The Digital Transformation Playbook from BMC & PSFK Labs describes how sophisticated analytic tools are playing a role in making sense of internal processes and growth
Information is a competitive advantage in today’s marketplace, but only if companies can make sense of it. Naturally, as a business grows, internal operations and logistics are bound to become increasingly complex, especially with all of the information being dispersed by separate teams and lines of business. With access to more data about their internal operations, their customers, and their competition than ever before, companies are thinking about new tools and processes that can make sense of this information superhighway.
To help executives understand the bigger picture framing their organizations, companies are performing operational audits to help identify internal trends and shifts. From BuzzFeed to UPS, companies are leveraging sophisticated analytics tools to better understand data and anticipate resource requirements and opportunities for growth.
“Leading organizations are changing how they measure their operations, interactions with customers, and resource allocations. Faster access to more relevant data and constant experimentation is creating a further gap between leaders and the rest of the organizations,” explained Dan Vesset, Group Vice President at IDC.
In the case of BuzzFeed, the media company utilizes Hive, a data collection system, to track the performance of its content and build out an effective editorial strategy across its various platforms and audiences. Since each BuzzFeed story recycles on different channels—the same article may manifest as a website feature, a Facebook video post and a Snapchat clip—Hive assigns each content file a unique ID. This tracking system monitors how each post performs on its respective platform and identifies when it crosses to another site.
Beyond media, insurance company Guardian Life modernizes its big data mainframe infrastructure to improve its digital services. Guardian partnered with Cognizant BIGFrame to incorporate the latest in cloud technologies that would help them develop new products and services, including a “data lake” that acts as a massive storage repository and powerful processing engine that can handle a large volume of jobs at a lower cost than a mainframe. Since incorporating the technology, Guardian Life has been able to boost self-service analysis, improve decision-making, and create products more efficiently.
According to an Accenture Study, Big Success From Big Data, 92 percent of executives are satisfied with the results and 89 percent rate big data as “very” or “extremely” important.
For companies to make sense of the big data trove and use it as a competitive advantage, a new suite of systems that helps them unlock hidden knowledge for more informed decisions is required. We’ll continue to see companies access these systems to create a broader context for understanding the health of an organization and improve performance for teams and initiatives.
The Digital Transformation Playbook is a report and 5-week series from BMC and PSFK Labs that identifies the opportunities and challenges that traditional companies face when transitioning into a digital enterprise. The comprehensive study provides a roadmap to help high level decision-makers determine where to begin, what to do and how to follow through. Download the full report here and check back daily for exclusive content on the strategies, technologies and services that are helping businesses keep up with ever-evolving demands of the marketplace.
To move beyond novelty activations and one-time gimmicks, PSFK equips marketers with the insights, templates and analytics to develop high-reach campaigns that meet consumers in the moment, collect and build upon experiential data, and build scale through content creation.