Unlocking the Value of Big Data (Innovation Summit 2014)Dun & Bradstreet
Big Data is central to the strategic thinking of today’s innovators and business executives as companies are scrambling to figure out the secret to transforming Big Data to Big Insight and that Insight into Action. As many companies struggle with the emerging technologies and nascent capabilities to discover and curate massive quantities of highly dynamic data, new problems are emerging in the form of how to ask meaningful questions that leverage the “V’s” of large amounts of data (e.g. volume, variety, velocity, veracity). In the Business-to-Business space, these challenges are creating both significant opportunity and ominous new types of risk. This presentation discusses how companies are reacting to these changes and provide valuable insight into new ways of thinking in a world with overwhelming quantities of data.
Few decades ago, Managers relied on their instincts to take business decisions. They could afford to make mistakes and learn from it. Today, the scope for learning from mistakes is very minimal. Instincts should be backed by data to minimise mistakes.
Technological advancements, in addition to opening new channels of communication with customers, have also enabled organizations to collect vital information about their businesses with customers. But, have these organizations fully leveraged this data?
Today, Organizations make use of data for business decisions, but the data is not close enough to the customer to reap maximum benefit. In many cases, importance is not given to the granularity of data. The probability of “customer centric” decisions being right could be high, if the top management makes better use of the end user customer data (such as point of sale data, voice of customer, social media buzz etc.) to devise business strategies.
Unlocking the Value of Big Data (Innovation Summit 2014)Dun & Bradstreet
Big Data is central to the strategic thinking of today’s innovators and business executives as companies are scrambling to figure out the secret to transforming Big Data to Big Insight and that Insight into Action. As many companies struggle with the emerging technologies and nascent capabilities to discover and curate massive quantities of highly dynamic data, new problems are emerging in the form of how to ask meaningful questions that leverage the “V’s” of large amounts of data (e.g. volume, variety, velocity, veracity). In the Business-to-Business space, these challenges are creating both significant opportunity and ominous new types of risk. This presentation discusses how companies are reacting to these changes and provide valuable insight into new ways of thinking in a world with overwhelming quantities of data.
Few decades ago, Managers relied on their instincts to take business decisions. They could afford to make mistakes and learn from it. Today, the scope for learning from mistakes is very minimal. Instincts should be backed by data to minimise mistakes.
Technological advancements, in addition to opening new channels of communication with customers, have also enabled organizations to collect vital information about their businesses with customers. But, have these organizations fully leveraged this data?
Today, Organizations make use of data for business decisions, but the data is not close enough to the customer to reap maximum benefit. In many cases, importance is not given to the granularity of data. The probability of “customer centric” decisions being right could be high, if the top management makes better use of the end user customer data (such as point of sale data, voice of customer, social media buzz etc.) to devise business strategies.
Disruptive Data Science Series: Transforming Your Company into a Data Science...EMC
Big Data is the latest technology wave impacting C-Level executives across all areas of business, but amid the hype, there remains confusion about what it all means. The name emphasizes the exponential growth of data volumes worldwide (collectively, 2.5 Exabytes/ day in the latest estimate I saw from IDC), but more nuanced definitions of Big Data incorporate the following key tenets: diversification, low latency, and ubiquity. In the current developmental-phase of Big Data, CIOs are investing in platforms to “manage” Big Data.
MTBiz is for you if you are looking for contemporary information on business, economy and especially on banking industry of Bangladesh. You would also find periodical information on Global Economy and Commodity Markets.
There is little arguing the benefits and disruptive potential of Big Data. However, many organizations have not fully embedded Big Data in their operations. In fact, our research shows that only 13% have achieved full-scale production for their Big Data implementations. The most troubling development is that most organizations are failing to benefit from their investments. Only 27% of respondents described their Big Data initiatives as “successful” and only 8% described them as “very successful”.
This webinar was hosted by Gramener's CEO/Co-Founder, Anand S, and Ganes Kesari, Head of Analytics/Co-Founder on how data can help firms recover quickly throughout the recession and recovery period.
Who should watch this webinar :
Analytics Leaders, Business Leaders, CDOs, CTOs, etc.
Few takeaways :
-Which aspects of your company could benefit the most from a data-driven response?
