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How to create a competitive advantage in today's digital marketplace

July 18, 2014

It has been established that data is a resource for any organization—and a very valuable resource at that. Smart organizations are capitalizing on this big data and using analytics to get ahead of the competition.

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The 2014 Institute for Business Value Analytics survey aims to look beyond what we already know (the what, where and why of big data) and begin to examine the how. If everyone is competing on analytics, then how can an organization create a competitive advantage from data? How do you stay ahead of the curve?

Every day can be a struggle when you are wrangling data. As IBM’s chief data scientist, I encounter questions like the ones above continuously when meeting with clients around the world.

It’s no easy feat to manage the volume and velocity of data—real-time and historical, structured and unstructured—to create a competitive advantage. But, it’s also exciting, whether it’s in retail, agriculture or airfares, it’s not just the exploration of data and analytics, but how the insights from the data impact the resulting actions you put in place to drive better results that make a difference. Finding the needle in the haystack and quickly putting it to work can be the key to successfully getting ahead in today’s marketplace.

If you love data as much as I do and are responsible for managing, using and analyzing it within an organization, then I encourage you to take the short survey for this year’s IBV Analytics study. This research will allow us to gain greater insight into practical actions organizations can take to stay ahead of the game.