Alexandra Levits Water Cooler Wisdom Where Big Data and Analytics Are Headed

Alexandra Levit's Water Cooler Wisdom Where Big Data and Analytics Are Headed An IDC FutureScape webinar discussed the key predictions that will impact the Big Data, business analytics, and cognitive software markets over the next one to three years. I had the opportunity to attend a session hosted by Dan Vesset, Group Vice President, Analytics and Information Management at IDC and David Schubmehl, Research Director at IDC. I came away learning a lot about how leaders inside and outside of IT can leverage developments to inform and guide their technology implementations. Before I highlight the predictions, it’s worth noting what’s driving them worldwide. Vesset and Schubmehl cited the rise of computer-based intelligence, shifting economics with data as digital capital, a global demand for digital workers, a platform economy, the convergence of technology and privacy, and the revolutionizing of industrial and commercial processes. In the last year, we’ve talked about almost all of these here! Data Monetization By the end of 2017, revenue growth from information-based products will double the rest of the product/service portfolio for one third of Fortune 500 companies. Raw data and various value-added content will be bought and sold either via marketplaces or in bilateral transactions, and organizations will begin to develop approaches and methods for valuing their data. The analysts recommended that leaders begin developing plans for valuing data as a strategic asset, and assess interaction with all external parties to understand the value of data in relationships. Embedded Cognitive/AI By 2018, 75 percent of enterprise and ISV development will include cognitive/AI or machine learning functionality in at least one application, including all business analytics tools. New enterprise software will necessitate the review of existing IT and business processes, and enterprise application upgrade cycles may accelerate to leverage cognitive/AI features. The analysts suggested that leaders prepare by reviewing IT providers’ cognitive/AI capabilities and/or roadmaps, and that they model the potential value of cognitive/AI functionality business outcomes. For more where this came from, have a look at the QuickBase Fast Track blog.