|By Rick Kawamura||
|March 8, 2012 06:00 AM EST||
I recently presented, "The Moneyball Approach to Big Data - Creating an Unfair Advantage," at the Wall Street Technology Association's Hot Technologies Forum in New York. Everyone is talking about Big Data, but when it comes to taking action, most are taking a "wait-and-see" approach, and that concerns me. Skepticism or "late-adopter" mentality is understandable - if you want to forego a low-risk, high-reward opportunity and let your competition gain the advantage.
My job is to create value for my customers, and I'd hate to see anyone miss out on the opportunity presented by Big Data.
What's the Problem?
The Corporate Executive Board identified three potential barriers to Big Data implementation:
- Information Attainability (the right information is available and easy to find)
- Information Usefulness (information is of good quality and is usable in format)
- Employee Capability (employees analyze information effectively to make good decisions)
While these are definitely three potential barriers to implementation, the main problem I see in the market is pre-implementation where the "wait and see" mentality is caused by either a feeling that Big Data is over-hyped ("maybe it will go away"), or paralysis by analysis (the enormity and complexity of Big Data is too confusing to take action).
What Is Big Data?
The most common definition I've seen for Big Data is summarized by the three Vs:
- Volume: It's big - terabytes and petabytes of data
- Variety: It comes in many forms - internal, external, structured, and unstructured
- Velocity: It is growing and changing rapidly - making real-time capture and action hugely important
This definition is always supported by numbers showing the vastness and enormity of Big Data:
- The New York Stock Exchange creates 1 terabyte of data per day (InformationWeek)
- 10,000 payment-card transactions are made per second worldwide (American Banker)
- 30 billion pieces of content are shared on Facebook every month (McKinsey)
- Twitter feeds generate 8 terabytes of data every day (InformationWeek)
The Internet plays a huge role in the rapid growth of Big Data, giving individuals the ability to post and upload immense amounts of pictures, text, video, and mobile data. It also gives businesses a channel to offer access to customers and partners through web-based applications (think Oracle, salesforce.com, social media, procurement, logistics, publishers, etc.). One way to visualize this explosion of applications and data is the Bessemer Venture Partners Cloudscape. And that's just in the cloud. Don't forget all of the apps and data behind the firewall of every organization, whether commercial, governmental, or charitable. Big Data truly is BIG.
Before you go out and buy massive amounts of storage, take a look at what you currently consume and utilize and start from there in easily digestible portions. Forrester estimates that enterprises currently utilize less than 5% of available data. In a survey of global executives, IBM shows that 33% have made decisions with inaccurate data or data they don't trust; half don't have sufficient information from across their organization to do their job; 75% believe more predictive information would drive better decisions; yet 87% have yet to even start taking advantage of opportunities to leverage information to their advantage. You don't need to immediately implement a solution getting you to 100% or even 50% of available data - 6-10% will do for now.
If there are 200 million tweets a day equaling 8 terabytes of data, but only 1,000 of those tweets relate to your product or company, do you need to store and analyze all 8 terabytes every day? Think of it this way: there's a huge difference between "I have terabytes of data - videos, satellite pictures, social media conversations, and research reports" and "I know where Public Enemy #1 is." It comes down to Data vs. Intelligence. Data is useless if you can't extract meaningful intelligence from it. And the quality of the intelligence is much less dependent on the volume of data than it is on the relevance of the data and your ability to access it.
The Magic Words: Relevance and Accessibility
Although Big Data lives up to its name, don't get caught up in all the massive numbers. Focus on what's relevant to your business. Consider this: Sybase published Big Data, Big Opportunity that stated "for the median Fortune 1000 company... a 10% increase in usability of data translates to an increase of $2.01 billion in total revenue per year, [and] a 10% increase in accessibility to data translates to an additional $65.67 million in net income per year." Just because your company currently may have access to only 5 percent of the relevant data that is available, don't despair. You don't have to go from 5 percent to 100 percent. You really only need to go from 5 percent to 5.5 percent to reap great rewards.
The Secret to Taming Big Data
Despite all the hype and discussion around Big Data's massiveness, I've yet to find a single article mentioning the difficulty of accessing data that is spread throughout all of the various source applications. Until recently there were no Big Data integration platforms that could deal with the exploding number of applications and all of the data they contain, as well as the speed at which both are changing. Just a glance at the daily domain statistics on www.domaintools.com gives you an idea of the volume of sites being created, deleted, and transferred every 24 hours. Not every integration solution can manage the intensity of that kind of change to give you access to the relevant data - the business intelligence - your business needs when you need it.
