The most popular and comprehensive Open Source ECM platform
Let us know more
Big Data Disruption: Big Data is Giving Competitive Advantage to First Comers
63 percent of businesses think big data is changing how they do business, according to a recent study by CapGemini and EMC. The boundaries of traditional businesses are moving. New providers are entering industries and areas that seemed until recently to be outside their domain. Competition is increasing. 53 percent of businesses say that they expect to see business competition from data-enabled startups and businesses outside their traditional industry.
Hilary Mason, founder at Fast Forward Labs, said that “the core advantage of data is that it tells you something about the world that you didn’t know before. As your competitors learn more, you’ll need to learn, too…” According to Mason, three trends that are benefiting companies that pioneer big data techniques are the following:
- First, CPUs and data storage have become so cheap that it’s viable to collect and analyze data that previously would have been too expensive.
- Second, we have commodity tools that make it possible to do this without a huge investment in people and infrastructure.
- Finally, we’ve made a lot of progress as data scientists in knowing how to find value in data.
John Brahim, Head of Capgemini Insights & Data global practice, said that “Information is at the heart of every business decision and companies need to fully embrace the opportunities of Big Data or risk losing out in the market place… While some organizations are using Big Data to reduce cost and improve existing performance, others are using it to drive into new markets and ultimately to monetize data in its own right. Every enterprise must now define a path to become an insight-driven business.”
