In today's global economy, success in the form of higher performance is increasingly defined by having this "freedom of excess" to innovate, to provide customers with better (stronger) products and services, and to have the ability to act faster and with greater insight within ever-shorter decision windows in the face of uncertainty within a rapidly evolving economic system. Today, the convergence of intelligent devices, social networking, pervasive broadband networking and analytics has ushered in a new economic system that is redefining relationships among producers, distributors and consumers.
In the enterprise, the increase in the speed of change means that managers cannot rely on experience or intuition alone to make decisions. Shorter decision windows demand a rapid, insightful response based on ongoing internal and external events.
This new environment is moving us from the information economy to "the intelligent economy." What's different in the intelligent economy is scale and time. "Scale" refers to the amount of data as well as the type and sources of data originating from a large network of people and devices. "Time" refers to the need to analyze the data and act in near real time. The successful realization of the intelligent economy, including its components such as intelligent grids, intelligent retailing, intelligent supply chains, intelligent financial management and even intelligent defense and law enforcement, will depend on many contractual, social, standardization and technological factors, including the ability to capture, manage and analyze the vast amounts of data created as part of the interactions and processes.
We need access to information coupled with the ability to analyze and act upon it — all in real time — to create competitive advantage in commercial transactions, enable sustainable management of communities and promote appropriate distribution of social, health care, and educational services.
Over the course of several months in 2011, IDC conducted a research study to identify the opportunities and challenges to adoption of a new technology that changes the way in which traditional business solutions are implemented and used. The results of the study are presented in this white paper.
The goal of the research presented in this white paper was to discover how use of analytics, data warehouses and business applications could be improved through in-memory-based technologies.