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De-mystifying the Big Data Business Model Maturity Index – (via InFocus Blog | Dell EMC Services)

Big Data, ai, deep learning, machine learning, analytics, business modeling, data modeling, data science data scientists, W3C,

Bill Schmarzo illustrates each stage of the big data maturity journey, with the new Big Data Business Model Maturity Index (BDBMMI) infographic

Source: InFocus Blog | Dell EMC Services

Review

This is such a helpful article as it goes through all the stages of Big Data maturity in your business.  There are five stages that companies go through to reach maturity.

5 Stages to Maturity

  1. Business Monitoring – Most companies get stuck here.  Implementation of Business Intelligence optimization is a constant and they think that is enough.  In order to move to Big Data there are steps considered, the biggest being the use of data analytics like data mining, machine learning, AI, and blockchain.
  2. Business Insights – Predictive analytics sorts out all the information being gathered through transaction/operation data,  internal unstructured data like emails and customer comments.  Also gathered is publicly gathered data like social media, tax records and home values for data that might be beneficial for your company.
  3. Business Optimization – As for prescriptive analytics it helps to make recommendations for the business and for customers.  This helps to improve business performance and aims the company in the right direction.
  4. Insight Monetization – This is where your company will leverage insights gathered from all the data gathered.
  5. Business Metamorphosis – Your company will change here to adapt to all the new insights gathered.  In turn it makes your company a lot more mobile and flexible to change, therefore giving it much more of a competitive advantage.

Summary

Through using data science your company can become much more flexible to change, and can help it grow.  The company has to optimize key business processes, improve customer experiences, and create new revenue opportunities for the sake of taking advantage.  Just make sure that the systems that you have in place can handle so much data, as it can become a problem if it isn’t.

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