Big & Fast Data: The Rise Of Insight-Driven Business
Big & Fast Data:The Rise of Insight-Driven BusinessInsights at the Point of Action will Redefine Competitiveness
2Big & Fast Data: The Rise of Insight-Driven Business
Insights & Data the way we see itTable of ContentsForewordsJohn Brahim, Capgemini CEO Insights & DataPaul Maritz, Pivotal Chief Executive Officer, EMC Federation334Big data is increasingly about business disruption6Four ways in which data-driven insights are changing businesses81) Using insights to drive efficiency and cost focus2) Using insights to drive growth of existing business streams3) Using insights to drive growth through market disruptionfrom new revenue streams4) Monetization of data itself, with the creation ofnew lines of businessWhere organizations are todayRecognizing the value of dataThe struggle to make data deliver valueTraditional IT infrastructure and processes are too slowRecognizing business transformation is as important astechnology implementationSetting the strategic direction but delivering incrementallyWhere organizations are goingA clear business objectivePeopleTechnologyPlatformOrganization, collaboration, governance and leadership891011121213131515161616171717Guiding principles for realizing big data value andbecoming an insight-led organization18Conclusion20Big data versus fast data – size isn’t everything21About the study233
ForewordsJohn BrahimCapgemini CEO Insights & DataIn our 2012 study with the Economist Intelligence Unit, TheDeciding Factor: Big Data & Decision Making, we establishedthat a rising tide of big data was being experienced acrossindustry sectors. Since then, we have seen the dramaticimpact of big data and analytics in our own client base, andwe wanted to really understand whether this was reflected inthe market at large, across regions and industry sectors. Wealso wanted to understand the impact on businesses, andhow they were shaping up to address the challenges andopportunities that this change has presented.In this new study, one of the surprising things we found wasthe level of disruption that new data sets are having, and howwidespread this is. We are all familiar with the way SiliconValley’s data-centric businesses, such as Uber and Airbnbhave used data to disrupt traditional markets. However, whatwe also found was that the impact of data-clever startups, and of competitors moving across from other industrysectors, is having an impact on virtually all types of business.Around 64% of executives said that they believe big datais changing traditional boundaries, and 24% were alreadyexperiencing ingress of competitors from adjacent sectors.One encouraging finding was that organizations were takingsteps to address this issue not only from the technologypoint-of-view but also through organizational change, with athird having already appointed a C-level executive.The key finding, though, is the level of opportunity thatpeople are seeing from harnessing this data, and the wayreal business insights are changing market dynamics today.However, this opportunity is a double-edged sword: There is aserious threat to the survival of organizations that do not act.Our findings have helped us inform the strategic direction ofCapgemini and we will expand our investment and focus oninnovative “Insights & Data” propositions that help our clientsaccelerate their journey towards becoming modernized,digital, insight-driven businesses.I would like to thank the team within Capgemini and ourpartner EMC, along with all the survey respondents andinterviewees. I believe this research will provide a valuablesignpost for clients seeking to create the right data landscapeto generate insights that can shape their business.4Big & Fast Data: The Rise of Insight-Driven Business
Insights & Data the way we see itPaul MaritzPivotal Chief Executive Officer, EMC FederationBusinesses have been realizing that big data is more thana “nice to have”. It is critical to surviving and prospering inan increasingly digital world. As the findings of this studyreflect, big data can be utilized to drive productivity, enhanceexisting revenue, and even create entire new lines ofbusiness, based on new business models.If you can obtain all the relevant data, analyze it quickly,surface actionable insights, and drive them back intooperational systems, then you can affect events as they’restill unfolding. The ability to catch people or things “inthe act”, and affect the outcome, can be extraordinarilyimportant, valuable and disruptive. That’s what the pioneersin big data are aiming for: Stop the fraudulent credit cardtransactions in process, anticipate failure and shut down amachine before it gets damaged, reroute network or powergrid traffic on the fly to avoid failed nodes and traffic jams,guide the choices of shoppers through timely and contextualinformation, etc. All of these sample use cases, and more,can unlock tremendous business value.Disruption is a constant theme of the study findings – onethat is a key agenda item from conversations with clients.Already we are seeing businesses using big data to disruptmarkets, and even threaten others outside their traditionaldomain. To use big data in these ways, the businesses neednot just to augment existing information landscapes butalso to review them fundamentally and build new platformcapabilities. The future is a platform-based, algorithmicand data-driven one delivered via a compelling end-userexperience.To achieve this, business leaders need to have an agreedcorporate strategy, backed by an IT vision that can adaptand respond to big data’s opportunities. Agility is aprerequisite. This requires a common underlying platformand the culture and expertise to use it – which will allowprojects the flexibility to be initiated and directed as thepotential for disruption appears. It’s the ability to implementand scale rapidly across the business – in weeks ormonths – that can create clear water between you and thecompetition.We believe these changes are profound. There is adeepening realization that change is not only possible butalso essential.5
Big data is increasingly aboutbusiness disruptionWe live in a fast-moving, complex worldof increasingly connected people andconnected things that are creatingvast new digital footprints. To thrive,organizations need to make sense of thisbig and fast-moving data, to gain real-timeaccess to powerful insights and deliverthem to the point of action.It is no coincidence that new big data technologies and datascience approaches have emerged at the same time as thisneed has made itself felt. As a result, organizations can nowobtain the insights they need, and use them to drive new levelsof performance. This gives them the ability to shape theirmarkets and enter new ones.Increasingly, this is a matter not just of success but alsoof survival – the survival of your organization and of youyourself as a senior stakeholder in that organization. We arealready seeing leading businesses using big data to disruptmarkets and threaten their competitors’ traditional valuepropositions. In our study, a surprising 64% of respondentssaid that big data is changing traditional business boundariesand enabling non-traditional providers to move into theirindustry. Companies report a significant level of disruptionfrom new competitors moving into their industry from adjacentindustries (27%), and over half (53%) expect to face increasedcompetition from start-ups enabled by data.These findings reflect the fact that we are now at an inflexionpoint, where big data has created entire new ways of gettinginsight from data at a technology level. Organizations arefinding their industries challenged by new data-empoweredentrants. To win the battle for survival, you in turn need torethink your own organization structures and processes inorder to harness insights. You may need to fundamentallyreconsider your market value proposition in light of these newplayers. And this has to happen alongside any initiatives thatyou may already have in hand to improve existing functions.6Big & Fast Data: The Rise of Insight-Driven Business27% face competition from newplayers in adjacent industries
Insights & Data the way we see it1 (Pg 1, 1st graph)FIGURE 1: BIG DATA IS CHANGINGBIG DATA IS DARIESANDBOUNDARIES AND ENABLING ROVIDERS TO MOVE INTO OUR INDUSTRYMOVEINTO OUR INDUSTRY64%AGREESTRONGLYSLIGHTLY22%22%42%NEITHER AGREENOR DISAGREE2%7%Big data has become something thatcan deliver a competitive advantageto any company. Failure to harness itor take advantage of its usefulness willresult in a company lagging behindits competitors and risking becomingirrelevant in its industry.”Canada, Financial Services9%2 (Pg 1, 2nd graph)“We have data ponds out therewhich need to be pulled together togain the full benefits from big ��T KNOWWE ARE FACING INCREASED COMPETITIONFIGUREDATA2: WE ENABLEDARE FACINGSTART-UPSINCREASEDFROMUnited Kingdom, EngineeringCOMPETITION FROM DATA ENABLED START-UPS25%NEITHER AGREENOR GREESTRONGLY5%SLIGHTLYDON’T KNOW7
Four ways in which data-driven insightsare changing businesses3 (Pg 5)Companies realize that they need theseinsights from big data and the use ofdata science, and are willing to spendto achieve them. Over half (56%) of ourrespondents believe their investment inbig data over the next three years willoutstrip past investment in informationmanagement: a finding borne out by ourcurrent client engagements.FIGURE 3: FUTURE INVESTMENT INFUTURE INVESTMENT IN BIG DATA IN NEXT 3 YEARSBIG DATA IN NEXT 3 sed on our experience with clients going through thistransition, Capgemini sees four distinct opportunity modelsemerging to address different needs:1. Efficiency and cost focus2. Growth of existing business streams3. Growth through market disruption from newrevenue streams4. Monetization of data itself, with the creation of newlines of business.The common theme of all of these models is the creation andapplication of insights based on massive, often