Bye Bye, Big Data – Hello Intelligent, Fast Data
Big data and analytics are at a make-or-break point. Costs and C-level frustrations are mounting, and proven business cases and value from analytics have been slow to appear. The whole paradigm needs to shift from the Stop-Store-Find-Analyse-Decide-Do approach, to one in which data is refined and analysed simultaneously – and as it flows, actions are taken automatically, and in- sights are drawn instantly. Every time we stop and store data, it loses it ́s real value: in-the-moment insight and foresight.
Of utmost importance here is the “invisible intelligence” hidden in every layer of customer interactions, operations and technology infrastructure, which – if leveraged –grants a significant competitive advantage. Gartner describes “advanced, per- vasive and invisible analytics” as those embedded within a new range of sources, including wearables, social media and the Internet of Things (IoT).
These sources all yield crude data that, when refined, can better inform everything from digital and communications service
providers’ marketing campaigns to IT operations and business decisions. A new technology layer – one we like to call the “Data Refinery” – will be added to corral and synthesise big data into au- tomated and accurate actions.
Implementing Operation Nexterday
Every digital and communications service provider needs to com- mit to its own Operation Nexterday. How will business look the day after tomorrow? Are we prepared? Do we know what ́s need- ed next? No one knows for sure what the future holds, but it’s clear the era of operational inflexibility and fixed, hard-coded models is over.
Taking advantage of increased flexibility, some are experi- menting with long-tail and mass-tailored offerings with third parties to maximise fresh revenue opportunities, while others are looking towards NFV. Still others are starting to use fast data and bolt on analytics to build in an invisible intelligence layer within their business.
There is one clear target and answer to focus on: to manage the mounting complexity and friction caused by the four forces explained earlier, choose technologies and processes that are designed to eliminate the hurdles.
Operation Nexterday seeks to define a new way of approach- ing an old challenge: determining the right customers for your business, learning what they want, and then delivering an op- portunity for them to buy at the right time. However, our steady march into the digital age has required this entire process to happen almost instantaneously.