Bit120 m03 l07 - measuring the success of strategic initiatives
Bit120 m02 l02 - valuing information
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Transcript of Bit120 m02 l02 - valuing information
March 2015 56% Of Enterprises Will Increase Their
Investment In Big Data Over The Next Three Years
70% of IT decision-makers consider their organization’s ability to exploit value from big data as critical to their future success.
65% say they risk becoming irrelevant and/or uncompetitive if they do not embrace big data.
64% are seeing big data changing traditional business boundaries, enabling non-traditional providers to move into their industries.
53% are seeing increased competition from data enabled start-ups.
Why the new interest in data?
Source: http://www.forbes.com/sites/louiscolumbus/2015/03/22/56-of-enterprises-will-increase-their-investment-in-big-data-over-the-next-three-years/
Data in all forms & sizes is being discovered, generated and used to make strategic decisions faster than ever before.
Organizations are capturing and combining it for new insights, better innovation and faster decisions.
What is Big Data … really?
Data Analytics - Technology Driver Data analytics has become the technology driver of this decade. Companies such as IBM, Oracle, Microsoft, and others are creating new
organizational units focused on analytics that help businesses become more effective and efficient in their operations.
Decision makers are using more computerized tools to support their work. Even consumers are using analytics tools directly or indirectly to make
decisions on routine activities such as shopping, healthcare, and entertainment.
(2012, October 22). Sizing “Mobile + Social” Big Data Stats. Retrieved from http://practicalanalytics.wordpress.com/
What was the problem they were trying to solve?
How did data solve their problem?
The new team beat all the odds, won 20 consecutive games, and set an American League record.
Example - Data Use in Sports
https://www.youtube.com/watch?v=yGf6LNWY9AI
Asking The Right Questions To make data useful
… we need to ask the right questions.
Insights: http://
www.informationweek.com/big-data/big-data-analytics/6-ways-to-ask-smarter-questions-of-big-data/d/d-id/1322028
Source: http://
www.informationweek.com/big-data/big-data-analytics/big-data-debate-do-analytics-trump-intuition/d/d-id/1269193
◦ Read the article. Get a feel for the industry.
Top Big Data Companies
Let’s do a multi-media exercise to demonstrate the application of business intelligence.
This multimedia excursion provides an example of how additional information available through an enterprise data warehouse can assist in decision making.
Multi-media Exerise
https://www.youtube.com/watch?v=NXEL5F4_aKA
Business Intelligence Components Data Warehouse
Collection of data from all parts of the company
Data Analytics Collection of tools for manipulating, mining, and analyzing the data in the data
warehouse
Business Performance Management KPI’s for monitoring and analyzing performance
User interface A “dashboard” to monitor data, progress, performance, etc.
Enhanced strategic planning New and innovative business models Restructured business processes Participate in business alliances Improve corporate information systems Encourage innovation and creativity
Business Benefits
Business Benefits Improve customer service and
relationships Move to electronic commerce Improve communication, data access, and
collaboration. Respond quickly to competitors' actions Improve decision making
Insight
http://www.ventera.com/news/insight/white-paper-sensible-approach-successful-business-intelligence-bi-implementation