disparate datasets. While models 1 and 2 are often the immediate focusfor many organizations, addressing common themes of costsaving and revenue generation, we believe that the bolderinitiatives represented by models 3 and 4 will characterizethe winners.Let’s now look at each model in more detail.1) Using insights to driveefficiency and cost focusIn our study, 65% of respondents see big data as a keyenabler of their organization’s effectiveness/competitiveness.This could mean a variety of things but in practice, we findmany organizations see big data’s ability to help them identifyopportunities for cost saving as a primary driver for adoption.8Big & Fast Data: The Rise of Insight-Driven Business30%3%3%1%NOTANSWERED7%DON’T KNOW6%LOWERSIGNIFICANTLYSLIGHTLYInnovation as a means of cost cuttingis very important. Data can allowus greater efficiency in working outhow and where to cut costs and alsostreamline marketing so as to notwaste money. We can also save manhours in customer services by using bigdata to identify relevant data points.”Sweden, Telco
Insights & Data the way we see itThe quest for cost reduction can take one or both of thefollowing forms: Use of insights from big data to help identify potentialoperational efficiencies in the business and so reducecosts. For example, organizations may want to analyzesupply chain, cost to serve, customer churn rates, and soon. We are also seeing many clients use big data analyticsto reduce risk, better detect fraud, and ensure compliance.These can be big-ticket items in cost containment. IT cost reduction through modernization of the informationlandscape, with big data technology adoption. Manyof the new big data technologies are open-source anduse commodity hardware, a combination that is often20-30 times cheaper per terabyte than traditional datawarehousing technology.2) Using insights to drive growthof existing business streamsWhile cost reduction approaches could “keep you inthe game”, they don’t bring the differentiation that mostcompanies need to thrive in highly competitive markets. Ourstudy suggests that a significant proportion of organizationsknow that they need to do more. Around 61% of respondentsstate that big data is becoming a driver of current revenuesin its own right. Insights from big data are being used toenhance existing market offers through better understandingof customers and consumers and of the effectiveness ofmarketing and sales activities. For many industries, thismeans developing a much more granular understanding oftheir customers by aggregating and analyzing all the relevantdata per customer (from inside and outside the company,including social media) to achieve an accurate 360-degreecustomer view. Using the power of deep customer analyticsand behavioral modeling, organizations can then create bothinnovative and relevant service offerings that customersactually want, all delivered through an integrated andseamless digital customer experience.1As the insurance industry is verycompetitive and heavily regulated,big data will help to prevent bad datainfluencing decisions and reduce missales. [It] will also allow greater abilityto tailor products to market nicheswhich will lead to greater differentiationbetween competitors.”UK, Financial Services“[Big data] is very important becausein our business the more informationwe have about the market and thecustomer the easier it is to createaction plans, innovate and continuouslygrow. And this will result in revenuegrowth, profits and other factors forfuture investment.”Brazil, Financial Services“In the automotive industry, consumerswant more and more input intoproducts. Being able to customizebespoke products is increasinglyimportant to the consumer. Bigdata is vital if we are to be able tocustomize services and products forour customers. It’s important so thatwe can efficiently and quickly see whattheir needs are and how the productscan best evolve.”Germany, Engineering1 Capgemini, It’s All About Them: Your Customers’ All-Channel e9
3) Using insights to drive growththrough market disruption fromnew revenue streamsOne of the major findings of this survey was the levelof disruption across industry boundaries, with 64% ofrespondents saying big data is changing traditionalbusiness boundaries. We are seeing consumer productscompanies becoming retailers through their increasingknowledge of their consumers, telcos using the data theyhave about their customers to develop new revenue streamssuch as geo-located marketing services, and utilities usingsmart meter data to provide household equipment monitoringand servicing offers. In fact, there are few sectors untouchedby this trend. The survey showed that this disruption, whilestronger in B2C businesses, was present in all (with levelsvarying from 53%-74% depending on industry sectors).In our practice, we often observe that it’s the companiesexperiencing the highest level of disruption which see thegreatest opportunity to drive new revenue streamsfrom big