With enterprise data set to multiply 10 times over the next five years, the only companies likely to succeed in this new environment are those with a granular grasp of their business.
Delivering the keynote address at Teradata's Universe conference in Melbourne today, the company's chief marketing officer, Robert Fair, said the need for enterprise analytics has never been greater.
"There is an urgency to extract more value from resources across the enterprise; we have moved from a world where the big have eaten the small, to where the fit eat the fat," Fair said.
So what is the fitness regime Teradata is proposing?
According to Fair it is about leveraging information and integrating data into every fibre of the organization for effective decision-making.
"Competing in the 21st century, the winners will be those that can operate with precision and speed. And this will enable the quick and agile to win," he said.
Teradata's A/NZ vice president, Julian Beavis, said enterprise data now has an operational role in delivering business insight across the organization and is actively driving future business strategy.
But in terms of actual ownership of enterprise data projects, in most cases it appears that the IT department has taken on a support role to an increasingly savvy business manager.
"As business consolidates its ownership of the IT department and outmoded data marts, it is clear that the chief information officer needs to more closely align with boardroom colleagues and acknowledge that IT is now itself integral to the business process," Beavis said.
"A single view of the customer across the business is still the primary role of an enterprise data warehouse; however, churn management, operational efficiency, revenue and profitability optimization are now becoming key deliverables, as enterprise analytics becomes increasingly sophisticated."
The huge increase in data expected over the next five years means companies will move to a central repository.
"The first generation of data warehouses were useful for strategic analysis, the next generation is taking a more proactive role in driving tactical decisions at the operational coal face of the organization," Beavis said.
"These are active data warehouses providing advanced decision-making support on a day-to-day, even minute-to-minute basis, putting the intelligence into business intelligence."