4 Ms of Big Data: Big Data Powers Business Transformation

This is Part 2 of a 5-Part series. Be sure to check back here soon on InFocus for the next installment.

The second part of the “4 Ms” of Big Data (“Make Me More Money”) infographic series focuses on how Big Data can power business transformation and drive an organization’s business strategy. As I like to say: organizations don’t need a Big Data strategy; they need a business strategy that incorporates Big Data.

Big Data provides the opportunity to power your business strategy in any ways, giving you the ability to:

• Increase revenues by leveraging Big Data to take your sales and marketing to the next level:  acquire more customers and retain current customers, cross-sell and up-sell, boost store traffic, increase conversion rates, and improve ad effectiveness
• Reduce costs by bringing new efficiency and improving performance to all areas of your operations: optimize network performance, predict utilization/capacity, reduce out-of-stock occurrences, and consolidate suppliers
• Lower risk by deploying Big Data to rationalize products, evaluate and close unprofitable channels, increase inventory turns and asset utilization, reduce DSO, SG&A, and T&E—all while reducing fraud and waste

The infographic provides some interesting factoids on how organizations are investing in Big Data in order to:

• Make better decisions faster
• Accelerate and improve analytics
• Drive business differentiation

*Click on any of the thumbnails below to explore more*

Click here for Part I of the series

Check back soon for Part III of the series

Check back soon Part IV of the series

Check back soon for Part V of the series