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Tim Jennings, Ovum - Business At The Speed Of Thought  - BI Symposium 2012
 

Tim Jennings, Ovum - Business At The Speed Of Thought - BI Symposium 2012

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  • So this is how transformation looked during the Industrial Revolution. And across these and many other examples, we can see some common factors that drove these changes. There were new and improved sources of power (primarily steam), which coupled with other inventions enabled vastly increased mechanization. There were changes in process, away from the domestic craft system, replaced by the factory system and division of labour. There were dramatic increases in network bandwidth and speed – in this case, the advent of the canal and rail networks, together with improved roads. Knowledge transfer took place on a broader scale, with entrepreneurs making study tours to other countries to learn new practices. And improved extraction and fabrication techniques gave improved access to raw materials and chemicals. This must have been a very exciting time to be involved in the dramatic business and industry change that was taking place.
  • So I believe that this digital transformation is taking place in a very systematic way across all industry sectors. And as with the Industrial Revolution, there are some common factors that we can see from these examples. Optimization of business processes is particularly important, both from a cost saving perspective, and from a speed and efficiency perspective, as the velocity of business continues to increase. Greater attention is now focused on the customer and the citizen, with the aim of providing a seamless multi-channel experience, and of using customer information to maximize customer value and loyalty. In the customer domain, in supply chains, and in performance management, analytics are being more widely applied to drive optimization and provide insights for decision making. The growth in fixed and mobile communications networks means that customers, employees, and the physical environment are always-on in a connected society, and this is changing working patterns, and creating new business opportunities. It’s also an example of the way that operational and information technology are converging: an IT system today is as likely to be an integral part of a business asset or business process rather as it is to be sitting in a data center. But if there is one common theme that I feel links all these factors, it is the role of information as the key driver, and often the differentiator, for business. Today, it’s often not WHAT you do, but the WAY that you do it that counts – providing better information, a better customer experience, a faster service, or doing so at lower cost, that differentiates the most successful organizations, and the way that they exploit information is the key to this.Speed and velocity is importantCustomer expectation of how an intelligence an organization is has gone upSystematic optimization rather than point innovationsPace and customer centricityCombine FS into one slide

Tim Jennings, Ovum - Business At The Speed Of Thought  - BI Symposium 2012 Tim Jennings, Ovum - Business At The Speed Of Thought - BI Symposium 2012 Presentation Transcript

  • Business at the speed of thought: a manifesto 26th Nov 2012 Tim Jennings, Research Fellow and Chief Analyst, Ovum IT Email: tim.jennings@ovum.com Phone: +44 7715 748947 Twitter: @tjennings1 © Copyright Ovum. All rights reserved. Ovum is an Informa business
  • Agenda  Industry transformation and the data-driven enterprise  The culture of decision making  Data management and quality  Evolving the analytical architecture2 © Copyright Ovum. All rights reserved. Ovum is an Informa business.
  • Industry transformation – Henry Milward & Sons  Established 1730 in Redditch, Worcs.  Manufacturer of needles and fish hooks  Cottage industry became mechanised, first using a water-driven scouring mill  Introduction of steam power enabled further automation  Local market for glove makers, saddle makers and weavers expanded into a global market  Canal and then rail network provided easier distribution3 © Copyright Ovum. All rights reserved. Ovum is an Informa business.
  • Industry transformation – Samuel Greg & Co.  Cotton mill founded 1782 at Quarry Bank Mill, Styal, near Manchester  Arkwright‟s Spinning Jenny enabled move from domestic spinning (once patents had been challenged or expired)  Machinery powered initially by water wheel. Boulton and Watt steam engine acquired 1810.  Samuel Greg was a pioneer of the factory system, and built on-site accommodation  Greg expanded the business, building four further cotton factories in the area4 © Copyright Ovum. All rights reserved. Ovum is an Informa business.
  • Common factors New and improved Mechanization power sources Dramatic increase in Factory system and network bandwidth division of labour and speed Improved processes Increase in for raw materials, knowledge transfer chemicals & fabrication5 © Copyright Ovum. All rights reserved. Ovum is an Informa business.
  • The data-driven enterprise in financial services  Banking core system renewal to enable real-time processing and standardization  Transaction analysis for fraud detection and risk management  Basel III and Solvency II require integration of large and disparate data sources to assess risk exposure & liquidity in real time  Telematics are being applied to analyse driving behaviour and offer pay-as-you-drive policies  High frequency trading relies entirely on technical capabilities, rather than fundamentals of the stocks involved6 © Copyright Ovum. All rights reserved. Ovum is an Informa business.
