By MIT CIO | April 13, 2008
Analytics are the heart of Balancing Innovation and Cost Leadership In Your Business. With ever increasing business drivers and unlimited choices to customers across the globe, you not only need to know what, but why business events are occurring. What is going to happen and how to prepare for the unknown business challenges? Here, the Analytics, when embedded within the business events, will determine how your business will remain competitive and profitable. Traditional Data Warehousing and Business Intelligence solutions do not serve well in today’s business models because they were designed to capture information purely from transaction systems (structured) and importantly, after the fact. Later when intelligence is derived from the captured information and interjected back in the business process, it is too late – the opportunity (customer!) is gone. You are left with a lost-click impression.
Today, WEB 2.0 environment opens up several new information-channels that were completely unknown just a few years back. Synthesizing content generated through social networks, blogs, chats etc. to derive action-able intelligence is becoming more important than the traditional structured-transaction oriented data. Emerging Web2.0 technologies are creating another island of applications in the enterprise. Thriving industries highly investing and implementing analytics within their business events while other industries faced with economic downturn are also relying on analytics to identify new business/product opportunities to sail-through choppy-business climate. The challenge for CIOs is, how to provide a futuristic information framework that does more with fewer resources and also analytics 2.0 aware to support rest of the business operation.To discuss all these Analytics challenges, our panelists represent thriving and not so thriving industries. They will address Analytics 2.0 from all angles: What analytics they have implemented? What cultural and technical issues they are facing?