IBM has just spent $2.6bn buying Truven Health – a big investment and one that is all about the acquisition of data (and customers).
Increasingly organisations are seeing that the real value in an organisation is in the data assets – with the ability to use analytics to get rich insights from large data sets. The smart organisations are using analytics and big data to truly understand customer behaviour, value levers for an industry and value points in the supply chain (amongst many other things) to put themselves in an advantaged position.
So the things that we have for so long called ‘intangible’ – such as data, customer contacts and relationships – have become the most tangible in determining value.
The challenge for organisations is to ensure that they are capturing and curating the data and intangible assets that sit within their systems and processes and then using the analytical tools to extract the value.
See below a link to an article in Fortune on the IBM acquisition.
Why IBM Is Dropping $2.6 Billion on Truven Health
It is always interesting to see how different organisations see the importance of data and customer connection and the strategies they adopt to connect with customers.
Under Armour is rapidly becoming a technology owner – acquiring MapMyFitness, MyFitnessPal, and Endomondo for a combined $710 million. A big number for a company that turns over $4 billion.
It’s a big bet by them on the importance of data and I’m sure it is a strategy to create a platform to build customer loyalty and secure additional revenue streams. Reportedly, Under Armour is developing its own tracker and new apps to interface with customers.
Under Armour is going after a strategy that Nike has abandoned – presumably because it was unsuccessful for Nike. Nike shut down its FuelBand fitness tracker line. Nike is now relying on alliances (an alternative and very legitimate strategy) for its data and ‘wearables’.
Maybe it’s not a fair fight with the might of Nike vs the smaller Under Armour – but it’s going to be interesting to watch and I like the level of importance that Under Armour is placing on trying to create a platform for customer connection.