The importance of data has changed. As the volume, variety and velocity of the data grew over the past few years, the data has been transformed to provide organizations a broader, more granular and more real-time range of customer, product, operational and market interactions. Today, business leaders see data as a monetization opportunity, and their organizations are embracing data and analytics as the intellectual capital of the modern organization.
The Internet of Things is accelerating this drive towards “data monetization.” However organizations are quickly learning that you don’t necessary monetize the data as much as you monetize the customer, product, and operational insights derived from the data to create new revenue opportunities: new products, new services, new channels, new markets and new partnerships (see Figure 1).
The power of data in healthcare is nothing new. In 1846, a Hungarian doctor named Ignaz Semmelweis collected data to uncover why so many women in maternity wards were dying from childbed fever. After several outlandish theories, he discovered that medical students were transferring cadaverous particles from autopsies and thus one of the first infection-control hand-washing protocols was born. As a result, the rate of childbed fever fell dramatically. By using data to reach his conclusion, Dr. Semmelweis was a data scientist before his time. (more…)
As I look back on my experience at Mobile World Congress (MWC) held last month in Barcelona, I’m struck by how rapidly the Telco and Service Provider industry is changing. As I mentioned in my previous post Telcos and service providers are all engaged in large, complex, multi-year infrastructure and service delivery transformations. The technology transformation is the replacement of dedicated network appliances such as routers and cellular network switches with software running on commercial off-the-shelf hardware. The industry term for this is Network Functions Virtualization(NFV). The aim of NFV is to reduce the time to service, and cost for Communication Service Providers (CSPs) to deliver network services.
Today, EMC releases the State of IT Transformation – the results of an analysis of more than 660 Transformation Workshops we’ve conducted with CIOs and their direct reports. These global organizations are evaluating their current state, assessing gaps, and prioritizing actions they can take to create a digital-ready IT organization that the business needs. (more…)
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