The tech space is often a good benchmark for what the opportunities are with certain business capabilities, especially in the case of recent data acquisitions. The recent news that Looker is being acquired by Google for $2.6 billion, quickly followed by the acquisition of Tableau by Salesforce for $15.6 billion, both demonstrate how organisations are recognising the importance and transformational potential of data. What does this mean for the future of data and analytics? Cynozure CEO Jason Foster shares his perspective on how the data industry is moving forward.
What do recent acquisitions mean for the industry at large?
Similar to the early 2000s, when Cognos, Hyperion and BusinessObjects all were snapped up in quick succession amongst a plethora of similar companies, these acquisitions (and their valuations) represent that now more than ever data is a massive differentiator. For the majority of businesses, data is becoming a critical asset in their arsenal – the question is, are you clear on your path to success in your business through the application of data?
The arms race to get ahead with data and analytics means that organisations really need to make the most out of their data. How? A data strategy is the best foundation for your data, clearly defining your approach and method for getting value out of the heaps of raw data at your disposal. This gives you a versatile framework tailored to your business goals, ensuring that you can get ahead of the competition with the most effective approach to data and analytics.
Jason Foster, now CEO at Cynozure, has spent his career defining, shaping and delivering data and analytics strategies that help organisations across multiple sectors get value from data.