There is a reason our current era has been referred to as the “Information Age”- from the time we wake up to the time we return to bed at night, digital content is being consumed in record quantities. All this commotion was sure to attract business people all over the world and revolutionized the manner by which commerce is conducted. To harness the power of the internet, the information that every user generates has to be collected and processed – a daunting proposal indeed, especially when 2.5 exabytes of data is processed each day. So is it worth it for CEO’s and CIO’s to utilize this gargantuan pile of data? Absolutely, failure to do so is reckless.
An article in the Harvard Business Review opens with the quote “You cannot manage what you don’t measure.” Apply that to digital age business and managers must comply – there is no success if you do not analyze your company, and the surrounding e-vironment.
Here’s an example: archrivals AT&T and Verizon are currently engaged in “investment warfare”, trying to out-compete the other using two different strategies to solve a common problem: data usage. Quick clarification: this is “mobile internet” data (which from here on in I will refer to as “roaming”), not “information” data. Both Telecoms realize they cannot increase roaming rates and are looking to supplement revenue with online video. So what does this mean?
Both companies recognize the future of video as a revenue source, and like we have been saying here at NPAW for a while to maximize video as a money-maker, you have to embrace big data, especially when a recent CIO agenda survey reports that 50% of CIO’s weight business intelligence as a top investment priority.
Another thing: In an interview with Le Monde, Oliver Le Lann, Vice President of HR for Criteo, a targeted online advertiser shares some insights relevant to his field. He stresses how crucial it is for young people who want successful careers should familiarize themselves with information technology and data collection systems, and he should know, this year his company plans on hiring 500 data technicians.
Consider this the first post of an ongoing series on the value of big data to modern enterprise. As a decision making tool, managers must be as informed as possible, and we are here to help. Through YOUBORA’s state-of-the-art, customizable, real time analytics, today’s CDO, Chief Data Officer, would be provided with the knowledge and insights necessary to drive the success of their business, and when business is good, life is good, isn’t it?
Just another thing to think about from us here at NPAW.
Image Courtesy of Shutterstock
James Noeker on April 08th 2016
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