-A strategy for identifying use cases that will provide the most value for the money.
How to use data in creative ways to uncover new market opportunities and customers.
Objectives :
-Data's utility in COVID situation
-How data science may assist you in navigating the recession
-Gramener's industry case studies to assist businesses in responding to COVID-19
Full Webinar: https://info.gramener.com/recession-proofing-your-business-with-data
To know more from industry leaders visit our official website: https://gramener.com/
Enabling Success With Big Data - Driven Talent AcquisitionDavid Bernstein
Adopting an evidence-based recruitment marketing strategy is not just reserved for large employers. In fact, a targeted sourcing strategy can in some ways have a greater impact on small and mid-size businesses who need to allocate already-limited resources to the areas that will provide the most value. Ultimately, hiring the right candidate means profitability for your business. How can talent acquisition professionals gain the insights their organizations need to make better-informed decisions about their recruitment marketing efforts?
Slow Data Kills Business eBook - Improve the Customer ExperienceInterSystems
We live in an era where customer experience trumps product features and functions. How do you exceed customer’s expectations every time they interact with your organization? By leveraging more information and applying insights you have learned over time. Turning data-driven power into delightful experiences will give you the advantages required to succeed in today’s climate of one-click shopping and crowd-sourced feedback. Whether you are a retailer, a banker, a care provider, or a policy maker, your organization must harness the power of growing data volumes, data types, and data sources to foster experiences that matter.
MIT report: How data analytics and machine learning reap competitive advantage.Nicolas Valenzuela
How Analytics and Machine Learning Help Organizations Reap Competitive Advantage
Produced MIT Technology Review, in Partnership with Google Analytics 360 Suite
Disruptive Data Science Series: Transforming Your Company into a Data Science...EMC
Big Data is the latest technology wave impacting C-Level executives across all areas of business, but amid the hype, there remains confusion about what it all means. The name emphasizes the exponential growth of data volumes worldwide (collectively, 2.5 Exabytes/ day in the latest estimate I saw from IDC), but more nuanced definitions of Big Data incorporate the following key tenets: diversification, low latency, and ubiquity. In the current developmental-phase of Big Data, CIOs are investing in platforms to “manage” Big Data.
MTBiz is for you if you are looking for contemporary information on business, economy and especially on banking industry of Bangladesh. You would also find periodical information on Global Economy and Commodity Markets.
There is little arguing the benefits and disruptive potential of Big Data. However, many organizations have not fully embedded Big Data in their operations. In fact, our research shows that only 13% have achieved full-scale production for their Big Data implementations. The most troubling development is that most organizations are failing to benefit from their investments. Only 27% of respondents described their Big Data initiatives as “successful” and only 8% described them as “very successful”.
This webinar was hosted by Gramener's CEO/Co-Founder, Anand S, and Ganes Kesari, Head of Analytics/Co-Founder on how data can help firms recover quickly throughout the recession and recovery period.
Who should watch this webinar :
Analytics Leaders, Business Leaders, CDOs, CTOs, etc.
Few takeaways :
-Which aspects of your company could benefit the most from a data-driven response?
-A strategy for identifying use cases that will provide the most value for the money.
How to use data in creative ways to uncover new market opportunities and customers.
Objectives :
-Data's utility in COVID situation
-How data science may assist you in navigating the recession
-Gramener's industry case studies to assist businesses in responding to COVID-19
Full Webinar: https://info.gramener.com/recession-proofing-your-business-with-data
To know more from industry leaders visit our official website: https://gramener.com/
Enabling Success With Big Data - Driven Talent AcquisitionDavid Bernstein
Adopting an evidence-based recruitment marketing strategy is not just reserved for large employers. In fact, a targeted sourcing strategy can in some ways have a greater impact on small and mid-size businesses who need to allocate already-limited resources to the areas that will provide the most value. Ultimately, hiring the right candidate means profitability for your business. How can talent acquisition professionals gain the insights their organizations need to make better-informed decisions about their recruitment marketing efforts?
