Turning Information into a Strategic Asset #BISUM
- Big Data and the BI Consumer #BISUM: http://goo.gl/2XDz4V
- Turning Information into a Strategic Asset #BISUM: http://goo.gl/NTgC6t
- Return on Investment: Making Our Projects Make Sense #BISUM: http://goo.gl/LHWIjx
- Does the Data Scientist Have Mojo? #BISUM: http://goo.gl/2gOkHP
- The Business and Technology Benefits of In-Memory Computing #BISUM: http://goo.gl/bvbmvQ
Next up is “Turning Information into a Strategic Asset” from . Shawn Rogers of Enterprise Management Associates and Yves de Montcheuil of Talend.
This may be a concept stretch for midsize companies, but should big data be on the balance sheet?
Defining big data is becoming a hobby. Shawn has 10 V’s!
For a long time, data has been subordinated to applications that “own” it. As organizations embark onto efforts to assess, streamline and govern their application portfolio, data is too often left behind, hindering any ability to actually leverage it as an information asset.
At the same time new technologies such as Hadoop are allowing companies to acquire and manage data more creatively, often without structure, data models or schemas, adding to the challenge.
Data used to boss around applications, which led to duplicate information, waste and reinventing the wheel. We invented ETL, EII, MDM and other domains to fix it.
We’ve been talking about governance for a long time.
Are the new trends affecting the value of our data?
People with big data projects are doing immature things.
The top business challenge planned for big data projects is operational in nature, like point-of-sale, billing and customer care.
It’s about getting the big data into the same governance, data quality, etc. as traditional data. Play together!
Claudia liked the idea, from several years ago, of putting a value on corporate data – on the balance sheet. Jill talked about how hard it is to place a value on data.
The value would really be on the information.
Some companies sell data. How do they price it?
Some companies would go out of business without their data (i.e., Amazon, Netflix, Zappos).
Data is an attribute of the application.
As storage gets cheaper, we’ll have MORE redundancy of data, finely tuned fit for purpose.
This post was written as part of the IBM for Midsize Business program, which provides midsize businesses with the tools, expertise and solutions they need to become engines of a smarter planet. I’ve been compensated to contribute to this program, but the opinions expressed in this post are my own and don’t necessarily represent IBM’s positions, strategies or opinions.