|By PR Newswire||
|August 20, 2014 01:11 PM EDT||
COLUMBUS, Ohio, Aug. 20, 2014 /PRNewswire/ -- Most companies today have little idea how to turn data into dollars – let alone turning big data into big dollars. Yet most companies still want to capitalize on the promise big data holds for insights into opening new markets, acquiring new customers and retaining existing ones. The question is: "How?" ICC, the Business and IT Solutions company that correctly predicted the 2014 Oscars and designs collaboration solutions for today's workforce, has outlined five steps that can help organizations avoid being part of the estimated 70 percent of companies that fail to achieve business value projected from their big data initiatives.
"Any major technology initiative by your organization demands a sound strategy aligned with your business goals," says Steve Grover, VP of Business Analytics at ICC. "It is not simply the latest shiny object to be enjoyed for a while, then, tucked away discreetly when it doesn't fulfill expectations that were never properly defined."
Five Steps for Businesses to Turn Data into Dollars
Grover offers some guidance for IT and line of business professionals when looking to extract value from their data initiatives.
Step One: Find the right business case
Data analytics is all about measuring and monitoring and, based on what you learn, making changes to the way you do business. "If you are not willing to make necessary changes based on what you learn from the data, then you have the wrong business case and you will be wasting your time," says Grover.
Step Two: Assemble the right team
If you think of analytics as a football team then it requires an owner, a coach, a quarterback and a center. The rest of the team forms around this nucleus. The owner is the primary business sponsor and must be a VP or C-level executive. The coach should be a consultant or firm that specializes in analytics. The quarterback is a line of business person who has the expertise to keep the project focused on business outcomes and the center of the line is held by IT. The coach works on a daily basis with the quarterback and the center to produce an effective outcome.
Step Three: Get the requirements right
There are three critical sub-steps to gathering requirements effectively: First, understand the business questions and the metrics (and associated dimensions) required to answer those questions. Second, prototype and validate that the solution will answer the questions to achieve the benefits. And third, make sure the data required for the production solution is actually being captured by the source system!
Step Four: Build incrementally
The days of being handed $2 million and waiting a year for results are over. New analytic capability should be delivered on an ongoing basis – every 3-4 months minimum. "If any of your partners suggest otherwise, it may be time to make a change on the team," says Grover.
Step Five: Begin with the end in mind
Analytics solutions are living processes, the more changes and additions requested of an analytic solution, the healthier it is and the more valuable it becomes. Conversely, if no one is requesting changes the solution is likely dead – perhaps because no one is using it. "If you begin with the end user in mind, asking 'Who is going to be using your data?', 'Who is going to benefit from it and how?' the project will be much more successful," says Grover. "Remember that data is not, in itself, a solution, but a tool that enables the solution."
Want to Learn More?
- See what ICC CEO Steven Glaser has to say about data analytics and more at http://bit.ly/1naqJ5Z
- ICC takes a look at many different technology topics in our Insights page at http://bit.ly/1q0FFam
ICC (Information Control Company), based in Columbus, Ohio, is a leading provider of enterprise technology solutions. With a staff over 500 highly trained consultants, we are experts in Strategy, User Experience, Visual Design, Engineering, Project Management, Business Analytics and Quality Assurance. Using these skills, we develop and deploy innovative, business-critical solutions that enable Fortune 500 and mid-market organizations to improve operational efficiencies. Our Business, Digital and Technology solutions give our clients a competitive advantage that helps them drive revenues and increase margin.
Farsite, the advanced analytics division of ICC, specializes in helping companies use Big Data and predictive analytics to empower smart business decisions, solve their toughest challenges and gain a distinctive competitive advantage. For more information visit www.FarsiteGroup.com.
Clutch is a world-class digital ad agency inside the walls of ICC. Together, they're a collection of seasoned strategists, user experience specialists, writers, art directors and developers who specialize in the art and science of interactive conversations.
ICC is a Microsoft Gold Certified Partner and an IBM Premier Business Partner. ICC is committed to serving its clients, community and country by developing U.S.-based leaders who work hard to strengthen the American economy. More information is available at http://www.icctechnology.com.
SOURCE Information Control Company
Performance is the intersection of power, agility, control, and choice. If you value performance, and more specifically consistent performance, you need to look beyond simple virtualized compute. Many factors need to be considered to create a truly performant environment. In their General Session at 15th Cloud Expo, Phil Jackson, Development Community Advocate at SoftLayer, and Harold Hannon, Sr. Software Architect at SoftLayer, to discuss how to take advantage of a multitude of compute option...
