How do you go from accumulating the growing amount of abstract and diverse data to gaining insights for making substantial impact.
In creating value with big data analytics beta, Peter C Verhouf, Edwin Coker and Natasha Wolk introduce a framework that is applicable to any business not by focusing on the technical abstract site of Big Data but by taking a more practical approach starting with the business objectives. To begin It takes certain capabilities to define the right questions and to apply analytics that generate the right answers to these questions. This input is at the heart of the Big Data value creation model.
The first step is to define the right key performance indicators to measure the value to your firm and the value to your customers at three levels market, brand and customer
Second is to define a data strategy to identify the data you can use to monitor. These KPIs this strategy can be redefined and broadened at any stage then retrieve merge and analyze the data as determined. This is where all the
effort comes together
The final step is to gain insights and create access via an actionable dashboard this framework provides any company easy access to valuable insights to make a significant impact on their business. To learn more.