Strategic Applications of Big Data

Abstract

Although big data is often associated with retail marketing analytics, it is broadly relevant to today’s corporate strategies. Big data can be exploited in support of four “digital disciplines:” information excellence, i.e., better processes and asset utilization through data-based information technologies; solution leadership, i.e., better products and services through data enrichment of formerly standalone elements to cloud-connected, smart, digital things; collective intimacy, i.e., sophisticated algorithms processing billions or trillions of data points on attitudes, behaviors, contexts, and external data in addition to demographics to develop personalized, contextualized recommendations and services; and accelerated innovation, enabling ad hoc solvers across the world—and eventually machines—to process data sets to develop new insights. These digital disciplines can create unparalleled customer value, galvanize corporate strategy, and link information technologies to the ultimate success of any business in any vertical.