Big Data & Creativity: Start Thinking Outside of the Box CA Edition

SOLUTION BRIEF

Big Data & Creativity: Start Thinking Outside of the Box Predictive analytics and other creative uses of big data are driving innovation in a variety of ways, including:

72%

of organizations have experienced a situation in which their analytics projects have exceeded expectations.1 – CompTIA

With so many businesses already finding success with big data, gaining a competitive advantage won’t be easy. Instead of just moving ahead on standard, well-established big data strategies, companies must seriously consider how they can use information creatively to drive the greatest possible returns.

In many cases, this takes the form of predictive analytics - using data from diverse sources to anticipate situations before they unfold and act strategically.

Developing innovative methods to put big data to use can help organizations stand out from the competition.

Getting Creative with Big Data Some organizations are already finding success when it comes to using big data creatively. Many manufacturers have begun enacting just-in-time supply and inventory management - a strategy in which data gathered from across the business allows materials to be delivered to production environments precisely when they are needed, adding a layer of efficiency and productivity to operations.

Creating Brand Awareness A creative big data strategy can give organizations new insights into customer expectations and responses to corporate decisions. From there, companies can engage customers in new ways to improve brand awareness.

A recent Business2Community report explained that creative uses of big data are transforming marketing strategies.2 This is particularly true in the way that a big data strategy can enable companies to gather unstructured forms of data, such as social media posts, to engage potential customers and take actions that set them apart in their industry.

The news source explained that Morgan’s Steakhouse found success with this strategy when they noticed that a loyal customer created a social media post about pining for a steak from Morgan’s, but missing out because he had to travel. When the restaurant noticed this, it dug into its big data platform to find that the individual was a regular who frequently ordered the same thing. They prepared the favored meal and had a waiter in a tuxedo awaiting the customer at the airport where his flight was landing.

The ability to mix-and-match both structured and unstructured forms of data so quickly gives companies a chance to seize unique opportunities that may arise among customers globally or within their communities.

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SOLUTION BRIEF Big Data & Creativity: Start Thinking Outside of the Box (continued)

Being able to respond in unique ways to varied and changing circumstances is the essence of creativity for businesses.

Making Small Improvements Many organizations have plenty of tiny inefficiencies, problems that are so small that everybody just puts their heads down and ignores them because it would take so much effort to resolve them that it doesn’t seem worth the time. Big data programs can simplify the process of identifying and resolving these issues.

A recent Forbes report explained that the United Parcel Service found a great deal of success3 with such a strategy. The organization had found that it needed to improve routing - an area where many small inefficiencies can easily disrupt activity for drivers - and turned to big data to get the job done. UPS put sensors and monitors on all of its vehicles to track everything from driver speed to gas consumption during routes.

Over time, it was able to use this information to make many small improvements to routing strategies. In 2011, the organization reduced its fuel consumption by 8.4 million gallons and cut 85 million miles off of routes.

Solving many small problems gets easier when you have access to detailed data and can put that information into action. Getting creative by focusing on the small problems facing users can play a vital role in driving value creation.

The Possibilities are Nearly Endless Every business has unique issues that impact its ability to stay ahead of competitors in the marketplace. This is why creativity plays such a role in big data strategies.

Being able to move beyond standard analytics key performance indicators, predictive maintenance scheduling, etc. - and identify new ways to impact your industry can lead to considerable value creation.

The potential that comes with getting creative with data isn’t just for the organizations mentioned already.

Hospitals are using details about their communities to identify health trends and develop preventative strategies to keep people from getting sick.

Government agencies can leverage data to get a clearer idea of what constituents believe than they’d ever get from a poll or town hall session. All told, the potential benefits of gathering data from connecting Internet of Things devices and using it to predict market and customer activities can prove invaluable in maximizing the value of analytics programs.

Developing creative ideas requires mastery of the basics. Check out Learning Tree’s courses on big data to gain the skills you need to drive big data success and get to a place where you’re ready to think outside the box.

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Sources: 1 https://www.comptia.org/about-us/newsroom/press-releases/2015/12/15/big-data-initiatives-exceeding-expectations-for-many-organizations-new-comptia-study-finds 2 http://www.business2community.com/big-data/5-innovative-diverse-uses-big-data-01428201#WgocAI7rdhpKOjTF.97 3 http://www.forbes.com/sites/rajsabhlok/2013/06/14/5-cool-ways-big-data-is-changing-lives/#484487476113

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