While the rest of the world is focused on volume, velocity and variety, Big Data has a real challenge that is larger than distributed storage and processing and larger than sources and types of data.
It has a problem I’ll call the Big Lever. Put another way, “What do you do once you think you’ve engineered something meaningful? How will you pull the ‘business lever’?“
The balanced scorecard, the methodology developed by Drs. Robert S. Kaplan and David Norton, recognizes the shortcoming of executive management’s excessive emphasis on after-the-fact, shortterm financial results. It resolves this myopia and improves organizational performance by shifting attention from financial measures and managing nonfinancial operational measures related to customers; internal processes; and employee innovation, learning, and growth. These influencing measures are reported during the period when sooner reactions can occur. This in turn leads to better financial results.
There is confusion in the marketplace about the term performance management. Just Google the term and you will see what I mean.
The confusion begins with which phrase we should use to refer to performance management. This confusion in part is due to semantics and language. We often see in the media the acronyms BPM for business performance management, CPM for corporate performance management, and EPM for enterprise performance management. But just as the words merci, gracias, danke scho¨n, and thank you all mean the same thing, so do these acronyms. Fortunately, information technology (IT) research firms like IDC and Gartner are accepting the short version, and simply calling it performance management.
What is Business Intelligence? Listen to a brief history of BI, where we’ve been, where we are now, and where we are going. To learn more and read the related blog post, you can click here…http://blogs.msdn.com/bi
Over a period of 6 weeks, a few Wharton professors studied data provided by ESPN to determine whether the amount of money that sports teams pay for their players can predict how well the team will perform.
Which sport do you think was highly predictable, which were not? The results will surprise you.
Imagine for a moment that the only way you could have a car was to buy the individual components from one or more manufacturers. Suppliers would be selling the power of their engines, dashboard vendors would ‘wow’ you with their fancy dials and gauges, while those supplying the control mechanisms would impress you on the benefits of using the latest technology. As it would be up to you to put it all together, integration would be a key requirement for those with previous ‘car-building’ experience.
As sales processes change with the economic conditions, marketing has been expected to become more responsive to return on investment. Obviously collecting customer data is not enough; marketing must contribute to the analytical process. Unfortunately, data is collected in multiple sources such as internal databases and external social networks. How can marketing effectively and successfully add value and dollars to the bottom line with the data available within the organization?
Every major city, like New York or Paris, is experiencing high automobile traffic density. Crude solutions to limit the number of cars entering city boundaries, such as in London, include pricey city entry tolls and restrictive car tag registration fees. There are not much analytics involved there. But that type of controlled city access does not solve the aggravating problem of insufficient – often non-existent – available street parking that worsens traffic congestion.
Pity the enterprise software conglomerate, its salespeople abandoned at the altar, its customers fleeing from committed relationships. Shed a tear for the server maker, no longer able to lock-in long-term sales, support and service engagements. Their customers are cheating on them with sexy new startups.
I am certain that I have broken the rules of meters in my limerick poem below. My excuse is that I am not a poet!