It is well known that today organizations and platforms are generating enormous amounts of data. In fact, analytics, artificial intelligence, internet-of-things and big data are now among the most talked of aspects. However, utilization of such data depends more on the firm’s management rather than technology. Thus some methods have been separated out which must be the primary aim of such operations. First of all, this enormous data must be used for better decision making. Innovative products, processes and services need to be developed. Data must get imbibed into every aspect as information needs to get extracted from different products, processes and services. This business intelligence garnered must be used to disseminate relevant content to concerned stakeholders. There must also be a method where one can be directed towards the right content as Google and Quora are already doing. The overall quality must be improved, costs eliminated altogether and a sense of trust developed. Asymmetries get built in when one party has more information than another. Such asymmetries need be leveraged as a business proposition as done by several hedge funds, car dealers, sports venues and airlines.

Source:https://hbr.org/2017/06/does-your-company-know-what-to-do-with-all-its-data?referral=00563&cm_mmc=email-_-newsletter-_-daily_alert-_-alert_date&utm_source=newsletter_daily_alert&utm_medium=email&utm_campaign=alert_date&spMailingID=17463422&spUserID=OTY0OTMwNTk5NwS2&spJobID=1041158494&spReportId=MTA0MTE1ODQ5NAS2

Uploaded Date:01/07/2017