While there were more than 100 - perhaps more than 1,000 - top takeaways from MicroStrategy World 2018, I was sorry I could not travel 16 concurrent track sessions and be one traveler...
As we focus on a new year of digital and business transformation fueled by the effective use of data, here are 18 top takeaways from MicroStrategy World 2018:
- The future belongs to the Intelligence Enterprise. This is an organization which anticipates constantly evolving regulatory, technological, market, and competitive challenges and turns them into opportunity and profit. It connects to any data and distributes reports to thousands. The Intelligent Enterprise goes beyond business intelligence, delivering transformative insight to every department, device, and constituent. Listen to MicroStrategy CEO Michael Saylor highlight the path to the Intelligent Enterprise or read more about it here.
- Enterprise organizations must transform from being data-aware to insights-driven. At MicroStrategy World, Forrester Research VP and Principal Analyst Boris Evelson noted that insights-driven businesses are growing at an average of more than 30% annually and are on track to earn $1.8 trillion by 2021. Read five best practices to become insights-driven here.
- Future success thrives on big data business models built on insight.Constellation Research Founder and Principal Analyst Ray Wang notes there will be 80 billion sensors in devices and 60% of mission critical data will reside outside of your four walls by 2020. Says Wang, "data is the foundation of digital business. Every touch point, every click, every digital exhaust is relevant insight."
- Data and analytics can be a game changer for any organization. Moneyball inspiration and Oakland A’s EVP of Baseball Operations Billy Beane is proof that any organization can benefit from decisions based on data rather than gut instinct (and that hiring exceptional analytics talent is one of the best decisions you can make). Read Impact Analytix founder Jen Underwood’s post about Beane’s presentation and analytics professionals as change agents here.
- Creating a data-driven culture is key to accelerating business transformation. Hear from House of Fraser's CIO, their Business Intelligence Program Manager, and their Director of Insight and CRM on how they're doing just that.
- Collaboration fuels the Intelligent Enterprise. Noted KFC in their presentation, "The differentiator between us and the competition is the number of our people loaded with real-time information to make a decision and the agility to act on it." Get tips on how to drive adoption and engage more users with MicroStrategy dossiers and collaboration tools.
- More and more organizations are doing good with data. From helping people to reduce calorie consumption, to seeking solutions to the opioid crisis, to addressing national public health surveillance needs in South Africa, data and analytics are helping organizations to do more good. View the National Institute for Communicable Diseases’ presentation from MicroStrategy World here.
- Most organizations aren't even close to using all of the data available to them. Forrester VP and Principal Analyst revealed that for structured data, most organizations perceive they are using at least half of all available data, but are only using 20%. For unstructured data, organizations perceive there are using one-third, but are only actually using about 10%. View the stats here.
- Conquering mountains of data can be compared to scaling Mount Everest. Datastrong COO Tim Igo shared his lessons learned from climbing the world’s highest mountain and compared Everest’s Camp 1 to mastering dashboards, Camp 2 to mobility, Camp 3 to predictive analytics, Camp 4 to prescriptive analytics, and summiting to mastering artificial intelligence. Follow the journey here.
- Don't get lost in the data. Former NASA astronaut Greg Harbaugh shared fascinating lessons on having the right data at the right time to make the right decisions from his time aboard the Space Shuttle. His advice: always look at the big picture. Don't get lost in the data. Know the problem you need to solve, the question you want answered, the mission you have to accomplish and focus.
- Look to the cloud. According to a Deloitte, EMA and Informatica State of Cloud Analytics Report, cloud is now an essential part of the analytics strategy of 70.1% organizations; 21.6% state that it is necessary as part of their analytics adoption. Watch MicroStrategy on AWS: How to Deploy an Enterprise BI Project in 30 minutes or this presentation on how to leverage a hybrid cloud model to enhance your analytics platform.
- Custom branding your business intelligence platform leads to greater awareness and adoption. Many brands confirmed this best practice in use: naming their business intelligence platform (for example, Simon or Gator) and then custom branding it to truly make it their own. Watch how to do it here.
- Consumer mobile app development best practices also work for business apps. Adidas got their organization up and running quickly with nine top tips for developing a dynamic mobile BI app. Get more tips for designing and implementing a mobile app here.
- Voice assistants are just as useful to the business side as they are to consumers. Check out MicroStrategy CTO Tim Lang's thoughts, and learn how to build an Alexa skill with MicroStrategy here.
- IoT insights are not only powering business transformation and better customer experiences. They're also powering smart cities. See how to design IoT applications with real-time data and custom visualizations, and check out the smart cities presentation here.
- Workplaces and the employee experience are also benefiting from enterprise analytics and mobility. Check out this presentation on leveraging real-time telemetry for a better employee experience.
- Sixty-seven percent (67%) of BI and analytics professionals in a MicroStrategy World poll said AI and machine learning will be the most important trend for them in 2018. Forrester Research VP and Principal Analyst Boris Evelson advises businesses not to get left behind as their research shows that 51% of organizations surveyed in 2017 said they were already investing in AI. Read more trends to watch in 2018 here.
- The path to success for organizations striving to become an Intelligent Enterprise lies at the intersection of technology, technique, and excellence.
Eighteen top takeaways and this doesn't even scratch the surface. See more top takeaways from MicroStrategy World 2018 via the #analytics18 hashtag on Twitter, and view event keynotes and view presentations here.