A lot of members of the information technology world believe that "big data" will give businesses new abilities and worth. Hence businesses have been coping with an exponentially growing amount of data, and much of it in forms which are not possible to manage by traditional analytics. "Big data"includes info including call center voice data, social media content and video entertainment, as well as clickstream data from the web. The authors are creating new services and products posit that organizations which are learning to take advantage of big data are beginning to understand their business surroundings at a more granular level, and are reacting more rapidly to change as it happens.
These businesses stand apart from those with conventional data analysis environments in three crucial ways. First, rather than looking at data to evaluate what happened previously, these organizations consider data in terms of flows and processes, and make decisions and take actions quickly. Moreover, organizations already involved with big data are taking a lead on hiring -and training - information scientists and product and process programmers as opposed to data analysts. And eventually, analytics are moving from IT in their core business and operational functions.
PUBLICATION DATE: October 01, 2012 PRODUCT #: SMR428-HCB-ENG
This is just an excerpt. This case is about INNOVATION & ENTREPRENEURSHIP
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