Essay on How Technology Has Enabled Organizations

1486 Words Jul 23rd, 2015 6 Pages
INTRODUCTION
There is perhaps no business term more overused than “Big Data” (). Emergent technology has enabled organizations to effectively tap into vast pools of information to create an immediate flow of actionable intelligence. Data is no longer a historical artifact that is used to understand the story, real-time analytics enable organizations to observe and alter the story as it is being written. This is true across all industries: in transportation UPS leverages sensors on its fleet to dynamically alter delivery routes in order to save over 1.5 million gallons of fuel annually, in retail Macy’s is able to dynamically change prices on 73 million items based on parameters such as demand and inventory, and in finance American Express is utilizing over 115 different factors to evaluate and manage customer churn.

Unfortunately, there is no turn-key analytics solution that can help organizations leverage the data at their disposal overnight, rather organizations must be groomed from the ground up. Traditional organizational structures are challenged by the emergence of big data and must rise to meet the challenges. There are three sides to mastering date. Firstly, they must adapt to gather data from various sources: social, unstructured, and structured. Secondly, they must thrive at sorting and making sense of this data in a timely manner. Lastly, the most powerful data in the world is useless without a mechanism to act upon it; organizations must be setup to incorporate…

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