Using “two speed” IT, where specialist business and IT teams fast-track digital development, businesses can get a jump on high-value customer initiatives even as they build out their longer-term transformation. Welcome to Big Data in Action. According to the European Commission, by 2020 the value of personalized data will be 1 trillion euros, almost 8% of the EU’s GDP. This method only works well if there are a sufficient number of similar businesses to compare. Recent Gartner research has found that organizations believe poor data quality to be responsible for an average of $15 million per year in losses. Software overlays can link data silos among different lines of business, and semantic layers can funnel information into a user-friendly interface. There is no standard practice or formula set in place to assess the value of data, but many more nations are becoming conscious of the enormous value data economy is creating. Poor data quality destroys business value. According to the research firm IDC, the market for Big Data and analytics technology will grow to over $34 billion by 2017, up from just $3.2 billion in 2010. As mentioned a few times, organizations have been focusing (far too) long on the volume dimension of ever more – big – data. Recent Gartner research has found that organizations believe poor data quality to be responsible for an average of $15 million per year in losses. This treasure trove of data and high-tech analytics platforms give business executives powerful new tools to increase performance across every segment of … Possibly the best-guarded secret in business analytics is that, in practice, its success comes down not only to organizational culture but also to the ability of managers to successfully sell the value of analytics. Data is no longer the domain of tech companies or IT departments — it is fast becoming a centerpiece of corporate value creation more generally. The idea is similar to using real estate comps, or comparables, to value a house.

Market value approaches to business valuation attempt to establish the value of your business by comparing your company to similar ones that have recently sold. This isn’t too much of a surprise of course. By Sandra Durcevic in Business Intelligence, Sep 11th 2019. Moving to high-value data and use cases: the place of Big Data in transformation.

13 Analytics & Business Intelligence Examples Illustrating The Value of BI. David Gonzalez is the Head of Big Data and Advanced Analytics, Vodafone Business.