Recommended
More Related Content
What's hot
What's hot (10)
Similar to The Big Data Business Opportunity
Similar to The Big Data Business Opportunity (20)
Recently uploaded
Recently uploaded (20)
The Big Data Business Opportunity
- 1. The Big Data Business Opportunity
- 3. In late 1990’s Web Clicks became the new knowledge currency. ONLINE MERCHANTS PRODUCT SALES CUSTOMER PURCHASE BEHAVIOR
- 4. Today , new sources of Social Media , mobile and sensor or machine generated data hold potential to rewire an organization’s value creation processes. SOCIAL MEDIA CUSTOMER INTERESTS PASSIONS AFFILIATIONS ASSOCIATIONS
- 6. Questions triggered by Big Data : • How far can Big Data take us from a business perspective? • What could the ultimate endpoint look like? • How do I compare to others with respect to my organization’s adoption of Big Data as a business enabler? • How far can I push Big Data to power or even transform my value creation process?
- 7. Big Data Business Model Maturity Index Business Monitoring Business Insights Business Optimization Data Monetization Business Metamorphosis
- 8. BUSINESS MONITORING Flag under or over performing areas Send Alerts To concerned parties
- 9. Business Insights • Invest the time to understand how users are using existing reports and dashboards to identify problems and opportunities. • Understand how downstream constituents – Ask for , Results , Actions , Decisions ? Of the analysis. • Launch a prototype or pilot project that provides the opportunity to integrate detailed transactional data and new unstructured data sources with real-time data feeds and predictive analysis. Can be called as “Tell me what I need to know” phase
- 10. Business Optimization • Areas where you Develop and Deliver recommendations. • Identify the supporting Business Questions and Decision-making process. The Business Optimization phase is the level of business phase opportunity where organizations use embedded analytics to automatically optimize parts of their business operations. Proof of Value
- 11. Data Monetization Leverage Big Data for net new revenue opportunities •First type of initiative : Smartphone app •Second type of initiative : Advance analytics to create “Intelligent” products •Third type of initiative : “Up-level” customer relationships and rethink customer’s experience
- 12. Business Metamorphosis Move away from product-centric business model to platform-centric business model. • The North American video game was in a massive recession in 1985. • Revenues that had peaked at $3.2 billion in 1983,fell to $100 million by 1985 – a drop of almost 97%. • The crash led to the bankruptcy of several companies , including Atari.
- 13. The industry was revitalized in 1987 with the success of Nintendo Entertainment System. • High-quality games through licensing restrictions • Strict control of industry-wide game inventory • Security lockout system • Nintendo ensured that the third party developers had a ready and profitable market. Platform-centric business model enabled third party developers to deliver products and services on that platform.
- 14. Lessons of Nintendo • Nintendo along with third party video games, created such a platform that not only benefited the customers but also the platform provider. • Create high level of customer dependency. • They knew if they tried to do all of this on their own they would struggle to keep up with speed and innovation. • Instead of trying to compete with smaller , hungrier companies , give them a platform on which they can profitably build market and support their apps and solutions.
- 15. Business Monitoring Business Insights Business Optimization Data Monetization Business Metamorphosis Business Monitoring Business Insights Business Optimization Data Monetization Business Metamorphosis Internal Process Optimization External Customer Monetization Customer Insights Product Insights Market Insights First Observation Second Observation
- 16. Reference Understanding How Data Powers Big Business - Bill Schmarzo
- 17. Thank You - Apoorva Kale