Slow Data Kills Business eBook - Improve the Customer ExperienceInterSystems
We live in an era where customer experience trumps product features and functions. How do you exceed customer’s expectations every time they interact with your organization? By leveraging more information and applying insights you have learned over time. Turning data-driven power into delightful experiences will give you the advantages required to succeed in today’s climate of one-click shopping and crowd-sourced feedback. Whether you are a retailer, a banker, a care provider, or a policy maker, your organization must harness the power of growing data volumes, data types, and data sources to foster experiences that matter.
MIT report: How data analytics and machine learning reap competitive advantage.Nicolas Valenzuela
How Analytics and Machine Learning Help Organizations Reap Competitive Advantage
Produced MIT Technology Review, in Partnership with Google Analytics 360 Suite
South Africa: A Digital Innovation Hub for Financial ServicesSeymourSloan
South Africa is fast becoming one of the leading digital players in financial services along with Kenya and Tanzania. This piece explores how they have succeeded where others have stalled.
The free Your Money Your Goals (YMYG) Toolkit designed by the Consumer Financial Protection Bureau (CFPB) makes it easy and customizable to set client financial goals, choose financial products and build money management skills for social service providers who aren’t experienced with such things. Neighborhood Partnerships is part of a team charged with getting the toolkit in the hands of more Oregonians.
This is another Darul Fiqh presentation which expounds on the contemporary issues and laws relating to Zakat.
A very user friendly guide with a lot of complicated issues easily explained for all to benefit.
Analytics Isn’t Enough To Create A Data–Driven CultureaNumak & Company
The earned values are perhaps compatible with older technologies. As we believe big data and AI are extensions of analytical capabilities, the most common and most likely to succeed are those related to "advanced analytics and better decisions."
Data democratization the key to future proofing data culturePolestarsolutions
Learn how to empower your organization with accessible data insights through democratizing your data. This guide offers tips for choosing the right tools and fostering a data-driven culture.
Is Your Company Braced Up for handling Big Datahimanshu13jun
Has your company recently launched new product or company is concerned with the poor sales figure or want to reach new prospects and also reduce the existing customers' attrition, then this thought evoking short hand guide is available for you to explore.
Recently, Oracle and Accenture polled some 200 CFOs and senior finance executives about
their strategies for improving the management reporting process. More than a third—41%— said selecting the right analytics tools and technologies was their top concern.
This whitepaper aims to assist Chief Data Officers in promoting a data-driven culture at their
organization, helping them lead the enterprise on a digital transformation journey backed by
analytical insights.
Big Data is Here for Financial Services White PaperExperian
Conquering Big Data Challenges
Financial institutions have invested in Big Data for many years, and new advances in technology infrastructure have opened the door for leveraging data in ways that can make an even greater impact on your business.
Learn how Big Data challenges are easier to overcome and how to find opportunities in your existing data and scale for the future.
Data can be your key strategic asset for long-term growth. Just as the "quantified self" builds awareness of progress toward health, your comprehensive data strategy can help you lead your industry.
"Making Advanced Analytics Work for You" by Dominic Barton and David CourtRahul Chintu
This is a presentation done during the Data Science and Managerial Relevance internship under the guidance of prof.Sameer Mathur (Ph.d,Carnige Mellon),IIM-LUCKNOW
Driving A Data-Centric Culture: The Leadership ChallengePlatfora
Embracing data as a corporate asset—and a source of competitive advantage—is not just a “good idea” that companies should consider. Such adoption will help determine the winners and losers across multiple markets and industries in the future.
In the last couple of years, corporate focus has shifted: first, from investing in the right technology and tools; then to acquiring the right talent and skills; and now to building the right organizational culture that can realize the business value of powerful big-data analytic tools.
Most organizations today are still focused on putting in place the right technology and talent, but others have evolved further and are working toward fostering a data-centric corporate culture.
The new ‘A and B’ of the Finance Function: Analytics and Big Data - -Evolutio...Balaji Venkat Chellam Iyer
Published in 2013, this White Paper discusses how the finance function would evolve with the combined forces of Big Data and Analytics and the levers that could help catalyze the change and has drawn upon the Global Trend Study conducted by Tata Consultancy Services (TCS) on how companies were investing in Big Data and deriving returns from it.
An efficient data science team is crucial for deriving value from the humongous data a business collect. Learn how the data science team can help in this regard.
