Innovation may have found a best buddy in big data. Data is omnipresent on pretty much everything that’s needed to run, sustain, and innovate in a business. For example, big data practices may provide insight into customers’ needs and products/service to meet those needs. Running a business is all about making right decisions at right time. If utilized appropriately big data should enhance decision making capabilities in timely manner. It’s also going to change traditional way of running a business e.g. from product forecasting to near real time determination of market.
R&D can also benefit from real time data so that timely adjustments can be made to existing portfolio of projects.
Market analysis, based on big data, should also result in better customer segmentation and target marketing.
Pretty much everything we do today should be looked at with big data lenses to support innovation and decision making. Future is now and big data adoption is a necessity to start viewing future with the lens of big data…