  • The data-driven enterprise in telecoms  In a highly competitive telecoms market, customer experience, customer satisfaction and personalization are key to success  Telcos are providing new and enhanced services such as payment services, identity, and mobile wallets  Telco services becoming integrated into industry value chains in areas including healthcare, energy, and public sector  Telecom operators have evolved to triple- play and quad-play service bundles, incorporating mobile, digital & broadband  New competition from Over-The-Top (OTT) players offering VOIP calls, messaging, and videoconferencing services7 © Copyright Ovum. All rights reserved. Ovum is an Informa business.
  • The data-driven enterprise in energy and utilities  The industry is making a huge transition from analogue to digital, with smart meters and smart grids transforming the value chain  Utilities will have to deal with an exponential growth in data, and information architecture complexity  Data enables utilities to increase efficiency, optimize maintenance, predict demand, and cross-sell additional services.  e.g. every 1% gain in accuracy in forecasting customer demand can save a large energy company £130m  Data also used to add value for the utilities‟ business and residential customers8 © Copyright Ovum. All rights reserved. Ovum is an Informa business.
  • The data-driven enterprise in media & broadcast  Convergence of traditional broadcast channels and Web is causing massive disruption, with reduced entry barriers  Audience behaviour is changing dramatically with new devices and new channels; consumers demand a unified and personalized experience  Massive volumes of digital data enables sophisticated real-time targeting of editorial and advertising content  Restructuring of internal and supply chain architectures using metadata-enhanced digital file based workflow, enables new levels of automation9 © Copyright Ovum. All rights reserved. Ovum is an Informa business.
  • The data-driven enterprise in government and public sector  Fiscal austerity driving increased process efficiency and automation  Analytics being used to predict citizen behaviour and optimize resource allocation  Crime report analysis and event correlation used to assist law enforcement  Sensor data (M2M) used to manage digital city infrastructure and relieve traffic congestion  Citizen engagement across online, mobile and social channels  Education transforming back-office processes and embracing e-learning10 © Copyright Ovum. All rights reserved. Ovum is an Informa business.
  • The data-driven enterprise in healthcare and life sciences  Electronic health records enable better continuum of care through higher availability of patient data  Analytics and decision support systems generate valuable insights into how to improve clinical and operational outcomes  Pharma sales reps using tablets for drug detailing, linked to optimized sales and marketing campaigns  Pharma & biotech using electronic notebooks and automated data acquisition to increase collaboration, and improve data quality  Mobile devices enable new interactions between patients, doctors and insurers11 © Copyright Ovum. All rights reserved. Ovum is an Informa business.
  • Common factors Automation, Primacy of the optimization and customer and process efficiency citizen experience Widespread use of Connected, always on analytics for society – customers, decision support employees, environment Convergence of Information as the operational technology and key differentiator information technology for business12 © Copyright Ovum. All rights reserved. Ovum is an Informa business.
  • Your view? Do you believe that you already work for a data-driven enterprise? Yes No Continue the conversation on Twitter with hashtag #bisymp13 © Copyright Ovum. All rights reserved. Ovum is an Informa business.
  • THE CULTURE OF DECISION- MAKING14 © Copyright Ovum. All rights reserved. Ovum is an Informa business.
  • Infographics abound! Number of kills by James Dr. No Bond in different movies From Russia With Love = 10 =1 Goldfinger Thunderball The World is Not Enough Die Another Day Casino Royale Quantum of Solace Source: The Guardian15 © Copyright Ovum. All rights reserved. Ovum is an Informa company
  • We expect information at our fingertips Distribution of economic activity in the information and communication sector Source: Statistics Netherlands16 © Copyright Ovum. All rights reserved. Ovum is an Informa company
  • New data-driven possibilities emerge Map of geolocated Tweets to find the most frequently travelled routes in UK cities Source: The Guardian, Eric Fischer17 © Copyright Ovum. All rights reserved. Ovum is an Informa company
  • Why Big Data changes nothing … and everything!18 © Copyright Ovum. All rights reserved. Ovum is an Informa company
  • Mapping capabilities to the decision making process Does our information translate directly into action? Action Is it easy to share information and Collaboration collaborate with colleagues and partners? Do we successfully gain insight into Performance insight performance against business objectives? Process analysis Have we got effective reporting on Business process operational business processes? Data integration Can we successfully integrate data from multiple sources and make it consistent? Data collection Do we have the right information available? Is it accurate and trusted?19 © Copyright Ovum. All rights reserved. Ovum is part of the Datamonitor Group.
  • Data privacy and trust will be the big issue  Governance problem first, How Companies Learn Your technology second Secrets  Understand the relationship with your customers & business partners  Keep communications in context  Don‟t catch your customers by surprise  The law still trying to catch up20 © Copyright Ovum. All rights reserved. Ovum is part of the Datamonitor Group.
