The analyst firm Gartner recently published some fascinating data trends in Forbes magazine. They summarised how important Big Data is becoming for business intelligence in three clear trends:
1. By 2020, information will be used to reinvent, digitalize or eliminate 80% of business processes and products from a decade earlier.
2. By 2017, more than 30% of enterprise access to broadly based big data will be via intermediary data broker services, serving context to business decisions.
3. By 2017, more than 20% of customer-facing analytic deployments will provide product tracking information leveraging the IoT.
These trends are exciting because what they point to is how communication is changing between individuals and how this is now affecting the way that companies do business.
Mobile, social, cloud, and shared information are all forces that have really only grown in importance over the past 5-6 years. Many company leaders have not realised how all these factors will change the way that companies do business and how decisions from new products to choosing a partner company will all be data-led.
The Gartner predictions are point at corporate behaviours just 18 months in the future. Have you explored how your own organisation is using data today and if not then can you be sure that your competitors will not be making better business decisions a year from now?