BIG DATA Whats the BIG Deal 2014 - Elysium...
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BIG DATA WHAT’S THE BIG DEAL?
Transcript of BIG DATA Whats the BIG Deal 2014 - Elysium...
BIG DATA WHAT’S THE BIG DEAL?
Recently, a senior executive in an ASX top 30 company approached me to ask for some insights for their Chairman who was attending a Big Data conference in the US.
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BIG DATA – What’s the BIG Deal? Recently, a senior executive in an ASX top 30 company approached me to ask for some insights for their Chairman who was attending a Big Data conference in the US. I was pleasantly surprised for two reasons. This topic was important enough for a Chairman to raise an interest (the men and women who Chair companies don’t like to waste time!) and secondly that after they had done some preliminary research, their feedback was there was no succinct advice to prepare them – essentially too much sprawl. In the next few pages you’ll get the exclusive 5 minute overview of what ELYSIUM ROAD found and reported back to executive and his Chairman to help inform the Why, How, Risks and Recommendations for approaching Big Data in contemporary businesses today.
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The flow of this paper will cover:
1. GUIDING PRINCIPLE
2. WHY SHOULD I CARE
3. KEY RELATIONSHIPS
4. ISSUES/ RISKS FOR CONSIDERATION
5. THE EXECUTIVE WRAP
Big Data will drive equivalent to $3.8b or 1.4% of total sales in Australia 1. Guiding principle
It’s not about “IF” so much as it is “HOW” organisations will look to address the concepts around big data, analytics, digital technologies and information integration. 2. The “Why should I care!” proposition
Gartner VP, Frank Buytendijk, posted a great podcast here. In this overview he talks about three things that resonated – Volume of Data, Variety of Data and Velocity of Data. In our fast paced world both personally and professionally we are all seeking ways to have an edge. PWC also produced this PwC publication discussing direction investment and value big data brings. So, at the risk of sounding motherhood, Information and Data is an Asset and seen as key to the productivity drive/ EBIT optimisation of Organisations. Two examples extracted from our research shows RIO TINTO expecting to extract Big Data savings in the order of $90m. The Retail and Consumer value proposition presented by PwC in their 2012 paper suggested Big Data will drive equivalent to $3.8b or 1.4% of total sales in Australia. 3. Key Business Relationships required for you to start contemplating
Whilst the optimum might be a dialogue between the Executive Heads of Strategy, Customer and Marketing, Operations, Information Technology, Operational Technology, Finance, HR along with your Supply chain customers and partners, be realistic. Start with something that resonates with all executives – Operating Expenditure. Why? Because this is something that you can “CONTROL”. Identify where it’s spent, who spends it and where in your value chain you can use greater information to perform better. Here’s a tip, usually it’s in your operational areas! And if your CFO doesn’t have a great relationship with your COO – exit here and get back to the basics. If you get past this hurdle, your not yet done navigating the haters! Remember no executive wants you to waste their time, it’s not only the single resource they can not renew, this will be a new topic on their agenda, so put yourself in their shoes, know your audience, enlist people who have connected relevance and articulated why you need executive attention of this new trend and topic, do your research and enlist stakeholder supporters BEFORE you group together. If you can’t steward supporters that are prepared to talk on your behalf, don’t waste your time – exit here and get back to the basics.
With all things technology related, keep close to the Market Forecast movements and I would also recommend seeking out others who have travelled the path before you and considering collaboration.
It’s not about “IF” so much as it is “HOW” organisations will look to address the concepts around big data, analytics, digital technologies and information Integration.
4. Issues/ Risks for consideration:
• Don’t get caught up in Marketing buzz words. • Technology innovations go through a “HYPE CYCLE”. There has been
recent market contraction as Big Data globally reaches the “Trough of Disillusionment”.
• Organisations approaching Big Data also need to mitigate and align with ever changing audit/ compliance obligations locally and abroad i.e. address potential risks like how solutions will fit within the Australian Privacy Principles (recently changed 2014) and things like the US Patriot act (Research data sovereignty as a side topic).
• Connecting “things” from field devices all the way up the stack to enterprise information analytics and sharing outside our four walls provides additional Physical Asset Infrastructure Security risks, data sabotage risk /associated information security risk.
• Volume, Variety and Velocity of Data presents a challenge as well as Information Integration in a very complex, geographical dispersed asset intensive environment.
• People and skills are evolving – emergence of the Chief Data Architect will be a key role within modern IT/OT environments and it’s suggested the responding structures will require a “Service Brokerage” capability and less of a purist technologist skillset;
5. The Executive Wrap
1. Speak with your Customers, like industry and those executives currently delivering to understand programs and where they expect to be harvesting value.
2. Go down a level and connect with the implementers, understand their learnings and perhaps consider engaging their experienced global partners. Then consider your value proposition and perhaps consider to jointly conduct a pilot between your company and its value chain.
3. Speak with your Technology partners (Internal/ External). If the culture is right, they’ll love you approaching them to work through ways to test the waters.
4. Continue to focus on architecting and exploiting your Business Intelligence platforms and start to architect how you go about connecting internal data and external data sources.
Do you want more?
Contact ELYSIUM ROAD today via our website, social channels phone.
References
a) http://www.gartner.com/technology/research/big-‐data/ b) http://www.pwc.com.au/consulting/assets/publications/Big-‐Data-‐
Oct12.pdf pg. 5 c) Gartner research paper 2013 (Information 20/20: Beyond Big Data) d) http://www.theaustralian.com.au/business/mining-‐energy/big-‐data-‐
saving-‐us-‐90m-‐rio-‐boss/story-‐e6frg9df-‐1226854194999#mm-‐premium) e) http://wikibon.org/wiki/v/Big_Data_Vendor_Revenue_and_Market_Foreca
st_2013-‐2017 f) http://www.datanami.com/2014/05/12/big-‐data-‐analytics-‐market-‐
slows-‐single-‐digit-‐growth/
“Speak with your Customers, like industry and those executives currently delivering to understand programs and where they expect to be harvesting value”