Sep. 25, 2014 03:30 PM EDT Reads: 1,828
Come learn about what you need to consider when moving your data to the cloud. In her session at 15th Cloud Expo, Skyla Loomis, a Program Director of Cloudant Development at Cloudant, will discuss the security, performance, and operational implications of keeping your data on premise, moving it to the cloud, or taking a hybrid approach. She will use real customer examples to illustrate the tradeoffs, key decision points, and how to be successful with a cloud or hybrid cloud solution.
Sep. 22, 2014 10:00 PM EDT Reads: 2,367
In today's application economy, enterprise organizations realize that it's their applications that are the heart and soul of their business. If their application users have a bad experience, their revenue and reputation are at stake. In his session at 15th Cloud Expo, Anand Akela, Senior Director of Product Marketing for Application Performance Management at CA Technologies, will discuss how a user-centric Application Performance Management solution can help inspire your users with every appli...
Sep. 22, 2014 03:30 PM EDT Reads: 2,011
With the explosion of the cloud, more businesses are transitioning to a recurring revenue model to generate reliable sales, grow profits, and open new markets. This opportunity requires businesses to get to market quickly with the pricing and packaging options customers want. In addition, you will want to take advantage of the ensuing tidal wave of data to more effectively upsell, cross-sell and manage your customers. All of this is possible, but only with the right approach. At 15th Cloud Exp...
Sep. 12, 2014 11:45 PM EDT Reads: 1,514
Planning scalable environments isn't terribly difficult, but it does require a change of perspective. In his session at 15th Cloud Expo, Phil Jackson, Development Community Advocate for SoftLayer, will broaden your views to think on an Internet scale by dissecting a video publishing application built with The SoftLayer Platform, Message Queuing, Object Storage, and Drupal. By examining a scalable modular application build that can handle unpredictable traffic, attendees will able to grow your de...
Sep. 12, 2014 11:30 PM EDT Reads: 1,816
The cloud provides an easy onramp to building and deploying Big Data solutions. Transitioning from initial deployment to large-scale, highly performant operations may not be as easy. In his session at 15th Cloud Expo, Harold Hannon, Sr. Software Architect at SoftLayer, will discuss the benefits, weaknesses, and performance characteristics of public and bare metal cloud deployments that can help you make the right decisions.
Sep. 11, 2014 10:30 PM EDT Reads: 2,296
Over the last few years the healthcare ecosystem has revolved around innovations in Electronic Health Record (HER) based systems. This evolution has helped us achieve much desired interoperability. Now the focus is shifting to other equally important aspects – scalability and performance. While applying cloud computing environments to the EHR systems, a special consideration needs to be given to the cloud enablement of Veterans Health Information Systems and Technology Architecture (VistA), i.e....
Sep. 10, 2014 06:30 PM EDT Reads: 3,700
Cloud and Big Data present unique dilemmas: embracing the benefits of these new technologies while maintaining the security of your organization’s assets. When an outside party owns, controls and manages your infrastructure and computational resources, how can you be assured that sensitive data remains private and secure? How do you best protect data in mixed use cloud and big data infrastructure sets? Can you still satisfy the full range of reporting, compliance and regulatory requirements? I...
Sep. 10, 2014 03:00 PM EDT Reads: 2,794
Scott Jenson leads a project called The Physical Web within the Chrome team at Google. Project members are working to take the scalability and openness of the web and use it to talk to the exponentially exploding range of smart devices. Nearly every company today working on the IoT comes up with the same basic solution: use my server and you'll be fine. But if we really believe there will be trillions of these devices, that just can't scale. We need a system that is open a scalable and by using...
Sep. 6, 2014 06:45 PM EDT Reads: 5,101
Is your organization struggling to deal with skyrocketing volumes of digital assets? The amount of data is growing exponentially and organizations are having a hard time managing this growth. In his session at 15th Cloud Expo, Amar Kapadia, Senior Director of Open Cloud Strategy at Seagate, will walk through the essential considerations when developing a cloud storage strategy. In this discussion, you will understand the challenges IT is facing, why companies need to move to cloud, and how the...
Sep. 6, 2014 02:00 PM EDT Reads: 1,813
If cloud computing benefits are so clear, why have so few enterprises migrated their mission-critical apps? The answer is often inertia and FUD. No one ever got fired for not moving to the cloud – not yet. In his session at 15th Cloud Expo, Michael Hoch, SVP, Cloud Advisory Service at Virtustream, will discuss the six key steps to justify and execute your MCA cloud migration.
