The importance of “Big Data” to modern enterprises has drawn extensive coverage. Business leaders, technology analysts, the press, and the investment community have discussed how data is transforming business, work and society. Data has been heralded as nothing less than “the new raw material of business: an economic input almost on par with capital and labor.”1
Amid the discussion of how data, business intelligence, and analytics are reshaping business, the concrete benefits of data and analytics have been disputed. Do large IT budgets translate into higher business performance? Can enterprises unlock the potential of data in the same way as hyper-scale internet companies whose very business models are often reliant on Big Data, millions of connected devices, and sophisticated software platforms and algorithms? What concrete business value does data have for enterprises in traditional industries like manufacturing, consumer packaged goods, financial services, and retail?
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