The Five Most Urgent Data Impacts in the Near Future Market: Geodata Minds Seminar Take-OutsMarch 3rd, 2014
Seventy enlightened professionals from a range of industries and functions joined the CACI data and logistics team on 20th June at the Science Museum in London to debate and consider the biggest upcoming issues for their businesses in terms of data. From retail business leaders to financial services data scientists, our delegates were united by a common desire to shape the future of their organisations’ success with geodata.
Designed to provoke thought and stimulate effective planning, the seminar, subtitled “Think like there’s no box” covered a wide-ranging agenda, from economic and social trends to electric vehicles and mobile data. Here are five of the top take-outs that are challenging organisations as they prepare for market changes in the next one to five years.
1. Big Data Can Mean Many Things
Change in geodata points, whether across 24 hours or 25 years, is crucial to identify trends, risks and opportunities. Small but very detailed datasets can dive deep into the characteristics of a small geographic area or granular change in a short time period. Broad, shallow datasets might cover the entire world or a historic period. Whether you seek to optimise weekly retail staffing by
identifying the distribution and density of customers in a city centre, or to identify future delivery hub locations by looking at international population growth and habitation, finding the right type of data and ensuring that it’s reliable and up to date is key for strategic and operational research and planning.
2. There’s a Disconnect Between B2B and Consumers
Consumers have the world at their fingertips on their mobile. They want on-demand services and fast fulfilment, including delivery the same day or even hour of everything from groceries to meals to clothing to entertainment to transport. B2B doesn’t work at that super-responsive pace, so back-end supply chains struggle to adapt to this demand.
3. Businesses Need to Know More Than Consumers Want to Tell Them
When consumers fill in an online form for a quote or to place an order, they don’t expect to have to do all the hard work. If insurers, banks, service providers, courier services and retailers need fine detail about property locations, characteristics and access, they need to populate it for themselves using reliable third-party data sources.
4. Green Transport Decisions are Complex
The changing urban landscape and increasing environmental pressures mean many organisations are rethinking their vehicle and logistics arrangements. But there are many factors to consider, from vehicle costs, availability and depreciation to the practicalities of charging and fuelling as different infrastructures evolve. Modelling to compare different options is challenging.
5. Data Democracy Means Data Accessibility
The data ecosystem is getting bigger, and so is the way people want to access and consume the data. Data democratisation means that everyone wants to take a look, from basic, unskilled users to experienced Data Scientists. Providing data in suitable ways to meet different needs means getting the right format and channel – for servers that process data locally, for APIs, Business Intelligence (BI), systems, Geographical Information Systems (GIS) and for delivery through individual devices like tablets and mobile phones.
Are you considering your data options in context of any of these topics? If it’s a daunting prospect, talk to us. We can help you find answers to the critical questions for your business using a range of data sources, tools and expertise.