This site uses cookies to provide you with a more responsive and personalized service. By using this site you agree to our use of cookies. Please read our cookie notice for more information on the cookies we use and how to delete or block them.

Bookmark Email Print this page

4 Places Big Data Makes Sense – And Why It’s Worth Getting There

Short Takes...on Analytics

Posted by Forrest Danson, Principal, Deloitte Consulting LLP

Small data. Big data. Medium data – we’ve begun to talk about data like a combo meal from the fast-food drive through. Regardless of its multiple flavors and sizes, data is now front and center in organizations that are paying attention to the flow of minable information from inside and outside of the organization. The following are four areas big data and analytics are shaping how businesses operate.

  • Exploit faint signals: Multiple and disparate data sources are teaming with faint but substantive signals that can be translated into business insight. Analytics can help organizations extract value from information they could not access previously.
  • Imagery and video analytics: Unstructured data -- social media, photographs, videos, and the like – is valuable data, but it's also difficult to capture and translate into value. Analytics can help extract intelligence to provide deeper insights that can support workforce planning, risk and compliance, and security.
  • Nurture experimentation: Analytics can help gather intelligence from the marketplace of human behavior and systems to determine correlation and causation. Armed with these insights, businesses can fine tune strategies and drive performance.
  • Deliver real-time impact: Because of its velocity, big data can have an up-to-the-minute impact on organizations in terms of decision-making and direction. Analytics can help bring big data insights to the frontline workforce to create competitive differentiation.

Data comes in all sizes and from myriad sources. The challenge and opportunity for businesses is to identify what data is strategically important and how to interpret and convert it into the fuel that powers innovation.

This publication contains general information only and Deloitte is not, by means of this publication, rendering accounting, business, financial, investment, legal, tax, or other professional advice or services. This publication is not a substitute for such professional advice or services, nor should it be used as a basis for any decision or action that may affect your business. Before making any decision or taking any action that may affect your business, you should consult a qualified professional advisor.

Deloitte shall not be responsible for any loss sustained by any person who relies on this publication.

About Deloitte
Deloitte refers to one or more of Deloitte Touche Tohmatsu Limited, a UK private company limited by guarantee, and its network of member firms, each of which is a legally separate and independent entity. Please see www.deloitte.com/about for a detailed description of the legal structure of Deloitte Touche Tohmatsu Limited and its member firms. Please see www.deloitte.com/us/about for a detailed description of the legal structure of Deloitte LLP and its subsidiaries. Certain services may not be available to attest clients under the rules and regulations of public accounting.

Copyright © 2012 Deloitte Development LLC. All rights reserved

 

Related links

Share this page

Email this Send to LinkedIn Send to Facebook Tweet this More sharing options

Stay connected