The Value of Big Data
Big data is an umbrella term, referring to enormous sets of data that are accessible by businesses from varying technological sources. The data in the rawest of states does not necessarily make sense to the business; hence it needs to be analyzed in order to reveal certain patterns and trends to work with, in order to promote better decision making processes and strategic planning. The skyrocketing growth of digital technology has made the availability massive; be it mobile phones, web logs, sensors and any other kind of electronic device. By the year of 2020, it is prophesized to generate 1.7 megabytes of data every second.
Simply collecting this data does not divulge its value; in fact, a McKinsey survey revealed that only 18 percent of companies have the appropriate skills to use insights efficiently. Oftentimes, a major chunk of the data remains unused, due to lack of relevance. This is where companies recruit “translators”, who are professionals who can bridge varying functions within the organization and promoting healthy communication between them.
Big data analytics is being used widely in several industries in order to gain a deeper understanding of customer preferences, buying patterns and key influencers in decision-making processes. IT in particular has a major role in integrating big data analytics into business operations. Some of these areas include:
• Digitalizing data: Converting paper-based documents that can be mined for big data aggregations into digital format.
• Data generated through Internet of Things (IoT): This data is generally unstructured and mostly machine data. The current aim of IT departments is to collect and rationalize this data into useable formats.
• A drive for quicker analytics and actionable data for business leaders.
MapR Launches Avant-garde Converge Partners Global Program
By Chris Tjotjos, VP, Cisco Solutions Practice, Black Box...
By Laura Jackson, Sr. Manager-Risk Management, ABS Consulting
By Jason Cradit, VP of Information Systems, Willbros Group
By Steve Garske, Ph.D., Senior Vice President & Chief...
By Roman Trakhtenberg, CEO, Luxoft
By Renee P Wynn, CIO, NASA
By Mike Morris, CIO, Legends
By Louis Carr, Jr., CIO, Clark County
By Andrew Macaulay, CTO, Topgolf Entertainment Group
By Dominic Casserley, President and Deputy CEO, Willis...
By Dave Nelson, SVP-Portfolio Lead, Avanade, Inc.
By Michael Cross, SVP & CIO, CommScope Holding Company Inc.
By Pauly Comtois, VP DevOps, Hearst Business Media
By Dan Adam, CIO, Extreme Networks
By Matt Schlabig, CIO, Worthington Industries
By David Tamayo, CIO, DCS Corporation
By Scott Cardenas, CIO, City and County of Denver
By Marc Kermisch, VP & CIO, Red Wing Shoe Co.
By Brian Drozdowicz, VP, Digital Services, Siemens...
By Les Ottolenghi, EVP and CIO, Caesars Entertainment