The potential for big data is everywhere you look. The present use of Big Data already exist of monitoring markets to identify sales opportunities, creating personalized offers, recognizing repeat customers at an early stage (churn), recruiting staff, forecasting sales, for planning and control, predicting wear and maintenance, directing management, decision-making & control, detecting fraud, estimating financial risks, recognizing cyber attacks, improving products and developing innovative products.
Big Data is ‘magic moments’ and practical improvements
Big Data offers two huge opportunities: optimizing everyday processes that already exist (performance) and creating new business opportunities (transformance).The companies that already have more experience with crunching unstructured data, are primarily seeking improvement in performance: transporting data through a line from A to B more quickly, better visualization, integrating even more external and internal data, etc. These companies will also be more willing to look to cloud solutions. Organizations that are largely engaged in exploration begin by creating magic moments: a creative start-up stage in which ROI thinking is taboo for the present and long-protected customs are abandoned in order to arrive at genuinely transformative ideas.
What is your big data potential?
You are currently developing your Big Data potential/strategy and, for this reason, this fourth and final VINT Big Data research report concludes with a checklist of twenty questions. They have been taken from our Big Data reports and from all interaction with the experienced experts with whom we have had contact online or in person. The issues of whether or not you are properly situated to tap into the Big Data potential, and of where the possible challenges may lie, can be answered using this checklist.
The new rules focus on business tranformation, technological improvements and new ways of discovering data. All are curical to the data driven organization of 2020.
Read all about how you can unlock your Big Data Potential and deploy a Big Data strategy in your organization in our new report on Big Data.
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