| |January 20189BIG DATA ANALYTICS EMPOWERS THE TRADITIONAL MODEL FOR A DETAILED DATA SOURCES, COUPLED WITH ADVANCED ANALYTICS AND ENRICHMENT CAPABILITIESData is cheap and dumb. Future and customer expectations can be met if its insight driven organization and not being using it for decision making. And should act upon insights everywhere across the business, making smart, collaborative and transparent decisions that generate value and create competitive advantage by merging data regardless of the format both structured and unstructured ­ the results are impressive.The ability to harness data is enabling masses of data to be utilized to form actionable customer segments and individualized offers to bring out the value and power of data, whether customer retention or spend management or sentimental analysis or predictive model. Connected CarsConnectivity was never new to automotive rather the business opportunities and market have grown to a different scale. While automotive digital technology once focused on optimizing the vehicle's internal functions, the computing evolution is now developing the car's ability to digitally connect with the outside world and enhance the incar experience. This is the connected car ­ a vehicle able to optimize its own operation and maintenance as well as the convenience and comfort of its passengers using onboard sensors and internet connectivity.Humongous opportunities are there to leverage new sources of Big Data to accelerate product design, improve vehicle performance and enhance the driver experience, be it applying statistical models as an approach to spend management or sentimental analysis of the social media data and its impact on the sales and business or making a simulation of real problem or developing an predictive analytics model for forecasting efficiency as well as operations and performance.Big Data Analytics empowers the traditional model for a detailed data sources, coupled with advanced analytics and enrichment capabilities. Concern of traditional business areas like Warranty Analysis, Predictive Maintenance, Product Performance, Parts Forecasting and Distribution Dealer Satisfaction can be given a completely new dimension.360 Degree Change desiredThe connected car is a gamechanger for the auto industry and it depends on how effectively OEMs will be able to defend their territory against the tech giants that consider the connected car a key element in their overarching "connected life" growth strategies.The time calls for reshaping the operating models--incorporating business, IT and an open connection into the entire connectivity ecosystem--to maximize value from connected car solutions. From a structural standpoint, flexibility to address fast changing market trends, multiple developments to determine their market potential, and partner with relevant 3rd parties to design and develop new innovative offerings is the objective. This ensures that the connected car becomes a strategic focus for the OEM while providing offerings that are relevant to local markets.From execution side, next gen tech skill in technology development to create new connected car offerings and to manage relationships with end consumers, highly efficient processes and a commitment to open innovation will be required to keep pace with evershorter technology innovation cycles and heightened consumer demand for frequent product innovations.And, from a technology perspective, an open technology architecture including standardized APIs is required to enable the seamless integration of thirdparty apps and services, while big data, analytics and cloud technologies are vital to creating datadriven services.To transform these opportunities into company value, auto senior executives need to recognize that connected car solutions go far beyond a simple vehicle option. Excelling in the connected car market requires a totally new business, which means profound changes in strategy, mindset, culture, and operations across the entire organization. C IVishal Sinha
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