Less than a year ago, I blogged about my son starting a new phase of his life by going to college. You may recall my posts triggered by subsequent visits to his college concerning the right test environment for cloud computing as well as innovation being part of the enterprise bloodstream. And now, it’s that time of the year when college-going kids come back home for the summer and, for some of them, it’s graduation time. On my way back home with my son, I wondered why and how he's better off today than he was a year ago. This article on LinkedIn by Jeff Selingo goes so far as to question the returns from a college education. But is it the returns from the college education, or are we really talking about the return on the individual? Is this another definition for ROI — after the one on information, infrastructure, and innovation? I wonder.
What Big Data has to say matters. Therefore, the tagline for the Track Keynote session TK2789 caught my attention — "Make information matter; make Big Data work for you." I couldn't agree more. Let me add that enterprises must use data that matters to drive their competitive differentiation, thereby realizing their return on information. The abstract reads, “ … companies that succeed in turning Big Data into actionable information will have a clear competitive advantage over those that don't.”
It’s that time of the year again. United States residents are filing their annual tax reports. We compute the taxes that ought to have been paid, make additional payments or receive refunds. We apply the nation’s laws to determine the appropriate taxes for the sale, purchase and possession of assets.
As I go through this exercise myself, I am thinking about the most valuable asset in the enterprise—Information. This post on Infonomics beginning at home projects financial value being associated with data that we "own." Will this very data become a taxable asset in the future? I wonder.
At HP Discover 2013 in the DT3253 session, I would be presenting on Predicting the Future with Systems of Engagement — the manner in which we can use innovative analytical techniques to predict human behavior. We have access to brontobytes of information in this new world of Big Data. But if enterprises don't take the right action, it will remain just that — raw data with minimal realization of financial gains from information — the most valuable asset in the enterprise. Remember infonomics?
If you read the Open Letter to Enterprise IT from Big Data, it will become very clear — very quickly — that information is the most valuable asset within an enterprise. Doug Laney, VP of Research at Gartner, and the originator of this concept, would agree. That being said, enterprises must determine how and where they use this data. The return on information is best realized by using data that matters with the right resources. Eric Siegel, a former assistant professor of computer science at Columbia University and author of “The Power to Predict Who Will Click, Buy, Lie or Die” characterizes human resources as the scarcest resource in any company. I agree. How about if enterprises had a way to grade the likelihood that individual workers would leave the company?