Big data was a major tech topic this year and poised to be an even bigger on in 2016.
What are the big, critical business benefits that big data analytics will deliver in 2016?
Lewis Carr, Senior Director of Transformation Solutions Marketing for Hewlett Packard Enterprise, has laid out four predictions.
1. Optimization of labour.
“Intuition without hard data to back it up seldom leads to an ideal choice. Optimization happens when data drives a decision and supplements it—at key moments—with human intuition.
For example, nearly 16 million people drive vehicles commercially in the United States (taxis, buses, commercial trucking, and so on). In the past, they relied primarily on intuition and prior experience to guide their decisions about which route to take. When given telematics and route optimization data, people can vastly improve their driving e iciency and use their intuition to problem solve when necessary. These types of process hybrids allow both machines and humans to be their best “selves” and bring optimal value to business processes and customer experiences.”
2. Choice in a multichannel world.
“Channel diversification is great for user choice, but it creates a challenge for businesses, which haven’t had the technology support to make every channel equal in experience. Big data analytics can help organizations become channel agnostic.
“When you’re able to analyze big data quickly and accurately, every channel can draw on the same data sources and policies, giving assurance that all channels work equally well. Moreover, big data analytics can support frictionless cross-channel processes, meaning employees and customers can always choose the channel that is most convenient at any given time.”
3. Orchestration of processes and policy management.
“When processes and policies are implemented through technology, breakdowns in process-policy alignment become evident through business outcomes. Odd as it may seem, this is a good thing because when a process results in an unexpected outcome, it creates an exception, which tells us exactly where process or policy improvements need to be made.
“Big data analytics provides the means to track and analyze these interdependencies, thus avoiding the problems they can cause. In addition to helping more e ectively manage change, big data analytics will help reduce the overall cost of business process operations. For instance, big data analytics can help organizations reduce exceptions that cause costly escalations by identifying situations that fall outside of automated process handling.”
4. Automated personalization.
“In 2016, companies will begin pushing the leading edge further in terms of allowing machines to simulate squishy data. Big data analytics makes this possible by assimilating vast amounts of information, including the types of data that were too slow and expensive to collect and analyze in the past, such as communications and case records for knowledge workers. As the machines get better at interpreting a variety of data types (so-called “unstructured” data) and collating it with vast quantities of structured data, they can begin to improve and accelerate both employee-owned business processes and customer-facing experiences.
“Machines will begin to replicate human decision making, which human operators can oversee and deliver. But simulation enabled by big data analytics requires better instrumentation and linkage between all machines and humans.”