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I Constantly hear people say

“ Our database is small. Big Data isn't for us

You may be right?

However, before you jump to that conclusion, I have a few questions for you to consider?

Business Intelligence

Microsoft Power BI

  • Do you collaborate with partners, suppliers?
  • Do you use open source data?                                          For example, government, NGO's, commercial databases.
  • What about data from sensors or machines?
  • Do you manage satellite offices? 
  • What about social media, CRM?
  • Do you manage, a ecommerce site or inventories?  Perhaps you need to better match inventory to demand.

If the answer is YES

to SOME or ALL of the questions above, then BIG DATA is For YOU:

Perhaps weather patterns affect demand for your product service offering?

Being forewarned might help you with inventory planning?

An example of this is a retailer matches weather patterns to purchases. Using such data, you just might find a real gem. Data patterns may clearly illustrate, particular weather conditions, leads to explosive demand for a specific item. You may also find moving slower items next to explosive demand items increases your sales for these slow shifting higher profit items.

We are rapidly moving towards the INTERNET of THINGS.

Before you dismiss this factor

If you manufacture machines and or devices, then you are probably thinking about connecting such things to the internet. For example, aircraft engines generate one terabyte of information an hour. Buildings, devices, cars you name it will generate data.

Analysing this type of data correctly, could deliver a competitor advantage. Examples of this are building managers having the ability to manage power consumption, another example motor insurance companies fitting on board devices to monitor driving behaviour. The data generated is used to determine insurance premiums.

Another example, a car service. The mechanic plugins the car into a terminal. The information is sent to the manufacture. The manufacture uses data may result in changes in manufacturing or a software updates. Yet another example, driverless cars are a very real possibility in the next few years.

Social Media

Possibly you want to know what your customers are saying, feeling about product service offering?

For good or bad you need to pull the data into your system and once there you need to analysis the data.

Think about this way. You start an advertisement campaign only to discover a few months into the campaign the results aren’t quite what you expect. Immediate feedback would have empowered you to make real time fortuitous decisions based on empirical facts, not intuition.

Sensor data has already become a reality for us all.

Increasing, your internal databases, CRM, Accounting, blogs social media, analytics, data warehousing alone are unlikely to be enough by themselves to deliver competitive advantage to your organisation.

Competitive advantage necessitates interaction with external data sources.

So the final question has to be:

ARE competitors stealing an advantage by finding these hidden data gems?

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