Some organizations struggle to understand the business potential of big data. They are unclear as to the different stages of business maturity. Our Big Data Maturity model benchmarks an organization’s big data business aspirations, and provides a way to identify the level of sophistication desired for data monetization opportunities:
- Business Monitoring – deploys business intelligence to monitor on-going business performance
- Business Insights – leverages predictive analytics to uncover actionable insights that can be integrated into existing reports and dashboards
- Business Optimization – embeds predictive analytics into existing business processes to optimize select business operations
- Data Monetization – creates new revenue opportunities by reselling data and analytics, creating “intelligent” products, or over-hauling the customer engagement experience
- Business Metamorphosis – leverages customers’ usage patterns, product performance behaviors, and market trends to create entirely new business models
For more on the Big Data Storymap, read my full post on the InFocus Blog.
Bill Schmarzo is the Customer Advocate for Data Management Innovation at Dell Technologies. He is currently part of Dell Technology’s core data management leadership team, where he is responsible for spearheading customer co-creation engagement to identify and prioritize the customers' key data management, data science, and data monetization requirements.
Bill is the former Chief Innovation Officer at Hitachi Vantara where he was responsible for driving Hitachi Vantara’s Data Science and “co-creation” efforts. Bill also has served as CTO at Dell EMC where he formulated the company’s Big Data Practice strategy, identified target markets, developed solution frameworks, and led Analytics client engagements. As the VP of Analytics at Yahoo, Bill delivered the analytics tools and applications that optimized customers’ online marketing spend.
Bill is the author of four books and is currently an Adjunct Professor at Menlo College, an Honorary Professor at the University of Ireland – Galway, and an Executive Fellow at the University of San Francisco, School of Management. Bill holds a Master of Business Administration from University of Iowa and a Bachelor of Science degree in Mathematics, Computer Science and Business Administration from Coe College.