Tuesday, October 22, 2013

Social Business Gradually Growing

The use of social media like Facebook, Twitter, LinkedIn and Blogs for business purposes, generally labelled Social Business is achieving growing attention in the business community, but most businesses report that they are really at a very preliminary stage in developing it. This according to a study released by Deloitte and MIT Sloan Management Review. Barriers have been lack of a proven business model, lack of a strategy and other priorities.

Nevertheless, this is destined to change quickly. Social media is a very powerful tool, not only for communicating with stakeholders, but also for interacting with customers and others. In addition, and this is a big factor, social media is a critical source of big data, a phenomenon that is in process of revolutionizing the business landscape. Use of bog data for customer relationship management and strategic analytics is rapidly becoming a competitive necessity.

See the Deloitte/MIT study here.

Tuesday, October 15, 2013

Thursday, October 10, 2013

Big Data governance Gains in Urgency

Big data is being collected in growing volumes, and becoming more important to a variety of corporate strategic initiatives. But yet, companies are encountering difficulties in making use of the data because it is coming in on different platforms and in different forms. The old classic problem written large.

New forms of data standardization are needed to make them available and consumable across divergent platforms. We've seen progress in the financial world with XBRL, and in various other arenas with XML, but more needs to be done. Here's a take on the issue.