When data is turned into insight – provided at the point of action – it becomes true business value. Organizations can take benefit from next-generation ‘Big Data’ technologies by reshaping their existing data landscape into a much more cost-effective, yet increasingly agile foundation for business. They thus also enable themselves to deal with the flood of data that will come from connected people and things. But there is more: predictive analytics – delivered in real-time – can substantially redefine business models. And there seems no end to the disruptive potential of cognitive computing and deep machine learning. Organizations that manage to create an ‘Insight Everywhere’ culture will truly thrive on data.
Big Data is a huge thing to many organizations. Well, potentially, that is. Our latest research by Capgemini Consulting shows that most enterprises put better insights from more data at the very top of their digital priority list. It’s just that it turns out to be quite difficult to get beyond the proof of concept and actually start monetizing the promise.
Two years ago, Big Data was a much-hyped expression analysts, consultants and customers were still trying to define. Nowadays, the Internet of Things, m-Health, online retail, energy consumption and connected cars all rely on Big Data as a key component to make the promise real. After having done many proofs of concept to explore the opportunities, enterprise momentum is now on moving from analytics to production usage and so to daily business impact.
And disruption is looming around the corner indeed, as stipulated by our most recent report. A majority of the companies interviewed believe that the new data landscape will thoroughly shake up business as we know it, not in the least by new entrants that use data to create brilliant, intelligent products and services and equally superior delivery.
Luckily, enterprises still have the option to be on the sending or receiving end of disruption. As we stipulate elsewhere it’s not all about ending up in the Valley Of Doom. By embracing data – living and breathing it – enterprises can take the lead in becoming truly insightful, making much better use of the assets they possess and thus outsmarting the competition.
Much more agility, less infrastructural constraints and a tight relationship between business and IT are at the heart of making better and new business with data. It’s at the very heart of digital transformation and what’s Thriving On Data is all about.
Your expert: Manuel Sevilla
Part of Capgemini’s TechnoVision 2015 update series. See the overview here.