Overcoming the challenges of doing business in africaSeymourSloan
As Africa becomes a more attractive investment destination, with fast growth and greater stability, investors must become used to a new way of doing business. We discuss seven things that can make the difference between success and failure.
Moving Beyond Customer Experience Towards Customer EngagementSeymourSloan
In a changing market, we need to look at how customers are managed within businesses. For too long the debate was around experience, which ignored the richness of the opportunities available to really build relatioinships with customers. Rather, we suggest looking at the model from an engagement perspective and understanding how to make the relatioinship multi-way.
Luxury 2020: The Trends Shaping the Luxury Market of the FutureSeymourSloan
By 2020 we will see a different luxury market.
Luxury will not be immune to the businesss and external changes reshaping the world and these will create challenges that brands must be aware of and seek to maximise.
Building customer loyalty in retail banking1SeymourSloan
Retail Banking is facing challnges on many fronts. Leading banks must defend their positions through improved loyalty. this means investing wislyin technology and propositions designed to please customers.
Building customer loyalty in retail bankingSeymourSloan
Building loyalty within your customer base is essential as a platform for growth and in the face of the challenges from disruptors banks have no choice.
Improving profitability for small businessBen Wann
In this comprehensive presentation, we will explore strategies and practical tips for enhancing profitability in small businesses. Tailored to meet the unique challenges faced by small enterprises, this session covers various aspects that directly impact the bottom line. Attendees will learn how to optimize operational efficiency, manage expenses, and increase revenue through innovative marketing and customer engagement techniques.
RMD24 | Debunking the non-endemic revenue myth Marvin Vacquier Droop | First ...BBPMedia1
Marvin neemt je in deze presentatie mee in de voordelen van non-endemic advertising op retail media netwerken. Hij brengt ook de uitdagingen in beeld die de markt op dit moment heeft op het gebied van retail media voor niet-leveranciers.
Retail media wordt gezien als het nieuwe advertising-medium en ook mediabureaus richten massaal retail media-afdelingen op. Merken die niet in de betreffende winkel liggen staan ook nog niet in de rij om op de retail media netwerken te adverteren. Marvin belicht de uitdagingen die er zijn om echt aansluiting te vinden op die markt van non-endemic advertising.
3.0 Project 2_ Developing My Brand Identity Kit.pptxtanyjahb
A personal brand exploration presentation summarizes an individual's unique qualities and goals, covering strengths, values, passions, and target audience. It helps individuals understand what makes them stand out, their desired image, and how they aim to achieve it.
RMD24 | Retail media: hoe zet je dit in als je geen AH of Unilever bent? Heid...BBPMedia1
Grote partijen zijn al een tijdje onderweg met retail media. Ondertussen worden in dit domein ook de kansen zichtbaar voor andere spelers in de markt. Maar met die kansen ontstaan ook vragen: Zelf retail media worden of erop adverteren? In welke fase van de funnel past het en hoe integreer je het in een mediaplan? Wat is nu precies het verschil met marketplaces en Programmatic ads? In dit half uur beslechten we de dilemma's en krijg je antwoorden op wanneer het voor jou tijd is om de volgende stap te zetten.
Falcon stands out as a top-tier P2P Invoice Discounting platform in India, bridging esteemed blue-chip companies and eager investors. Our goal is to transform the investment landscape in India by establishing a comprehensive destination for borrowers and investors with diverse profiles and needs, all while minimizing risk. What sets Falcon apart is the elimination of intermediaries such as commercial banks and depository institutions, allowing investors to enjoy higher yields.
Putting the SPARK into Virtual Training.pptxCynthia Clay
This 60-minute webinar, sponsored by Adobe, was delivered for the Training Mag Network. It explored the five elements of SPARK: Storytelling, Purpose, Action, Relationships, and Kudos. Knowing how to tell a well-structured story is key to building long-term memory. Stating a clear purpose that doesn't take away from the discovery learning process is critical. Ensuring that people move from theory to practical application is imperative. Creating strong social learning is the key to commitment and engagement. Validating and affirming participants' comments is the way to create a positive learning environment.
