4 Ms of Big Data: Big Data Creates New Value
This is Part 3 of a 5-Part series. Be sure to view the rest of the series below.
The third part of the “4 Ms” of Big Data (“Make Me More Money”) infographic series focuses on how Big Data can create new value for the organization. How? By bringing new efficiencies to your current business processes and uncovering new monetization opportunities.
Big Data can create new value for your organization in the following ways:
- Streamline key business processes by transforming your key business processes with new efficiencies, so they generate more value. Optimize your key business processes—from operations to sales and marketing to service.
- Create new monetization opportunitiesby integrating structured and unstructured data to realize new monetization opportunities. Make better, more detailed decisions—faster. Target new customers. Identify the next hot product. And move faster (and smarter) than your competition.
- Formulate your next business model by taking advantage of your Big Data insights to give you a clear picture of your business today, so you can make better informed, data-fueled decisions about the future.
The infographic provides some factoids about how organizations are creating new business value from Big Data regarding:
- Executive roles to garner and exploit the business potential of Big Data
- Organizational changes that raise the operational and strategic importance of Big Data to the business
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