It’s been said that all businesses are technology companies in the age of digital transformation. It’s also true that many are becoming information businesses as the amount and value of data they produce and consume continues to increase. In fact, business leaders and CIOs will find themselves not only missing opportunities but also at a competitive disadvantage if they don’t leverage data assets before markets are crowded with competitors.
What if you discovered oil in your backyard? How would you get it extracted from your property and deliver it to customers? Where would you sell it and what would you charge? If the world’s most valuable resource is no longer oil, but data, how does your enterprise leverage the data it already creates and manages to turn what is ‘in your backyard’ into a sustainable revenue stream?
As the market for intelligent applications and the software platforms used to build them has emerged, nomenclature confusion has grown. What should we call these applications, and what should we call the platforms, libraries and software tools used to build them?
The terminology matters. Vendors need to differentiate their products from the business intelligence and predictive analytics software that has existed for decades. ‘Intelligent applications’ and ‘business intelligence’ software provide two very different sets of functionality. For technology buyers who need to justify new solutions to budget holders, the terminology matters too.
