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There are 4 item(s) tagged with the keyword "big data".
We have entered the era of big data and are experiencing its major implications on the way we do business firsthand. According to this McKinsey article (available with a free registration), “companies with more than 1,000 employees store, on average, over 235 terabytes of data- more data than is contained in the US Library of Congress.”
The power of big data is not the data itself but the way companies use it to guide decision-making in all areas of their business. MIT Sloan Management Review put out a research report with some interesting insights about how top performing and lower performing companies use analytics.
It does not come as a surprise that top performers excel at leveraging their data for the best business results; they are 5 times as likely to use analytics as their lower performer peers.
Our illustrious CEO, John Hamm is at it again - talking the talk and walking the walk of ‘data’ and how to make use of it in his Financial Times article out this week titled ‘Innovation Needs Big Data’ (registration is free but required to view the article).
Product companies, John points out, would have a lot more success if they were able to make better use of their data to inform and steer their product planning based on what their customers want.