This document discusses how organizations can harness big data as a game changing asset. It begins by setting the context on the impact of big data and how the volume of digital information is growing exponentially. It then covers analytical layers for deriving value from big data, including the data layer, emerging trends in real analytics, and shifting the focus from hindsight to foresight. Two case studies from India are presented on applying analytics in retail and HR. Finally, it discusses how big data is changing the paradigm for analytics by enabling closer monitoring, simulation and optimization. Harnessing big data requires asking focused questions to solve specific business problems.