Unveiling the Secrets How Does Generative AI Work.pdfSam H
At its core, generative artificial intelligence relies on the concept of generative models, which serve as engines that churn out entirely new data resembling their training data. It is like a sculptor who has studied so many forms found in nature and then uses this knowledge to create sculptures from his imagination that have never been seen before anywhere else. If taken to cyberspace, gans work almost the same way.
Explore our most comprehensive guide on lookback analysis at SafePaaS, covering access governance and how it can transform modern ERP audits. Browse now!
The world of search engine optimization (SEO) is buzzing with discussions after Google confirmed that around 2,500 leaked internal documents related to its Search feature are indeed authentic. The revelation has sparked significant concerns within the SEO community. The leaked documents were initially reported by SEO experts Rand Fishkin and Mike King, igniting widespread analysis and discourse. For More Info:- https://news.arihantwebtech.com/search-disrupted-googles-leaked-documents-rock-the-seo-world/
What is the TDS Return Filing Due Date for FY 2024-25.pdfseoforlegalpillers
It is crucial for the taxpayers to understand about the TDS Return Filing Due Date, so that they can fulfill your TDS obligations efficiently. Taxpayers can avoid penalties by sticking to the deadlines and by accurate filing of TDS. Timely filing of TDS will make sure about the availability of tax credits. You can also seek the professional guidance of experts like Legal Pillers for timely filing of the TDS Return.
Remote sensing and monitoring are changing the mining industry for the better. These are providing innovative solutions to long-standing challenges. Those related to exploration, extraction, and overall environmental management by mining technology companies Odisha. These technologies make use of satellite imaging, aerial photography and sensors to collect data that might be inaccessible or from hazardous locations. With the use of this technology, mining operations are becoming increasingly efficient. Let us gain more insight into the key aspects associated with remote sensing and monitoring when it comes to mining.
[Note: This is a partial preview. To download this presentation, visit:
https://www.oeconsulting.com.sg/training-presentations]
Sustainability has become an increasingly critical topic as the world recognizes the need to protect our planet and its resources for future generations. Sustainability means meeting our current needs without compromising the ability of future generations to meet theirs. It involves long-term planning and consideration of the consequences of our actions. The goal is to create strategies that ensure the long-term viability of People, Planet, and Profit.
Leading companies such as Nike, Toyota, and Siemens are prioritizing sustainable innovation in their business models, setting an example for others to follow. In this Sustainability training presentation, you will learn key concepts, principles, and practices of sustainability applicable across industries. This training aims to create awareness and educate employees, senior executives, consultants, and other key stakeholders, including investors, policymakers, and supply chain partners, on the importance and implementation of sustainability.
LEARNING OBJECTIVES
1. Develop a comprehensive understanding of the fundamental principles and concepts that form the foundation of sustainability within corporate environments.
2. Explore the sustainability implementation model, focusing on effective measures and reporting strategies to track and communicate sustainability efforts.
3. Identify and define best practices and critical success factors essential for achieving sustainability goals within organizations.
CONTENTS
1. Introduction and Key Concepts of Sustainability
2. Principles and Practices of Sustainability
3. Measures and Reporting in Sustainability
4. Sustainability Implementation & Best Practices
To download the complete presentation, visit: https://www.oeconsulting.com.sg/training-presentations
"𝑩𝑬𝑮𝑼𝑵 𝑾𝑰𝑻𝑯 𝑻𝑱 𝑰𝑺 𝑯𝑨𝑳𝑭 𝑫𝑶𝑵𝑬"
𝐓𝐉 𝐂𝐨𝐦𝐬 (𝐓𝐉 𝐂𝐨𝐦𝐦𝐮𝐧𝐢𝐜𝐚𝐭𝐢𝐨𝐧𝐬) is a professional event agency that includes experts in the event-organizing market in Vietnam, Korea, and ASEAN countries. We provide unlimited types of events from Music concerts, Fan meetings, and Culture festivals to Corporate events, Internal company events, Golf tournaments, MICE events, and Exhibitions.
𝐓𝐉 𝐂𝐨𝐦𝐬 provides unlimited package services including such as Event organizing, Event planning, Event production, Manpower, PR marketing, Design 2D/3D, VIP protocols, Interpreter agency, etc.
