The rise of big data is an exciting — if in some cases scary — development for business. Together with the complementary technology forces of social, mobile, the cloud, and unified communications, big data brings countless new opportunities for learning about customers and their wants and needs. It also brings the potential for disruption, and realignment. Organizations that truly embrace big data can create new opportunities for strategic differentiation in this era of engagement. Those that don't fully engage, or that misunderstand the opportunities, can lose out.
There are a number of new business models emerging in the big data world. In my research, I see three main approaches standing out. The first focuses on using data to create differentiated offerings. The second involves brokering this information. The third is about building networks to deliver data where it's needed, when it's needed.
* Differentiation creates new experiences.
* Brokering augments the value of information.
* Delivery networks enable the monetization of data.
Via Andrew Spong