Last week IBM’s Institute for Business Value released their latest analytics study. The important takeaway this time around: The need for speed.
In 2014, several significant shifts occurred in the realm of big data – shifts business executives cannot afford to ignore. The most significant change: Velocity is now the value driver for big data.
Enter the speed advantage. Our sixth annual analytics study revealed a small group embracing this shift for competitive advantage. These organizations are significantly impacting business performance and market position through speed-driven data and analytics practices. To compete in today’s digitally infused marketplace, organizations need to emulate these outperformers by swiftly acquiring, analyzing and acting on data.
These organizations – known as Front Runners – are embracing a data approach that seeks to minimize the time it takes to convert raw data into actions that positively impact business. Front runners do things differently from their competitive peers. They have implemented technologies and business models to acquire, analyze and act on data with speed and agility. They have honed their data management and analysis processes, enabled employees to access and act on insights at every opportunity, and begun to transform their organizations through end-to-end actions that combine digital interactions with business process re-invention.
In our 2014 study, “Analytics: The speed advantage,” the IBM Institute for Business Value delves into the habits of these speed-driven organizations to understand the best practices that differentiate them from others in the global marketplace. We examine the capabilities that enable them to more quickly acquire and manage data, analyze data faster, and act on data insights with speed and precision.
Download the full study here (registration required).