Sports events - Golf competitions/billiards competitions/company sports events: dynamic and challenging
⭐ 𝐅𝐞𝐚𝐭𝐮𝐫𝐞𝐝 𝐩𝐫𝐨𝐣𝐞𝐜𝐭𝐬:
➢ 2024 BAEKHYUN [Lonsdaleite] IN HO CHI MINH
➢ SUPER JUNIOR-L.S.S. THE SHOW : Th3ee Guys in HO CHI MINH
➢FreenBecky 1st Fan Meeting in Vietnam
➢CHILDREN ART EXHIBITION 2024: BEYOND BARRIERS
➢ WOW K-Music Festival 2023
➢ Winner [CROSS] Tour in HCM
➢ Super Show 9 in HCM with Super Junior
➢ HCMC - Gyeongsangbuk-do Culture and Tourism Festival
➢ Korean Vietnam Partnership - Fair with LG
➢ Korean President visits Samsung Electronics R&D Center
➢ Vietnam Food Expo with Lotte Wellfood
"𝐄𝐯𝐞𝐫𝐲 𝐞𝐯𝐞𝐧𝐭 𝐢𝐬 𝐚 𝐬𝐭𝐨𝐫𝐲, 𝐚 𝐬𝐩𝐞𝐜𝐢𝐚𝐥 𝐣𝐨𝐮𝐫𝐧𝐞𝐲. 𝐖𝐞 𝐚𝐥𝐰𝐚𝐲𝐬 𝐛𝐞𝐥𝐢𝐞𝐯𝐞 𝐭𝐡𝐚𝐭 𝐬𝐡𝐨𝐫𝐭𝐥𝐲 𝐲𝐨𝐮 𝐰𝐢𝐥𝐥 𝐛𝐞 𝐚 𝐩𝐚𝐫𝐭 𝐨𝐟 𝐨𝐮𝐫 𝐬𝐭𝐨𝐫𝐢𝐞𝐬."
2. A DATA DRIVEN FUTURE
Big data is fast becoming the term keeping senior executives up at night. The promise of the op-
portunities it unlocks is sufficiently attractive, yet the sophistication required to extract the claimed
benefits is thinly spread and as such, the challenge is how to unlock the benefits of Big Data
before the competition. In our discussions with senior executives the key message we have picked
up is that the level of understanding is as high as it needs to be, but the capability to execute is far
below most executives’ expectations.
The Seymour Sloan view is that a small percentage of organisations have real strength in analyt-
ics, an elite group that deploys the correct people, tools, data and organisational focus. These are
the companies that are already using analytics insights to alter and improve the way they operate
or to improve their products and services. The difference is already visible. These companies are:
• Twice as likely to be in the top quartile of financial performance within their industries
• Three times more likely to execute decisions as intended
• Five times more likely to make decisions faster
Achieving excellence with Big Data is a three-part process that requires; defining the ambition, de-
veloping the analytics capability and shaping the company to maximise the opportunity. Here, we
will examine the second step—building up the analytics capability—to understand how leaders use
Big Data as a competitive advantage.
Data, tools, people and intent
Strong organisations build up their analytic capabilities through investing in four things: data-savvy
people, quality data, sophisticated tools, and processes and incentives that support analytical de-
cision making. We estimate, based on our high-level survey, a third of companies do not excel at
any of these elements, while many of the rest excel in only one or two areas. Building a high per-
forming analytics capability requires that you do all four well. Success in each capability depends
on strength in the others. It is a self-sustaining structure.
Data is the cornerstone of any analytical capability. Often, research suggests that between 50-70%
of organisations are unhappy with the quality of their data, extending well into the Forbes 500. This
is somewhat alarming, but also, a legacy of the relatively low status data was given in boom years.
