., Professor of Innovation, Saïd Business School, the University of Oxford. “We look forward to collaborating with BMC on this research project to uncover the different approaches and best practices that organizations can adopt to derive value from their data and AI.”
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Organizations face multiple challenges in leveraging their data due to the varying data formats and structures, hindering data integration and analysis. Organizations must navigate complex data privacy regulations, data protection laws, and industry-specific guidelines in highly regulated industries like finance and healthcare. Achieving compliance requires substantial resources and expertise to ensure that data collection, storage, and sharing align with legal and ethical requirements. Through this research initiative, BMC and the University of Oxford Saïd Business School will identify the challenges organizations face using existing data and acquiring new data to drive business value while recommending best practices organizations can embrace to overcome those obstacles.
“We’re thrilled to collaborate with the University of Oxford Saïd Business School on a joint, impactful innovation research program and their Future of Marketing Initiative,” said Ram Chakravarti, senior vice president, and CTO at BMC. “We anticipate the in-depth interview-based research will uncover findings that have yet to be identified through other research efforts, and we look forward to using this data to more fully understand how to support our customers and partners as they navigate the journey to better realize the value of their data. Involvement in FOMI gives us not only incredible access to industry thought leadership and scientific, evidence-based research, but also highlights our shared value to have a real impact and influence on the business world.”
SOURCE: PRNewswire