IBM Business Analytics Summit 2014 in Toronto #ibmbas
When there is great content, and a lot of it, what do you focus on? Content that’s relevant to you. Yesterday at the IBM Business Analytics Summit 2014 in Toronto, I focused on the information that was relevant to me. I would like to share some of the information that was presented at the Summit. Please read Designing Effective Visualizations, which is Part I of this post. Find the slides for the Summit, we are allowed to share them!
Notes from IBM Business Analytics Summit 2014 in Toronto
Moment of Relevance: I heard this term for the first time yesterday, but it has been around for a while. In a 2007 article in the Dallas Business Journal, Elizabeth Cook, in her article, Moments of Relevance, writes, “Think of the moment of relevance as a kick-off for the buying process: research begins, resources are identified and the potential suppliers are ultimately engaged in some form of discussion.” Each day, 2.5 Exabytes (1EB = 1,000,000,000,000,000,000) of data is created – 25 percents by organizations and 75 percent from individuals. People are overloaded with information, how can you communicate at the point of contact? How can you prepare to be there at your prospective customer's moment of relevance?
Daily Amount of Data Created: Each day, 2.5 Exabytes of data created
- 8.6TB from YouTube
- 21PB from Email
- 4TB from Twitter
- 15TB from Facebook
- 75 percent of all data created comes from individuals
- 25 percent of all data created comes from organizations
Amount of Data Generated: It now takes only two days to generate the amount of data that was generated in the entire year in 2003.
Quality of Information: The quality of the decisions you make is based on the quality of the information you use to base them on. Please read How to Analyze Information.
- One in three business leaders makes decisions on unreliable information.
- 42 percent of employees use information wrong at least once a week.
- 59 percent of managers miss information they should have used.
- 47 percent of end users don't have confidence in their information.
Information that Matters: Not all information is created equally. There is a lot of information out there, but is it relevant to your clients and customers? Before you decide to collect information, think about your needs and requirements, and collect information based on that. After you have collected information, only measure what matters, then take the next steps and execute on what matters.
There was a lot of great information delivered at the IBM Business Analytics Summit 2014 in Toronto. And there were sessions running concurrently, so attendees couldn't attend every session. View the slides for the Summit. Please let me know your thoughts in the comments section below. Liked this post? Share it and subscribe to my RSS feed and get loads more! If you’re new to the blog, visit the Start Here page for my pillar posts.
Author Bio: Avil Beckford, an expert interviewer, entrepreneur and published author is passionate about books and professional development, and that's why she founded The Invisible Mentor and the Virtual Literary World Tour to give you your ideal mentors virtually in the palm of your hands by offering book reviews and book summaries, biographies of wise people and interviews of successful people.
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