data.We are already in the Internet-ofThings space. We already have revenuestreams from monitoring products thatwe ship and we are trying to use bigdata analytics tools and solutions tosee how we can create additional dataservicing revenue streams. This partof the business can grow from 3m to 8-10m per annum within 12 monthsif we can get the analytics functioningproperly.”United States, Engineering“There are pressures on prices andbusiness (and getting more business)and big data is one of the ways to seehow you can expand the business andget tighter prices. It is not just costcutting; it is about getting into otherareas of business that you didn’t thinkyou could.”United States, Financial Services10Big & Fast Data: The Rise of Insight-Driven Business
Insights & Data the way we see it4) Monetization of data itself, with thecreation of new lines of businessIn some industries, it is already apparent that the dataorganizations hold is becoming their major product. Asimple example is provided by mapping companies, suchas Ordnance Survey in the UK or Lantmäteriet in Sweden,where the selling of physical maps is fast being outstripped bydigital services. Many financial services companies, too, havespecific “information services divisions” whose prime aim is tomonetize data. The transport sector is looking to monetize thedata it has about its passengers through deals with retailers atstation locations.Analysis of the vast collections of GISdata we have or have access to is notmerely generating new exploration, ithas become a saleble service in its ownright.”Australia, Oil & GasAmong our respondents, 63% consider that the monetizationof data could eventually become as valuable to theirorganizations as their existing products and services. Whilethis belief varied across sector (from 55% in healthcare to 83%in telco), interestingly all sectors saw this as relevant.Working with the modelsYou don’t have to choose between the four models describedabove, or progress from one to the next: The four models donot constitute a maturity model. We expect most companiesto create a mix of models that suits their industry, ambitionsand current maturity.As shown by our work with MIT, summarized in thebook Leading Digital2, the key success factor is tohave a clear strategy, driven from the center, to ensureyou work towards the returns you’re looking for.2 George Westerman, Didier Bonnet and Andrew McAfee, Leading Digital:Turning Technology into Digital Transformation, Harvard Business ReviewPress, 201411
Where organizations are today4 (Pg 9)How far have companies got with theirIF WE DO NOT EMBRACE BIG DATA WE RISKFIGURE 4: IF WE DO NOT EMBRACE BIG DATA WEIRRELEVANT / UNCOMPETITIVEinitiatives to gain and use insights fromBECOMINGRISK BECOMING IRRELEVANT / UNCOMPETITIVEbig data? Few companies have anyquestions left about the “if”, or even aboutthe “when”: Everybody has realized it65is time to move. The survey shows thatabout 50% of organizations have alreadyimplemented big data technology or are28%in the process of doing so, with a further21% planning to begin implementationwithin the next 12 months.%Recognizing the value of dataThere really is no alternative: About 65% of respondentsagree that they risk becoming irrelevant and/or uncompetitiveif they do not embrace big data. In fact, well over half (59%)say that the data their organizations hold is becoming a corecomponent of their market value. This implies that, for some,data is already becoming as important as their traditionalproducts and services.Most organizations recognize that adoption of big data is anintegral part of the digital transformation agenda. To becomea digital enterprise, organizations must harness the datawithin and around their business. Digital customer experienceis all about understanding the customer, and that meansharnessing all sources – not just analyzing all contacts withthe organization, but also linking to external sources such associal media and commercially available data. For the digitalsupply chain, it is about collecting, analyzing and interpretingthe data from the myriad connected devices.12Big & Fast Data: The Rise of Insight-Driven RAGREE NORDISAGREEAGREESTRONGLYSLIGHTLYDON’T KNOW
Insights & Data the way we see itThe struggle to make data deliver valueBig data as part of digitaltransformationCapgemini has carried out a joint research programwith the MIT Center for Digital Business to look atdigital transformation in its broadest context. Theresearch has reached out to over 1,500 businessesto understand the impact of digital technologiesand how organization
The Rise of Insight-Driven Business Insights at the Point of Action will Redefine Competitiveness. 2 Big Fast ata The ise of nsight-Driven Business. . United Kingdom, Engineering Big & Fast Data: The Rise of Insight-Driven Business 7 Insights & Data the way we see it. FUTURE INVESTMENT IN BIG DATA IN NEXT 3 YEARS 30% SIMILAR 7% DON’T KNOW 1%
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