That data strategy must align with the overall business view of how the data will generate real
insight and subsequently, value. We estimate that just over half of the companies lack the right
systems to capture the data they needed or were not collecting useful data, with two-thirds lacking
the right technology to store and access data. A good data policy identifies relevant data sources
and
3. builds a data view on the business to—and this is the critical part—differentiate your company’s
analytics capabilities and perspective from competitors. A critical aspect of good data policy is
to focus on identifying relevant sources of data. For example, capturing all queries made on the
company website or from customer support calls, emails or chat lines, regardless of their outcome,
may have significant value in identifying emerging trends; however, keeping detailed logs of re-
quests that were easily handled might be less valuable. An important additional element is the
ability to identify external sources of data that will further assist in providing a deeper view on the
customer. An example is how such consumer finance houses use browsing behaviour as an indi-
cator of credit risk.
In terms of analytical tools, we suggest that organisations ‘aim for the sky.’ In such a nascent peri-
od of analytics development, the key is to ensure you both acquire the most sophisticated analyt-
ics as well as being able to improve capabilities as more tools become available.
Advanced analytics and Big Data tools are developing so rapidly that they’re likely to help you get
to potential insights and statistical novelties in ways that were not possible even as recently as a
year ago. Tools and platforms like Hadoop, HPCC and NoSQL are rapidly emerging and evolving
to address analytics opportunities, as is the rich ecosystem of mature analytics, visualization and
data management. Today, these tools are available from a wide range of vendors and an even
larger community of open-source developers.
We find it surprising that less than a third of the executives we spoke with were aware of the possi-
bilities these tools could offer. This is time for a massive education exercise for executives around
the future of Big Data. They should be sufficiently knowledgeable in order to be the champion of
big data and to understand the impact of investing or not investing.
The biggest challenge facing organisations is the lack of people with the required skills to turn the
analytics into actionable information. The ability to turn data into opportunities will become more
complex as capabilities improve. The increase in technology must move in lock-step with the
increase in skill of your staff. Most organisations agree they are not up to the challenges of iden-
tifying and prioritizing what types of insights would be most relevant to the business. Successful
analytics teams build those capabilities by blending data, technical and business talent. Think of
a band as the model: a team with different but overlapping skills that knows how to effectively and
efficiently communicate and collaborate. Success with Big data requires:
• Data scientists, who provide expertise in statistics, correlations and quality
• Business analysts, who identify and prioritize the problems worth solving and the business
relevance of data anomalies and patterns identified by the data scientists
• Technical specialists, who help manage the hardware and software solutions needed to
collect, clean and process the data
Success with Big Data requires an acceptance by the organisation that, where possible, data must
drive business decisions. The increased analytical capability lies at the core of business strategy
with board-level supervision and support. The CEO and top leadership team need to shape the vi-
sion of how analytics will drive business improvement, whether by improving existing products and
services, optimizing internal processes, building new products or service offerings, or transforming
business models. Leading organisations excel at this, often building their organizations around
data and a commitment to make data-driven decisions.
4. Nest serves as an example of an organisation that can shape decisions with Big Data analytics.
Other companies provide an ability to remotely control their home thermostats using a Web in-
terface or smart phone. Nest goes further, crowdsourcing intelligence about when and how cus-
tomers adjust their thermostats to keep their homes comfortable. Nest gathers the information in
the cloud, and by correlating it with weather, location, type of home and when people adjust their
thermostats, the company can anticipate and control the settings to create a more comfortable
environment in their customers’ homes.
Committing to excellence in each area will require significant investment, commitment, and oc-
casionally a change in leadership. There is no value in focusing on one area without the other
elements. Tools won’t help if the data is of poor quality, and talent will walk if the company isn’t
committed to benefiting from the insights. Like an engine that must be firing on all pistons, all four
areas must be tuned for peak performance.
The opportunity, the urgency
There is a significant opportunity now to develop and deploy a sophisticated analytical capability.
This will place the early-adopters ahead of their rivals, but the window is closing on a daily basis
and as sophistication of tools improves, the opportunity for rivals to close the gap improves. The
time to act is now.
Industries such as, financial services, technology and healthcare are leading the market in rede-
fining the battlegrounds and business models, based on analytic capabilities and insight-driven
decisions. But opportunities exist in almost every industry.
An example is the mail-order pharmacy that analysed hundreds of thousands of customer service
logs and detected a spike in calls between Days 75 and 105 of some patients’ medication regi-
mens. Looking closer, analysts found that the calls correlated with refill dates, and they discovered
that some customers were calling for refills because their medications were taken with variable
dosages.