The Future of Big Data is Here

OnlineBusinessDegree.org recently created an interesting infographic to help explain the future of Big Data.  As one of the hot buzzwords for 2012 it seems a fitting way to start the New Year.    

I like the section explaining how Big Data can be useful:

• It creates transparency that can be used to increase efficiency.
• It allows for better analysis of employee and systems performances.
• It can replace and support human decision making with automated algorithms.
• It creates innovative business models, products and services.

This is helpful guidance as many companies struggle to figure out how to get value out of their Big Data.  With the right analytic and decision making tools, Big Data can be transformed from an unmanageable collection of raw content into valuable insights into how people behave, what they may buy, and how they are likely to respond to specific offers.  This should be an essential component of every business plan. With predictive analytics and decision optimization, companies can use these insights to better predict future customer behavior and adapt their offers and actions accordingly to deliver the right deal to the right customer at the right time within the right context.  When done correctly this results in happier customers and increased profits that also please shareholders.  And that’s a sure way to start the new year right.

See full infographic.