For decades, strategists have posited that business success requires large companies that benefit from econmies of scale and value chains. But a new force will soon dominate business strategy and transform business as we know it: the huge quantity of data sharable by competing groups.
Big Data is not new news, but its impact on business strategy and traditional business operations is expected to be revolutionary. Philip Evans, a senior partner and manager director at the Boston Consulting Group, suggests that technological innovations are enabling the massive sharing of data among different organizations of all sizes.
This is leveling the playing field and creating a very different marketplace than the one where large oligopolistic corporations have enjoyed competitive advantage with businesses based on proprietary data.
View this thought-provoking TED Talk, recorded November 2013 at TED/BCG San Francisco, to learn how Big Data is forcing us to think fundamentally differently about the structure of business.
Speaker: Philip Evans
Philip Evans, a senior partner and manager director at the Boston Consulting Group, believes that the information economy is putting a spotlight on the trade-off between “richness and reach” in business. He is the co-author of Blown to Bits, which addresses this critical development.
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Much of the success that Business Solution Partners enjoys can be directly attributed to the insatiable drive of our consultants to learn and grow through continuing education. To stay abreast of the latest developments in business and finance, we look to though-leaders, mentors and disruptors that are shaping the future of industry. TED talks are an amazing resource that we want to share with you, our clients and friends. Come back to our blog every Tuesday for another phenomenal video from the world's brightest minds in finance and business.