Big Data Analytics and Intelligence
With competitive pressures mounting daily, and with more traditional sources of competitive advantage largely table stakes, organizations are searching for new ways to get ahead. Data is the next battle ground. Or more accurately, actionable insights. How can organizations create new insights that drive business results?
Navigating an enterprise to maintain – or achieve – a leadership position through turbulent times requires better and more effective assimilation and utilization of business insights. Organizations of all sizes are increasingly looking to exploit both past and real-time intelligence to drive their business forward.
Better and more effective assimilation and utilization of business insights
It’s no longer a simple matter of relying on traditional sources, such as the structured data that’s held in ERP systems. Now, an organization needs the ability to derive intelligence from internal and external sources and from structured and unstructured data. These sources of unstructured data include not just the emails and calls that come into an organization, but also rich data from blog and forum threads, trending topics on Twitter, video, machine data and perhaps even conversations on Facebook. Together, these sources create a mine of big data intelligence that is rich with insights about your customer and your business.
Einstein said “Everything that can be counted does not necessarily count; everything that counts cannot necessarily be counted. The big data revolution just changed that. Previously organizations focused on their most important data. The power, intelligence and speed of the latest business technology make the era of big data a reality. To gain value and insight from big data analytics, organizations need the ability not just to process the vast quantities of data being generated, but also to blend the right datasets together to give context and meaning.
Big data goes beyond business intelligence and analytics, which may just be used by executives mulling over decisions. The predictions you make are just as likely to be needed by a sales person on the road or a customer services executive in a call center as they are a board member.
Identifying which people or machines in your organization need the insight and how to get it to them at speed and securely is the difference between competitive advantage and increased operational costs.
Actionable big data intelligence and insight
Gaining business advantage requires much more than a technology response. Your business intelligence specialists will need to collaborate more closely with business leaders to understand what they need and what new questions they need to answer, and ensure that they can deliver relevant output in time.
You may need to shorten the business planning periods so that you can react and adapt more quickly. You may need to flex your business processes more frequently and adjust business and operating models to act on insights acquired from big data intelligence and analytics. For example, authorizing contact center agents or field operatives to make on-the-spot commercial decisions to counter competitors’ offers to win and retain customers. Or changing processes to appropriately handle much earlier and more accurate prediction of potentially fraudulent behavior.