Data is power. The quantity and rapid growth of business data represents a real opportunity. More information about your customers, your market, and your suppliers is one of the few proprietary assets available to you.
From Wikileaks to Facebook, the new influencers are those who understand the power of data in all its forms. Nowhere is this more apparent than on the web. It is difficult to think of a successful web company whose asset is anything other than data; YouTube, Facebook or Google. However, creating business value from data is not just the realm of the web media giants. All businesses generate increasing quantities of data on a daily basis. The quantity and rapid growth of our business data represents a real opportunity.
Think of it this way. Many of the previous bases for competition are no longer available. Unique geographical advantage doesn’t matter in global competition, and protective regulation is largely gone. Proprietary technologies are rapidly copied, and break-through innovation in products or services seems increasingly difficult to achieve. What’s left as a basis for competition is to execute your business with maximum efficiency and effectiveness, and to make the smartest business decisions possible. Creating an Information Advantage is one of the few defensible advantages over time.
If you are concerned that you could be getting more value from your business data, contact Delphi Analytics. We will help you develop your Information Advantage.
Read More: Thomas H. Davenport, Competing on Analytics: The New Science of Winning (Boston, 2007)
