As data grows, so do the responsibilities of IT. The International Data Corporation (IDC) predicts that in 2014 alone, our total digital universe will grow by 50% to 6 trillion terabytes. In response, IT spending on Big Data is expected to grow by 30%.
It’s up to you to create and drive the vision for harnessing, leveraging, and capitalizing on data in your organization. But before you can extract any actionable insights, you must first build a robust information architecture that can manage, govern, and secure the data from a single source. Move slowly on either of these factors, and you risk getting passed up by the competition.
Competition in the “3rd Platform” – built on the four technology pillars of Big Data, cloud, mobile, and social technologies – will seriously disrupt market leadership ranks in all industries. IDC predicts that by 2018, one-third of the top 20 market-share leaders in most industries will face increased competition that uses the 3rd Platform to create new offerings, business models, and cost structures to drive revenue and expand value. A race to grab competitive advantage through valuable insights is under way. Are you ready to compete?
The secret is out
Big Data’s role in business is not a secret anymore. As you well know, it’s not enough to just have the most data available; it’s how you use it that offers the competitive edge. Big Data is the single greatest asset to attain customer centricity. By extracting meaningful, actionable insights directly from your customers, you enable your business users to cater the customer experience to individual likes, pain points, and more.
Every employee now expects easy access to your organization’s data and the insights that come with it. But more access naturally leads to questions about information security.
The value of Big Data comes only when the data is organized, clean, and trustworthy. Effective information governance brings your large volume and variety of data into a single delivery process, reducing redundancy and ensuring a single narrative of data analysis is developed. This means you spend less time verifying your data and more time assessing its value to the enterprise in real time.
Weathering the storm
There are many predictions about Big Data and the best ways to manage it. Rather than getting caught up in all the hype, you need to prepare your company to be fully adaptable to whatever may come. Working with a trusted technology partner can enable your IT organization, as well as your enterprise, to rapidly innovate and adapt to market forces without big disruptive changes to your platform infrastructure.
Learn more about how Big Data is predicted to affect the IT agenda. Download the IDC white paper, “IDC Predictions 2014: Battles for Dominance – and Survival – on the 3rd Platform.”