Create new business models
Industry analysts project that 30 percent of companies will monetize their data and information assets by 2016. After all, the data you capture and the analytics you perform may be immensely valuable to others. This could lead to new sources of revenue from what was once considered just an expense.
Top-performing organizations embrace these more innovative approaches to business strategy. They use analytics to think differently and get answers to questions that no one thought to ask. Outperformers are 3.6 times more likely to be applying analytics than their peers. Running analytics on big data reveals insights about your business, its strengths and weaknesses, and the market in which it operates. It provides new perspectives that can fuel innovation in product development, partnerships and services.
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Communications service providers (CSPs) must create ever-more innovative, data-driven products and services to please sophisticated customers. Using big data analytics, CSPs can analyze location data from millions of mobile devices to reach more customers with personalized, targeted products, services and marketing—creating new revenue opportunities.
Connectivity and mobility inform decisions about how our vehicles are designed, and analytics capabilities can deliver a better, safer driving experience. Capturing sensor data and telematics can improve vehicle safety and operations through self-diagnostics and repair and road condition detection, and may regulate traffic one day.
Cognitive systems like IBM Watson may transform how organizations think, act and operate in the future. Watson can unlock the world of global, unstructured data by applying advanced analytics to evaluate options and “learn” through iteration and interaction to deliver evidence-based responses that drive better outcomes.
Use new perspectives to explore strategic options for business growth
Data-driven products and services
Harness customer, sensor and location data to create new data-driven products and services.
Change the practice and behavior of innovation by using vast amounts of data. Link the right people with the right high-performance computing capabilities to prototype new ideas, prove or disprove hypotheses, or predict best-outcome scenarios.
Forge lucrative alliances with non-traditional partners to create new revenue streams.