Social networks are the future of online life, whether we like it or not. Before the end of the coming decade, relationships with everyone –including family, friends, colleagues, employers, merchants, suppliers, and government agencies—will hinge on your access to these parties, and theirs to you, through online communities of all shapes and sizes.
Social networks are becoming much more pervasive than today’s mass-market communities—such as Facebook, Twitter, and LinkedIn—would lead you to believe. Before long, many will be embedded in the full range of business and personal applications. In ten years’ time, today’s social networks will have evolved into a powerful, seamless worldwide infrastructure for collaboration, sharing, interaction, and transactions. Many will be integral features of the mobile, broadband, and streaming media services that shape business and consumer life.
Business is all about placing bets and knowing if the odds are in your favor.
As I noted in my most recent Forrester report, business success depends on your company being able to visualize likely futures and take appropriate actions as soon as possible. You must be able to predict future scenarios well enough to prepare plans and deploy resources so that you can seize opportunities, neutralize threats, and mitigate risks.
Advanced analytics is a key competitive weapon of companies everywhere. Visionary organizations are those that take a future-facing, analysis-driven perspective on new challenges. They do this by grounding management forecasts in solid historical information sets, leveraging and extending companies’ existing investments in data mining and predictive modeling.
Jim addresses three key questions in this podcast: Question 1: What exactly is in-database analytics and why should business process professionals care? Question 2: Is in-database analytics a new approach, or is it an evolution of existing practices? Question 3: What are the main business drivers for in-database analytics? Question 4: How are data warehousing and data mining vendors supporting in-database analytics?
In any dynamic business environment, the last thing you want is to indulge in navel-gazing. If you’re finely attuned to monitoring internal processes, but are not adept at responding to breaking events or anticipating the future, you will find yourself marginalized in the new global economy.