BuddeComm describes ‘big data’ as looking at intelligent outcomes that can be achieved from data collaboration.
The most critical issue here is strategic management, rather than technology. However the fact that big data has become a vital tool in competition is forcing many companies to transform their organisations from a company-centric approach to a customer-centric one.
The fact that this development is being driven by data-rich organisations such as Google, Apple, Amazon, Facebook, eBay and many others operating in the digital economy is an indication that data management is a critical factor here.
In other words, if you don’t have your company’s data systems and structures organised in a customer-centric way you won’t be able to deliver a good customer experience.
Connected information management, however, can go much further. There are many other players involved in the broader ecosystem, and by sharing and combining relevant data sets and then analysing those large data sets we can find new correlations that can be used to spot business trends, assess customer behaviour, prevent diseases, combat crime and so on.
Obviously this needs to be done on a permission-based or opt-in basis, but if the customer sees the value of it they can become involved. Nevertheless privacy is an issue that requires close scrutiny.
Mobile & Wireless Broadband and Media
Regulations & Government Policies
Strategies & Analyses (Industry & Markets)
Number of pages 16
Last updated 21 Mar 2016
Analyst: Paul Budde
As you know, I have resigned from the Labor Ministry and have decided not to re-contest the seat of Charlton at the next election – both for personal reasons.
Before leaving Parliament, I particularly wish to record my thanks to you for your generous and constructive participation in the deliberations that generated significant economic policy reforms for the Australian community. Continuous economic transformation is a key challenge that faces all Governments.
The development of sound public policy should always be contestable. Ultimately, good and equitable outcomes are not concessions to any particular interest group, but the careful balancing of interests to create the greatest possible benefit for the nation. You have contributed to that, and I sincerely thank you for it.
Greg Combet, Former Minister for Climate Change, Industry and Innovation
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