Sep. 6, 2014 11:00 AM EDT Reads: 1,837
The 16th International Cloud Expo announces that its Call for Papers is now open. 16th International Cloud Expo, to be held June 9–11, 2015, at the Javits Center in New York City brings together Cloud Computing, APM, APIs, Security, Big Data, Internet of Things, DevOps and WebRTC to one location. With cloud computing driving a higher percentage of enterprise IT budgets every year, it becomes increasingly important to plant your flag in this fast-expanding business opportunity. Submit your speak...
Sep. 5, 2014 02:15 PM EDT Reads: 3,027
Most of today’s hardware manufacturers are building servers with at least one SATA Port, but not every systems engineer utilizes them. This is considered a loss in the game of maximizing potential storage space in a fixed unit. The SATADOM Series was created by Innodisk as a high-performance, small form factor boot drive with low power consumption to be plugged into the unused SATA port on your server board as an alternative to hard drive or USB boot-up. Built for 1U systems, this powerful devic...
Sep. 4, 2014 07:15 PM EDT Reads: 9,064
SYS-CON Events announced today that Gridstore™, the leader in software-defined storage (SDS) purpose-built for Windows Servers and Hyper-V, will exhibit at SYS-CON's 15th International Cloud Expo®, which will take place on November 4–6, 2014, at the Santa Clara Convention Center in Santa Clara, CA. Gridstore™ is the leader in software-defined storage purpose built for virtualization that is designed to accelerate applications in virtualized environments. Using its patented Server-Side Virtual C...
Sep. 4, 2014 01:45 PM EDT Reads: 2,382
SYS-CON Events announced today that Cloudian, Inc., the leading provider of hybrid cloud storage solutions, has been named “Bronze Sponsor” of SYS-CON's 15th International Cloud Expo®, which will take place on November 4–6, 2014, at the Santa Clara Convention Center in Santa Clara, CA. Cloudian is a Foster City, Calif.-based software company specializing in cloud storage. Cloudian HyperStore® is an S3-compatible cloud object storage platform that enables service providers and enterprises to bui...
Sep. 3, 2014 07:00 PM EDT Reads: 3,304
SYS-CON Events announced today that TechXtend (formerly Programmer’s Paradise), a leading value-added provider of server and storage virtualization, and r-evolution will exhibit at SYS-CON's 15th International Cloud Expo®, which will take place on November 4–6, 2014, at the Santa Clara Convention Center in Santa Clara, CA. TechXtend (formerly Programmer’s Paradise) is a leading value-added provider of software, systems and solutions for corporations, government organizations, and academic instit...
Sep. 3, 2014 01:00 PM EDT Reads: 2,582
Every healthy ecosystem is diverse. This is especially true in cloud ecosystems, where portability and interoperability are more important than old enterprise models of proprietary ownership. In his session at 15th Cloud Expo, Mark Baker, Server Product Manager at Canonical/Ubuntu, will discuss how single vendors used to take the lead in creating and delivering technology, but in a cloud economy, where users want tools of their preference, when and where they need them, it makes no sense.
Sep. 3, 2014 09:00 AM EDT Reads: 2,661
The consumption economy is here and so are cloud applications and solutions that offer more than subscription and flat fee models and at the same time are available on a pure consumption model, which not only reduces IT spend but also lowers infrastructure costs, and offers ease of use and availability. In their session at 15th Cloud Expo, Ermanno Bonifazi, CEO & Founder of Solgenia, and Ian Khan, Global Strategic Positioning & Brand Manager at Solgenia, will discuss this shifting dynamic with ...
Sep. 2, 2014 11:00 PM EDT Reads: 1,522
The emergence of cloud computing and Big Data warrants a greater role for the PMO to successfully manage enterprise transformation driven by these powerful trends. As the adoption of cloud-based services continues to grow, a governance model is needed to orchestrate enterprise cloud implementations and harness the power of Big Data analytics. In his session at 15th Cloud Expo, Mahesh Singh, President of BigData, Inc., to discuss how the Enterprise PMO takes center stage not only in developing th...
Sep. 2, 2014 11:00 PM EDT Reads: 1,980
Cloud computing started a technology revolution; now DevOps is driving that revolution forward. By enabling new approaches to service delivery, cloud and DevOps together are delivering even greater speed, agility, and efficiency. No wonder leading innovators are adopting DevOps and cloud together! In his session at DevOps Summit, Andi Mann, Vice President of Strategic Solutions at CA Technologies, will explore the synergies in these two approaches, with practical tips, techniques, research dat...
Sep. 2, 2014 02:30 PM EDT Reads: 3,825