EDITOR ’ S QUESTION
IT needs to align with the business to deliver value and solve the problems that matter to them . There are quick-win applications for Big Data you can start with – things like invoice processing , contract compliance and procurement processes . You can then move on to some of the exciting projects like geospatial mapping to inform decision-making . Enterprise IT should identify a mixture of quick-wins and longer-term Big Data applications , prioritising based on the needs of the business .
In the Middle East for example , Big Data is incredibly important for powering the ambitious Vision 2030 goals in the Kingdom of Saudi Arabia . Data is the fuel of the digital economy and accelerating data maturity is a key enabler for transformation . Big Data can be used to unlock efficiencies , automate existing processes and help both the public and private sector to drive better decisions . Big Data can improve operations in two main ways : helping your organisation to run its core business more efficiently and powering innovation through data-driven insights to create competitive advantage .
Given that Big Data is pervasive in every aspect of peoples ’ lives – from consumer experiences such as being recommended what movie to watch based on your viewing preferences or using a smart-watch to monitor your health – to an oil and gas company using Digital Twins to run real time simulation , the full spectrum of our citizen experience is impacted by Big Data .
That ’ s why efficiency through automation of lowvalue processes and functions is the starting point . But there is also innovation finding ways of doing things or even creating new opportunities to collaborate because your data is valuable to others in the ecosystem . Mature organisations are leveraging their IP to create business value . And while cloud has become far more prevalent and the ability to be able to process data at speed has been facilitated by it , in Saudi Arabia for example , data sovereignty rules mean that the journey to cloud is
Big Data can improve operations in two main ways : helping your organisation to run its core business more efficiently and powering innovation through data-driven insights to create competitive advantage .
taking a little longer than in some other nations , but as the regulatory environment develops , we see a huge amount of value coming from cloud in the coming years .
That said , common challenges include data governance , data quality , streamlining data processes , creating data stewardship and embedding data ownership in the organisation . Organisations may not be used to treating data as an asset , which is a significant mindset shift .
With all these dynamics at play , the future is bright for Big Data . The important thing now is building the foundations that should include having a clear data strategy in place , establishing a data office and implementing good data governance . These fundamentals are key to managing your data and leveraging it to improve your core business , but also for driving innovation . It ’ s crucial to be clear on what you value from investment , what the timeframe for pay-back is and what the framework for investment management is . The ability to dynamically re-allocate resources at the point of need is critical for a business to make strategic pivots , so you absolutely cannot fall into the ‘ sunk cost ’ fallacy and allow a big , failing project to continue . Similarly , you must give projects time to realise their full benefits and managing that balance is key . p
MAZHAR HUSSAIN , DIGITAL LIGHTHOUSE LEADER , KPMG
SAUDI ARABIA
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