Drowning in data (and using Business Intelligence to float)

According to a 2018 study by the International Data Corporation (IDC), the Global Datasphere (simply put, the summation of all the different types of data) will grow from 33 Zettabytes (ZB) in 2018 to 175 ZB by 2025. Of this, consumers’ share of data generated is dropping from 47% in 2017 to 36% by 2025 (see image), while the enterprise continues to see its share of Datasphere stewardship grow. The same study in 2012 found that only 0.5% of the world's data was actually being analyzed. If you put all of that together and used simpler terms, you'll find that your company is probably drowning in unused data right now.

But that's not a bad thing! Having tons of data can put you ahead of the curve if you used it right. And that's where having a Business Intelligence strategy comes in. A very serious and professional source ("Business Intelligence for Dummies", by Swain Scheps), defines the term in the following way.

Business intelligence is essentially timely, accurate, high‐value, and actionable business insights, and the work processes and technologies used to obtain them.

The book goes on to simplify its definition, calling BI a way to use data about yesterday and today to make better decisions about tomorrow. Whether it's selecting the right criteria to judge success, locating and transforming the appropriate data to draw conclusions, or arranging information in a manner that best shines a light on the way forward, business intelligence makes companies smarter. It allows managers to see things more clearly, and permits them a glimpse of how things will likely be in the future.

During my first rotation as an E.L.I.T.E. general management trainee at Capgemini, I attempted to create a "Tech Counsellor" team which would use the beauty of BI to help clients. The team, a bunch of people trained both in technology and business skills, would proactively create a data story for the client which would help the client identify key issues and opportunities. In the process, the team also creates more opportunities for themselves, making it a win-win for everyone!

Basically, if you were drowning in data and thinking of using BI to float, a Tech Counsellor's job is to tow you on their motorboat in a fun water-skiing adventure.