The whole point of gaining access to relevant data is that it must be actionable. Otherwise it's a big waste of time and effort. What's amazingly useful about Big Data, and the web-based nature of so much of it, is that with a Big Data integration platform you can access any data you can see on a website and you can just as easily transform that data, perform an operation on it, and automate a resulting action. Here's an example:
You know that consumers and even your B2B purchasers research prices online and that loyalty to any one vendor has deteriorated as buyers have more pricing knowledge just a search and mouse-click away. But you're smarter than your competitors because you're already doing the extra 10 percent. You set up automated monitoring of your competitor's pricing, and when their price drops below yours, your Big Data integration platform calculates the difference plus 10%, logs into your ecommerce site and adjusts your prices automatically, all in mere moments. The beauty is that this can all be set up in hours, if not a few days, and you don't have to bring in an army of developers or consultants to create custom code to do any of it.
If I told you I could guarantee any application or data you can see in your web browser (customer data, bank transactions, twitter, blogs, supply chain vendors, government data, competitor prices, etc.) could be automatically accessed and loaded into the application, database, or spreadsheet of your choice, how many game-changing Big Data projects could you imagine? Understanding the point-in-time cash position of billions of dollars across 300 banks? No problem. Monitoring competitor pricing on 50,000 SKUs every day? Simple. Automating a 23-step manual invoicing process to get paid millions of dollars two days faster? Done. Real-time, automated access to the relevant data you need is the key to success with Big Data.
Every company can benefit from Big Data in many ways, but most don't realize it. Hundreds of scenarios are possible using real-time application integration platforms that could save your company millions of dollars; grow revenue by double-digit percentages; create more personalized products that delight your customers; automate real-time feedback on your brand, products, and competitor prices; create your own custom research that allows you to see trends before your competitors do; and overall make your company a much more agile business that scales with your new-found vigor and growth. Don't let the size of Big Data paralyze you; get real-time access to the data that is relevant to your company's growth and take action.
SYS-CON Events announced today that 910Telecom will exhibit at the 19th International Cloud Expo, which will take place on November 1–3, 2016, at the Santa Clara Convention Center in Santa Clara, CA. Housed in the classic Denver Gas & Electric Building, 910 15th St., 910Telecom is a carrier-neutral telecom hotel located in the heart of Denver. Adjacent to CenturyLink, AT&T, and Denver Main, 910Telecom offers connectivity to all major carriers, Internet service providers, Internet backbones and ...
Oct. 24, 2016 05:00 PM EDT Reads: 3,621
SYS-CON Events announced today that Coalfire will exhibit at the 19th International Cloud Expo, which will take place on November 1–3, 2016, at the Santa Clara Convention Center in Santa Clara, CA. Coalfire is the trusted leader in cybersecurity risk management and compliance services. Coalfire integrates advisory and technical assessments and recommendations to the corporate directors, executives, boards, and IT organizations for global brands and organizations in the technology, cloud, health...
Oct. 24, 2016 04:45 PM EDT Reads: 1,564
SYS-CON Events announced today that Transparent Cloud Computing (T-Cloud) Consortium will exhibit at the 19th International Cloud Expo®, which will take place on November 1–3, 2016, at the Santa Clara Convention Center in Santa Clara, CA. The Transparent Cloud Computing Consortium (T-Cloud Consortium) will conduct research activities into changes in the computing model as a result of collaboration between "device" and "cloud" and the creation of new value and markets through organic data proces...
Oct. 24, 2016 04:30 PM EDT Reads: 1,362
The Internet of Things (IoT), in all its myriad manifestations, has great potential. Much of that potential comes from the evolving data management and analytic (DMA) technologies and processes that allow us to gain insight from all of the IoT data that can be generated and gathered. This potential may never be met as those data sets are tied to specific industry verticals and single markets, with no clear way to use IoT data and sensor analytics to fulfill the hype being given the IoT today.
Oct. 24, 2016 04:15 PM EDT Reads: 2,594
WebRTC defines no default signaling protocol, causing fragmentation between WebRTC silos. SIP and XMPP provide possibilities, but come with considerable complexity and are not designed for use in a web environment. In his session at @ThingsExpo, Matthew Hodgson, technical co-founder of the Matrix.org, discussed how Matrix is a new non-profit Open Source Project that defines both a new HTTP-based standard for VoIP & IM signaling and provides reference implementations.
Oct. 24, 2016 04:15 PM EDT Reads: 2,745
In his general session at 18th Cloud Expo, Lee Atchison, Principal Cloud Architect and Advocate at New Relic, discussed cloud as a ‘better data center’ and how it adds new capacity (faster) and improves application availability (redundancy). The cloud is a ‘Dynamic Tool for Dynamic Apps’ and resource allocation is an integral part of your application architecture, so use only the resources you need and allocate /de-allocate resources on the fly.
