My Data is Bigger than Yours

Yes, data is bigger than ever…and it’s not just because technology supports you in storing and analyzing data in unparalleled volumes, in any structure, from any source, and at any given time; although that certainly helps. The real breakthrough of the new data landscape is the ability to insert actionable insights into literally any business activity along every step of the way, with the very best next move. It’s more than a business on steroids; it’s a business on insights. Envision it from before the very first contacts with potential customers, to way beyond the finest details of the final, operational delivery. Insights are the key to boosting corporate IQ…and that’s huge indeed.

What is it?

  • The new data landscape combines low-cost, huge-volume data storage and access with cloud-driven flexibility and scalability alongside raw, real-time analytical and visualization power. Many innovations come from open source projects and startups, but industry leaders are quickly catching up, creating a new normal.
  • Data can be made available as actionable insights, not just as a separate report but right in the middle of a process flow, a mobile application, or though an API.
  • This invites a fundamental redesign of business processes and even entire business models, putting insights from data at the core of digital change.

 

How do we use it?

  • A large European tax agency migrated its entire legacy data warehouse to an open source-based, next-generation data platform, saving considerable costs while increasing delivery speed and gaining access to innovative Big Data capabilities.
  • A Japanese insurance company made an insight-driven, cloud-based sales portal available to its more than 100,000 independent agents, supporting their commercial activities with targeted next best actions.
  • Media company Entravision used the fine-grained customer behavior data it was collecting to set up Luminar, an entirely new analytics business.

 

Potential impact

  • Leverage next-gen technologies to simplify and rationalize the existing data landscape, saving costs while increasing agility, speed and business buy-in.
  • Infuse processes, activities, and applications with real-time actionable insights, in turn improving decision-making, efficiency, client intimacy, and ultimately business performance…all with a higher enterprise IQ.
  • Explore new revenue streams and breakthrough business models, leveraging data as the key asset.

 

Technology

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