With mobile apps, social media throwing up huge goblets of data, its almost criminal not to leverage insights that come from it. Traditionally such efforts need a lot of upfront investments with value from the data unknown. As machine learning/AI replace/supplement human judgement , plowing data for patterns/insights is now almost mandatory. If you are not doing it, your competitor is doing it and is able to cross sell/up sell better thanks to them.
With cloud based infrastructure costs coming down year on year and available on demand and usage based, the barriers/thresholds to leveraging data have also come down significantly. So all the tools exist and its now left to your creativity/imagination.
The data , its volumes, its storage is not all that valuable if the insights that come out of it are not powerful enough. So value is in insights and the methodologies to extract insights. Value is also in triaging the insights to see which ones make most business impact.
If you are able to understand the business intricacies and figure out what insights will tip the scale in your favour in the market place, that’s the creamy part. Everything else is on-demand commodity.
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