  • DATA MANAGEMENT AND QUALITY21 © Copyright Ovum. All rights reserved. Ovum is an Informa business.
  • Variety of data sources MP3s Video images/CCTV Call records Log files Telematics Website click Sensor data streams Location/ GPS XML feeds data POS transactions Customer correspondence Audio call Transactional recordings data Emails Financial Forms data transactions Social media feeds Public data sets Meter readings Personal records Geophysical data22 © Copyright Ovum. All rights reserved. Ovum is an Informa business.
  • Implications of analysing big, fast data  Structure of data may be unknown in advance, or vary across data set  Data sources that have previously been discarded can now be utilized to create business insight and value  Analysing all data versus sampling. Get a “good enough” picture of all the data  Iterative and exploratory analysis versus structured and repeatable analysis  Data integration is critical to create the most powerful insights  Democratization of data  Governments focus on “open data”, Publicly available APIs from Google, Facebook,23 © Copyright Ovum. All rights reserved. Ovum is an Informa company
  • Data stewardship questions for Big Data  Can we, should we “control” this data?  Are there limits to how much we should know?  Can we just keep piling up data forever?  Can we cleanse terabytes of data?  Do we still need “good” data?24 © Copyright Ovum. All rights reserved. Ovum is an Informa company
  • Is data quality necessary for Big Data?  The App  How mission-critical?  Regulatory compliance impacts?  What degree of business impact?  The Data  The 4V‟s (volume, variety, velocity, value) determine what approaches to quality are feasible  Techniques  Profiling vs. cleansing25 © Copyright Ovum. All rights reserved. Ovum is an Informa company
  • EVOLVING THE ANALYTICAL ARCHITECTURE26 © Copyright Ovum. All rights reserved. Ovum is an Informa business.
  • Technology perspective  Traditional BI architectures and methodologies are not suited to many of these new use cases  A platform approach is required that is capable of handling a broader range of big and fast data scenarios across the whole lifecycle  New database approaches are required to handle the volume, variety, and velocity of Big Data  Specialized databases vs. enhancements to existing database tools  Architectural changes required for many aspects of data handling, including storage, archiving, ETL, DW, analytics  Data processing capabilities must become a „first-class citizen‟ in the data center  Organizations must balance cost, performance, and value in selecting the appropriate architecture and tools for a given application27 © Copyright Ovum. All rights reserved. Ovum is an Informa company
  • New processing scenarios will require data processing, BI and analytics architectures to evolve Fast Data Real-time Real-time In-Memory SQL events Latency CEP Advanced SQL Interactive Traditional SQL Long- NoSQL running Batch events Legacy Batch GBytes TBytes PBytes Scale Big Data28 © Copyright Ovum. All rights reserved. Ovum is an Informa company
  • Emerging directions for Big Data and analytics architecture Common Interface and Management Layer Social data Sensor data Big Data Tools Business Intelligence Multimedia and Platform and Analytics Transactional Hadoop Data Cluster Enterprise Data Warehouse29 © Copyright Ovum. All rights reserved. Ovum is an Informa business.
  • Market timeline for the data-driven enterprise Internet firm early Enterprise early adopters Mainstream adopters (FS, Telecoms, Media) adoption begins Early Development Commercialization Ecosystem Formation 2003 - 2005 2009 2011 2012 2013 2015 Hadoop Cloudera Tooling Market emerges intros emerges begins to comm’l mature First Other Major Infrastructure Hadoop Advanced NoSQL vendors 2nd wave vendors enter support SQL platforms enter Big Advanced market platforms emerge Data SQL emerge market platforms emerge30 © Copyright Ovum. All rights reserved. Ovum is an Informa business.
  • Key takeaways Continued evolution of information management, and a step change in business technology is making possible the 1 data-driven enterprise Organizations must consider how information can optimize 2 every single aspect of their business BI, DW and analytics architectures are evolving rapidly and big and fast data should become a 3 first-class citizen in the data center31 © Copyright Ovum. All rights reserved. Ovum is an Informa business.
  • www.ovum.com Tim Jennings, Research Fellow and Chief Analyst, Ovum IT Email: tim.jennings@ovum.com Phone: +44 7715 748947 Twitter: @tjennings32 © Copyright Ovum. All rights reserved. Ovum is an Informa business
  • www.ovum.com Tim Jennings, Research Fellow and Chief Analyst, Ovum IT Email: tim.jennings@ovum.com Phone: +44 7715 748947 Twitter: @tjennings33 © Copyright Ovum. All rights reserved. Ovum is an Informa business
  • www.ovum.com Tim Jennings, Research Fellow and Chief Analyst, Ovum IT Email: tim.jennings@ovum.com Phone: +44 7715 748947 Twitter: @tjennings34 © Copyright Ovum. All rights reserved. Ovum is an Informa business