WH Y P ROJ E C T S FA I L
organizations are already realizing the
value of big data analytics today. Insightdriven, information-centric initiatives will
be deployed where the ability to capitalize on the six Vs of information will create new opportunities for organizations
to exploit. By combining and integrating
deep analytics, local rules, scoring, optimization techniques and machine learning with cognitive science into business
processes and systems, decision management helps deliver decisions that are
consistently optimized and aligned with
the organization’s desired outcomes.
Social analytics will ensure businesses know how, when and where to
creatively engage with individual consumers and social communities to foster trusted, one-to-one relationships and
better understand and manage the way
their companies are perceived. Integrating demographic and transactional data
with what can be learned about attitudes
and opinions allows organizations to
truly understand the motivations and intents of its constituents to better serve
them at the right time and place.
Deep analytics will help organizations uncover previously hidden patterns,
identify classifications, associations and
segmentations, and make highly accurate predictions from structured and unstructured information. Organizations will
use real-time analysis of current activity
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to anticipate what will happen and identify drivers of various business outcomes
so they can address the issues and challenges before they occur. Many decisions
will be done automatically by computers
that also have deep-learning capabilities.
When you are in a process of starting
a big data journey, consider this question: What should our big data with deep
analytics roadmap look like to achieve
our objectives?
Haluk Demirkan ([email protected]) is a professor
of Service Innovation and Business Analytics, and
the founder and executive director of Center for
Information Based Management at the Milgard
School of Business, University of WashingtonTacoma. He has a Ph.D. in information systems
and operations management from the University of
Florida. He is a longtime member of INFORMS.
Bulent Dal ([email protected]) is a co-founder
and general manager of Obase Analytical Solutions
(http://www.obase.com/index.php/en/obase),
Istanbul, Turkey. His expertise is in scientific retail
analytical solutions. He has a Ph.D. in computer
sciences engineering from Istanbul University.
Acknowledgement
Part of this article is excerpted with permission
of the publisher, HBR Turkey, from Demirkan,
H. and Dal, B., “Big Data, Big Opportunities, Big
Decisions,” Harvard Business Review Turkish
Edition (published in Turkish), March 2014.
REFERENCES
1. Gartner, Inc., 2013, “Gartner Predicts Business
Intelligence and Analytics Will Remain Top Focus
for CIOs Through 2017,” Dec. 16, 2013, http://www.
gartner.com/newsroom/id/2637615.
2. Demirkan, H. and Dal, B., “Big Data, Big
Opportunities, Big Decisions,” Harvard Business
Review Turkish Edition (published in Turkish),
March 2014, pp. 28-30.
3. Davenport, T., 2013, “Analytics, 3.0,” Harvard
Business Review, December.
W W W. I N F O R M S . O R G