Leveraging Big Data as a Key to Transformation

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Information about Leveraging Big Data as a Key to Transformation

Published on February 5, 2014

Author: sap

Source: slideshare.net


Data-driven decision making is here. Learn how to use analytics to create deep insights from your structured and unstructured data. http://spr.ly/IDCbigdataSS


BIG DATA’S FAMILIAR NAME Big Data [noun]: A cringe-worthy term for IT departments, as it is the basis for most software upgrades, system overhauls, and constant upkeep. Continually changing technology and growing information volumes put pressure on IT to develop a vision for capitalizing on data. The quest to drive valuable insights and real-time decision making from the data avalanche will drive massive IT investments in “3rd Platform” technologies. In 2014 alone, our total “digital universe” – all digitized information created, replicated, and consumed in a year – will continue to explode, growing by 50% to about 6 trillion terabytes.1 International Data Corporation, “IDC Predictions 2014: Battles for Dominance – and Survival – on the 3rd Platform” 1 2

THE 3RD PLATFORM Over the past five years, the information technology industry has undergone a massive shift to the 3rd Platform, which is rapidly transforming the role IT plays in business. The 3rd Platform is centered on four driving forces: BIG DATA CLOUD SOCIAL MOBILE 3

COMPETITIVE BALANCE As the technology to manage data continues to grow exponentially, more companies will begin to realize the advantages that complex data analysis brings. The International Data Corporation (IDC) predicts that by 2018, one-third of the top 20 market-share leaders in most industries will be disrupted by new competitors – and reinvented incumbents – that use the 3rd Platform to create new offerings, business models, and cost structures to drive revenue and expand value.2 IS YOUR COMPANY READY TO COMPETE? International Data Corporation, “IDC Predictions 2014: Battles for Dominance – and Survival – on the 3rd Platform” 2 4

QUALITY OVER QUANTITY Simply controlling a large amount of data isn’t enough anymore; it’s the insights you pull from the data that will boost your competitive advantage. Big Data is a major strategic asset in gaining customer insight. By extracting actionable insights directly from customers, you are able to cater to each experience based on individual likes, pain points, and more. Big Data spending is predicted to explode and shift toward analytical tools and applications. 2014 spending on Big Data analytics services will exceed $4.5 billion, growing at a 21% annual rate through 2016.3 International Data Corporation, “IDC Predictions 2014: Battles for Dominance – and Survival – on the 3rd Platform” 3 5

MANAGE THE DATA Business users now expect to have constant access to enterprise data wherever they are. It is up to IT to keep up with expectations and best practices for retaining data security. An information governance strategy is critical. An efficient information architecture can manage, govern, and secure the data from a single source. Failing to deliver on these factors puts you at risk of falling behind your competitors. Spending on information governance should increase five times its current level by 2016 in order to maintain effectiveness and be successful. 4 4 Gartner Predicts 2012, “Information Governance Programs Gain Traction” 6

BIG PLANS FOR BIG DATA There are countless predictions for what’s in store for Big Data in the coming years. However, your best course of action is to equip yourself with a solution that can adapt as quickly as your environment changes. By creating a collaborative partnership with a trusted technology provider, you can enable your IT organization, as well as your enterprise, to rapidly innovate and adapt to market forces without big, disruptive changes to your platform infrastructure. 7

WHAT THE FUTURE HOLDS Learn more about how Big Data is rapidly changing the role IT plays in business. 8

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