The overwhelming availability of fast data, the datafication of humanity, is igniting a new era of innovation and reshaping industries. Volumes of data are pouring into enterprises, drowning them in the details about their customers, their products, and their networks.
Market disrupters have figured out how to harness this inflow of data to create business value, the minute (or more precisely, the millisecond) it enters the enterprise. These disrupters derive their competitive advantage by using this data to gain real-time customer insights and to create completely new and innovative products and services.
We can all learn from these disrupters. We, at Volt Active Data, certainly do. Many of them are our customers.
What I know from our interactions with them is this – if you don’t have a fast data strategy or you are not sure how your strategy compares, you are putting the future of your business at risk.
Think about the research from John M. Olin School of Business at Washington University: Within 10 years, 40% of the Fortune 500 will no longer exist due to their slow adoption of [fast data]1.
How do you make sure this doesn’t happen to your organization?
You can start by putting in place a four-step model to gain real value from your fast data and maintain your competitive advantage:
- Implement hyper-personalization (aka micro-personalization)
- Improve ROI of resource management
- Enforce policies in real-time
- Embrace IoT and sensor data
Not everyone can attack all four at the same time, but failing to move quickly on the ones most relevant to your business will result in you being left behind in the very near future.
We are kicking-off a three-part Executive Webinar Series to help you make sense of these growing market challenges. On the first webinar, on March 9th, you will hear more about this model for formulating (or improving) your fast data strategy, how to maintain competitive advantage, and how to avoid risks along the way.
Joining us on the webinar is our customer, Emagine International. Emagine is a cool business: using intelligent event detection, they enable mobile operators to hyper-personalize offers in less than the blink of an eye (or 250 milliseconds). And, it is a good business: they process an amazing 250K transactions a second and billions of events per day.
Emagine’s founder and CEO and technology innovator, David Peters, will share lessons learned from executing a fast data strategy that allowed Emagine to destroy competitors and open new markets. Don’t miss it. You can sign up here: Fast Data for Competitive Advantage: 4 Steps to Expand your Window of Opportunity.