Hedgehog Hall of Fame: Hotwire - Data Equity: unlocking the value of big data
30th August 2013
Company: Hotwire Campaign: SAS – Data Equity: unlocking the value of big data Category: Best use of Evaluation - South - Shortlisted Objective More data has been created in the last two years than in the history of mankind. A business’ ability to take advantage of what has been coined ‘big data’ is the new technology secret weapon. Hotwire identified the opportunity for SAS, the world’s biggest to business analytics software company, to build on the interest in big data by investigating its economic value to the UK economy, who could benefit from it and how the application of big data analytics could help organisations make more informed business decisions, faster. Hotwire recommended that SAS investigate the benefits of big data to the UK economy and reveal the ‘data equity’ (the economic value of data of big data). Hotwire suggested that SAS partner with the Centre for Economics and Business Research (Cebr), and the result was the first comprehensive economic study into the value of big data to the UK economy - Data Equity: Unlocking the value of big data. The details of the report found that the adoption of HPA to harness big data could contribute £216 billion to the UK economy and stimulate 58,000 net new jobs between 2012 and 2017. Hotwire and SAS identified three objectives: • Align SAS to the growing business issue of big data within the media, online community, partners, customers, prospects and staff. • Position SAS High-Performance Analytics (HPA) as the solution for organisations to unlock the economic value of big data (data equity). • Create a thought leadership platform to generate sales interest in SAS and its HPA solutions. Target Audience Hotwire advised SAS to investigate the issue of big data from a macro-economic perspective by partnering with Cebr to identify the economic opportunity and challenges of big data and data equity. In doing so, SAS would be able to define and articulate clearly the concept of data equity, and how unlocking the value of big data presents huge benefits to commercial and public sector organisations. Action Under Hotwire’s guidance, the Cebr study looked at the economic potential, by industry, to the UK economy through the adoption of high-performance analytics (HPA) software. It revealed that by using HPA, organisations could analyse vast amounts of data - which previously would have taken weeks, days or many hours to analyse - in just minutes or seconds, to identify patterns, trends and insights to make better decisions. The results of the study revealed a huge economic benefit to both the public and private sectors, if they were to make the most of big data through HPA adoption. The report was based around an economic framework consisting of six key enterprise mechanisms including customer intelligence, supply chain management, and risk management that produced three main economic benefits from harnessing big data – business efficiency, business creation and business innovation. The top line results of the study included: • Between 2012-2017, the cumulative benefit would be £216 billion - equivalent to 22 per cent of the UK net debt (c. £1 trillion) or more than the 2011/12 defence, NHS and education budgets combined. • Efficiency gains could contribute a cumulative benefit of £149.5 billion by 2017 with better customer intelligence delivering £73.8 billion and supply chain improvements contributing £45.9 billion to the overall figure. • Business innovation could contribute £24 billion to the economy; business creation £42 billion. As a result of business innovation and creation, 58,000 net new jobs could be generated through harnessing big data. Results The report was launched on Thursday 5 April with a large media push including press, radio interviews and Twitter engagement. The results so far include: • 160 leading corporations and government organisations downloaded the report with a 25 percent conversion rate from click-through to downloads, well above the 5% average. • SAS CEO Dr Jim Goodnight positioned as a big data thought-leader on CNBC Europe - programme has an audience of 5 million in over 100 countries. • 64 pieces of coverage in total to date - 32 pieces of tier one print/online coverage including New Statesman, The Guardian, City AM and Computing reaching over 10.5 million decision makers; 24 radio interviews; 1 TV interview; 7 online video items. URL http://www.sas.com/reg/gen/uk/big-data The PRmoment Golden Hedgehog Awards 2014 are now open for entries. Here are this years updated categories.