LORE: turn data into business insights

Creating intelligence in business decision-making is no longer a differential, but a necessity in building a strong and profitable brand. To this end, understanding what LORE is and how this platform can provide accurate, current, and reliable data is an important step in this direction.

To explain how this tool works in practice and what are the best ways to use it in your daily life, we invited Filipe Cotait, CEO of Stefanini Data & Analytics.

During this content, you will understand how valuable data is to maintain your company’s competitiveness, as well as discover how companies are already benefiting from this technology.

What is LORE?

“LORE is a DaaS (Data as a Service) platform, that is, you only pay for the data consumed, without having to pay for all the resources necessary for capturing, cleaning, processing and organizing the data”, explains Filipe.

It was created to offer users a complete analytical journey, regardless of the nature of the data used, whether external or internal. Therefore, LORE can deliver any type of public data from various sources — such as APPs, websites, and social networks — in an automated way and at scale.

What are the benefits of LORE?

This tool directly contributes to your company being able to extract relevant information from data, even if it is spread across different sources, creating a broad and unified view of current market conditions. See below what other advantages of the platform for your brand:

• Payment only on data: as the contracting model is “as a service”, your company only pays for data — from apps, websites, social networks, and other sources — that are delivered according to your demand, frequency, and need
• Zero additional costs: the platform guarantees flexibility for creating, expanding, relocating or updating data sources at no additional cost, so that new data sources do not cause an increase in expenses with capture structuring
• Easy storage: if there is a need to retain the data collected for the creation of historical records, it is possible to hire this service to consult whenever necessary.

How does LORE help with business process improvement?

By including LORE in the business routine, your team has access to all this infrastructure, as well as dashboards and customized reports to simplify the interpretation of the recorded information. This is only possible because the platform’s tools include AI, machine learning, and predictive analytics.

Facilitates decision-making

More and more business decisions are supported by insights produced by analytical processes that employ the best practices of each industry. They, however, depend on diverse, correct, continuous, and updated information so that the strategies adopted are aligned with the reality that the company faces.

Eliminates the need for a development squad

In addition to all the support in business decision-making, LORE offers an important means to overcome the challenges with the lack of qualified labor and knowledge in Big Data.

In practice, this technology offers great savings compared to the creation and maintenance of a development squad and infrastructure resources dedicated to data collection.

Increases operational efficiency

With access to data from various sources, your team is able to increase operational efficiency, reduce costs, launch new products, and meet new market demands. Thus, you focus only on the use of data, leaving the technological part to LORE.

Why use LORE in your business?

Using LORE in your business is an option to feed your business intelligence areas with updated data and constantly creating a differential for your business. According to Filipe, “the analyses applied to data help in the definition of strategies for action in various industries: retail, food techs/delivery, e-commerce, service companies and industries”.

In addition, he cites several uses of LORE that motivate companies to use this solution, among which are:

• Mapping of promotions carried out by large retailers
• Monitoring of product prices to the final consumer
• Mapping of payment methods accepted in commercial establishments
• Study of the products manufactured by an industry in its various sales channels, including the sale price to the final consumer
• Mapping of fuel prices with geolocation
• Customer prospecting, verifying that a certain product of theirs is not sold by a channel, however this channel sells from a competitor.

In addition, it is possible to integrate with various tools, according to the needs of your enterprise. Learn more about this topic below.

How to integrate LORE?

Integrations with other systems are essential to take advantage of the available tools even more and this is another of LORE’s differentials. Through it, your company can use data even more efficiently.

In this sense, Filipe points out that “The data delivered by LORE can be integrated in different ways and formats. At the beginning of the project, the client informs us how he wants to receive and integrate the data and, based on this definition, it is made available.”

It is worth remembering that having the support of Scala’s specialized professionals in the implementation of this tool is another differential that your company can take advantage of. Thus, the chances of achieving sustainable growth are even greater.

What type of company is LORE recommended for?

“LORE can be used by companies of any size, as long as there is a need to consume large volumes of data continuously. For example, a startup may have the need for high-volume data to generate its new product or business, as well as large companies,” explains Filipe.

He also points out that “our role is to assist the client in structuring and choosing the origin of the data, thus bringing the most appropriate data and at the best costs to the business objectives”. Once this study is done, the entire process of capturing and delivering the data is delivered by LORE.

Now that you know what LORE is and how it can help your business, how about starting to take advantage of all the advantages of this tool in your business? By relying on Scala and our tools, the chances of standing out in the market and increasing profitability are very high. Want to use LORE in your business? So, contact usright now and talk to one of our experts!