Big Data Readiness Framework Part II: Identify Analytic Use Cases That Drive Business Initiatives
So, let’s say that you’re “undecided”, and maybe need some guidance on where to start – how to identify a use case that will help drive one of your strategic business initiatives. The right approach is to bring IT and the Business together.
EMC has worked with numerous customers to do just that. We call this our Big Data Vision Workshop, which starts off with a little “pre-work” to identify business & IT participants and conduct interviews, identify & secure relevant sample data sets, and then apply data science work efforts and use visualization tools to mock up “what’s possible”.
Then, in the actual onsite workshop itself, we’ll review target use cases and the visual mock ups. With business and IT stakeholders, we’ll prioritize the most impactful use cases by weighing the business benefits against the feasibility of implementation, and create a roadmap of next steps for execution. Ultimately we’ll help you zero in on that first “killer” use case that is likely to have the highest return on investment.
A couple examples might help: for utilities we’ve found use cases to protect revenue streams through fraud detection; for educational institutes we’ve enabled the development of programs to enhance student curriculum and improve teacher effectiveness and retention; and for casino & resort complexes, we’re finding ways to increase player lifetime value.
Check out this blog from Bill Schmarzo to gain some additional insights into the types of use cases we’re developing.
For your organization: to what extent do IT and the business get together and align on strategic business initiatives? And how have you incorporated big data into those strategies? Let me know, I’d like to hear back from you!