Velocity is now the competitive differentiator for big data
My colleagues Glenn Finch, Steven Davidson, Christian Kirschniak, Marcio Weikersheimer, Cathy Reese and Rebecca Shockley found that, in 2014, there were several important shifts that occurred in the world of big data—shifts that business executives around the globe cannot afford to ignore. These shifts are outlined in the new IBM Institute for Business Value study “Analytics: The speed advantage - Why data-driven organizations are winning the race in today’s marketplace.” This is part one in a multi-part series of easy to consume bites focused on the findings and insights from this study.
The most significant shift is that of velocity—now the competitive differentiator for big data. This sixth annual analytics study reveals a group of organizations differentiating themselves with speed driven data and analytics practices that significantly impact business performance and competitive position. To compete in today’s digitally infused marketplace, other organizations need to emulate these outperformers by acquiring, analyzing and acting on data with a focus on speed to action.
A focus on speed
Capabilities that enable an organization to consume data faster and move from raw data to insight-driven actions are now the key differentiators when creating value through analytics. In addition to this focus on speed, our latest analytics research reveals several significant evolutions in the era of big data.
Based on survey responses frommore than 1,000 business and IT executives from more than 60 countries, our 2014 analytics research revealed four transformative shifts affecting the fast-paced digital marketplace:
1. A solid majority of organizations are now realizing a return on their big data investments within a year.
2. Customer centricity still dominates analytics activities, but organizations are increasingly solving operational challenges using big data.
3. Integrating digital capabilities into business processes is transforming organizations.
4. The value driver for big data has shifted from volume to velocity.
In the part two, we’ll look more closely at each of these four transformative shifts culminating with the shift to velocity in big data.