Analysts to Discuss Big Data at Gartner Business Intelligence and Analytics Summits 2013, February 5-7 in Barcelona, February 25-26 in Sydney and March 18-20 in Grapevine, Texas
The financial demands of storing and managing big data will lead 30 percent of businesses to directly or indirectly monetize their information assets by trading, bartering or outright selling them by 2016, according to Gartner, Inc. Many enterprises are starting to appreciate the real market value that their harvested information assets have within their own industries or beyond. However, the lack of expertise in handling big data and developing information products will create an opportunity for the growth of specialist intermediaries, acting as information brokers or resellers.
"The need to justify the expense of accumulating and managing huge volumes of data has led many organizations to consider monetizing or productizing their information assets," said Doug Laney, research vice president at Gartner. "For example, several retailers are already generating millions of dollars per year in incremental revenue by placing online their point-of-sale and other data for business partners to subscribe to. Other individuals have launched ventures packaging and reselling publicly available data, or using it to launch new information-based products — such as in the insurance and financial markets."
Since many businesses are ill-equipped to develop and introduce information-based products, "information resellers" will arise to help organizations develop and execute information asset monetization strategies. Gartner anticipates the appearance of "information product managers" to lead these efforts internally.
The new opportunities for significant information-borne income will lead makers of web-connected products to ensure their offerings collect as much usage, location and system data as possible. To assist in these efforts, Gartner, as part of its "infonomics" research, has developed valuation models that help organizations gauge the potential and realized economic value of their information assets.
"Consumers and businesses must recognize that their personal usage, location, profile and activity data has a tangible market value. They should guard it and ensure that when they do share it they receive ample services, products or cash for it," said Mr. Laney. "Businesses monetizing information assets need to be sensitive to the reputational risk of public backlash against such practices, that may in turn lead to a tighter regulatory environment." Recently, for example, the Federal Trade Commission issued subpoenas to major information brokers to disclose how they collect, use and protect personal information.
One issue arising from the trend toward monetizing information assets is that traditional database management system and business intelligence products and implementations are not well-suited to sharing data in a subscription-based manner. The implication is that new forms of the technology are emerging — focusing on cloud-based implementations that enable subscriber-based access and restricted access to segments of data. "A nascent crop of shared information hosting services already complements established syndicated data providers, and most vendors have taken steps to cloud-enable their technologies," concluded Mr. Laney.
Additional information and analysis, on how businesses can monetize their information assets while navigating the potential hurdles, will be discussed at the Gartner Business Information & Analytics Summit 2013 taking place February 5-7 in Barcelona, February 25-26 in Sydney and March 18-20 in Grapevine, Texas. The Gartner Business Intelligence (BI) & Analytics Summit is specifically designed to drive organizations toward analytics excellence, by exploring the latest trends in BI and analytics and examining how the two disciplines relate to one another. Gartner analysts will discuss how the Nexus of Forces will impact BI and analytics, and share best practices for developing and managing successful mobile BI, analytics and master data management initiatives.
More information about the BI & Analytics Summit in Barcelona can be found at http://www.gartner.com/technology/summits/emea/business-intelligence/?ref=g_homelink
Members of the press can register for this Summit by contacting Rob van der Meulen at firstname.lastname@example.org.
More information on the BI & Information Management Summit can be found at http://www.gartner.com/technology/summits/apac/business-intelligence/.
Members of the press can register for this Summit by contacting Susan Moore at email@example.com
Gartner, Inc. (NYSE: IT) is the world's leading information technology research and advisory company. Gartner delivers the technology-related insight necessary for its clients to make the right decisions, every day. From CIOs and senior information technology (IT) leaders in corporations and government agencies, to business leaders in high-tech and telecom enterprises and professional services firms, to supply chain professionals, digital marketing professionals and technology investors, Gartner is the valuable partner to clients in more than 10,000 distinct enterprises. Gartner works with clients to research, analyze and interpret the business of IT within the context of their individual roles. Gartner is headquartered in Stamford, Connecticut, U.S.A., and has almost 9,000 associates, including 1,900 research analysts and consultants, operating in more than 90 countries. For more information, visit www.gartner.com.
Comments or opinions expressed on this blog are those of the individual contributors only, and do not necessarily represent the views of Gartner, Inc. or its management. Readers may copy and redistribute blog postings on other blogs, or otherwise for private, non-commercial or journalistic purposes. This content may not be used for any other purposes in any other formats or media. The content on this blog is provided on an "as-is" basis. Gartner shall not be liable for any damages whatsoever arising out of the content or use of this blog.