Big Data — What ROI Leaders Are Doing Differently


While it is true that many businesses are seeing increases in their bottom lines, thanks to Big Data, it is also true that NOT all companies that have adopted it are making as much profit. What are Big Data ROI leaders doing differently?

In a report published at hbr.org, Satya Ramaswamy (VP and global head of Tata Consultancy Services’ Digital Enterprise group) reveals factors that differentiate leaders from laggards…

1. Leaders, on the average, outspent laggards on Big Data by more than a factor of three.

2. Leaders were more internet-centric even in cases where such companies where NOT necessarily internet-based companies like Amazon or Netflix. For example, Leaders had 42% of their orders via the internet whereas laggards had just 29%.

3. Leaders generally see more potential in Big Data. They see it as affording them a better opportunity to improve services, marketing, sales, R&D, etc.

4. Leaders make unstructured data an important part of their data sets. They also make use of external data more aggressively.

5. Leaders centralized data analysts, removing them from business functions.

One thing seems obvious: Companies who embrace Big Data are leading the field. That is, provided they are doing it the right way.

 

Thanks to http://www.bigdatacompanies.com/big-data-what-roi-leaders-are-doing-differently/

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