Big data is a term that has gained much attention across a broad range of industries worldwide. Businesses are recognising the potential of using big data in a number of innovative ways to improve operations, increase customer satisfaction, and ultimately drive business development and success.

In the following video, Timo Elliott, an innovation evangelist working closely with SAP research and innovation centres around the world, speaks about various business innovations made possible by effectively applying big data. Elliott discusses a number of examples of big data initiatives in three broad business areas: customer services, employee support and satisfaction, and real-time resource management.

After engaging with the video, share your thoughts on the impact that big data is having on the way businesses operate and the way industries are shaped. Include in your discussion post a response to the following questions:

What opportunities or innovations have been made possible by big data and analytics, in your professional context or industry of interest? Do you think that an increased reliance on big data poses any particular challenges or threats to businesses?