Leading Futurist from Asia, Mike Walsh , shared his insights on this year’s hot topic: Big Data…
Everybody is talking about it – but, what exactly is Big Data?
Here is from Mike:
The Data Cloud – social interactions, mobile communications and digital entertainment consumption – consumers are creating and having more information created about them than ever before. Today it’s Twitter and Facebook, but tomorrow the ever expanding Data Cloud will swell with information from mobile payments, smart energy meters, connected cars and all kinds of network connected sensors.
The Data Warehouse – most big companies have spent millions carefully collecting and organizing data that directly relates to their traditional business. This information, from customer records in a CRM system to inventory tracking data, is very useful when it comes to getting visibility into your daily operations. But as you may have already discovered if you have ever asked for a new kind of data report – it is neither flexible nor cost effective to make quick changes, to look for new patterns or combine your data with other external datasets.
The Data Trash Can – if you start digging around, you will realise that companies also collect a lot of other data, mostly inadvertently. Their systems record information about ambient temperatures in their stores, products sold on certain days of the week in certain outlets, the geolocation of their sales staff, the number of cars that enter their car park and so on. Some of this data is in their warehouse, some of it in other systems – but it may as well all be in the trash, because for most purposes, executives can’t get a handle on it in any reasonable time to make decisions.
… the true Big Data revolution is not just about the amount of data that has to be processed, but a mindset change about how data gets used in the enterprise….
So here, in my view, are the five things you need to action next year:
1. Create a business intelligence team outside the IT department.
2. Focus on getting early internal case studies around small, tough problems
3. Don’t get too distracted by the expanding consumer data cloud
4. Take visualization seriously
5. Adapt your decision making
Want more insights on Big Data from Mike? Engage him to speak at your next management conference and here is the sample outline of his presentation on Big Data:
There is a new war coming – over the future’s most valuable asset. Big Data, once just the domain of technology professionals, will soon be the number one issue for all business leaders.
Consumers are producing more of it, marketers are starting to leverage it, and governments are seeking to control it – and most importantly, business leaders will be asked to make decisions based on it.
The real Big Data revolution is not just about the amount of data that has to be processed, but a mindset change about how data gets used in the enterprise.
With original research, practical evaluations of disruptive strategies and case studies from some of the world’s most innovative firms, Mike Walsh will give you and your team the roadmap you need to set your Big Data strategy in place for 2013.
In this session Mike shares:
For IT Leaders:
- The new mindset required to integrate third party Cloud platforms and experiment with exotic Big Data technology platforms
- Meeting the challenge of engaging business decision makers to commit to Big Data investments
For Marketing Leaders:
- How to rethink your marketing based on real time data and emergent patterns in consumer behaviour
- The convergent trends of mobilization, consumerization and Big Data and what they will mean to how you approach and personalize your customer experiences
For Senior Decision Makers:
- Incorporating data into strategic decision making
- Innovative approaches to data visualization as a tool for communicating trends and patterns
- Relevant case studies of the ‘winners circle’ of companies who, today, are making the big bets on tomorrow’s Big Data platforms
Interested in engage Mike to share more insights on Big Data? Contact us today!