Oct. 24, 2016 04:00 PM EDT Reads: 3,718
We're entering the post-smartphone era, where wearable gadgets from watches and fitness bands to glasses and health aids will power the next technological revolution. With mass adoption of wearable devices comes a new data ecosystem that must be protected. Wearables open new pathways that facilitate the tracking, sharing and storing of consumers’ personal health, location and daily activity data. Consumers have some idea of the data these devices capture, but most don’t realize how revealing and...
Oct. 24, 2016 02:15 PM EDT Reads: 3,938
A completely new computing platform is on the horizon. They’re called Microservers by some, ARM Servers by others, and sometimes even ARM-based Servers. No matter what you call them, Microservers will have a huge impact on the data center and on server computing in general. Although few people are familiar with Microservers today, their impact will be felt very soon. This is a new category of computing platform that is available today and is predicted to have triple-digit growth rates for some ...
Oct. 24, 2016 02:00 PM EDT Reads: 34,152
SYS-CON Events announced today that MathFreeOn will exhibit at the 19th International Cloud Expo, which will take place on November 1–3, 2016, at the Santa Clara Convention Center in Santa Clara, CA. MathFreeOn is Software as a Service (SaaS) used in Engineering and Math education. Write scripts and solve math problems online. MathFreeOn provides online courses for beginners or amateurs who have difficulties in writing scripts. In accordance with various mathematical topics, there are more tha...
Oct. 24, 2016 01:00 PM EDT Reads: 1,009
In past @ThingsExpo presentations, Joseph di Paolantonio has explored how various Internet of Things (IoT) and data management and analytics (DMA) solution spaces will come together as sensor analytics ecosystems. This year, in his session at @ThingsExpo, Joseph di Paolantonio from DataArchon, will be adding the numerous Transportation areas, from autonomous vehicles to “Uber for containers.” While IoT data in any one area of Transportation will have a huge impact in that area, combining sensor...
Oct. 24, 2016 01:00 PM EDT Reads: 849
SYS-CON Events announced today that SoftNet Solutions will exhibit at the 19th International Cloud Expo, which will take place on November 1–3, 2016, at the Santa Clara Convention Center in Santa Clara, CA. SoftNet Solutions specializes in Enterprise Solutions for Hadoop and Big Data. It offers customers the most open, robust, and value-conscious portfolio of solutions, services, and tools for the shortest route to success with Big Data. The unique differentiator is the ability to architect and ...
Oct. 24, 2016 01:00 PM EDT Reads: 884
The best way to leverage your Cloud Expo presence as a sponsor and exhibitor is to plan your news announcements around our events. The press covering Cloud Expo and @ThingsExpo will have access to these releases and will amplify your news announcements. More than two dozen Cloud companies either set deals at our shows or have announced their mergers and acquisitions at Cloud Expo. Product announcements during our show provide your company with the most reach through our targeted audiences.
Oct. 24, 2016 12:45 PM EDT Reads: 4,724
More and more brands have jumped on the IoT bandwagon. We have an excess of wearables – activity trackers, smartwatches, smart glasses and sneakers, and more that track seemingly endless datapoints. However, most consumers have no idea what “IoT” means. Creating more wearables that track data shouldn't be the aim of brands; delivering meaningful, tangible relevance to their users should be. We're in a period in which the IoT pendulum is still swinging. Initially, it swung toward "smart for smar...
Oct. 24, 2016 12:30 PM EDT Reads: 1,009
@ThingsExpo has been named the Top 5 Most Influential Internet of Things Brand by Onalytica in the ‘The Internet of Things Landscape 2015: Top 100 Individuals and Brands.' Onalytica analyzed Twitter conversations around the #IoT debate to uncover the most influential brands and individuals driving the conversation. Onalytica captured data from 56,224 users. The PageRank based methodology they use to extract influencers on a particular topic (tweets mentioning #InternetofThings or #IoT in this ...
Oct. 24, 2016 12:15 PM EDT Reads: 8,429
SYS-CON Events announced today that Niagara Networks will exhibit at the 19th International Cloud Expo, which will take place on November 1–3, 2016, at the Santa Clara Convention Center in Santa Clara, CA. Niagara Networks offers the highest port-density systems, and the most complete Next-Generation Network Visibility systems including Network Packet Brokers, Bypass Switches, and Network TAPs.
Oct. 24, 2016 11:45 AM EDT Reads: 1,315
In an era of historic innovation fueled by unprecedented access to data and technology, the low cost and risk of entering new markets has leveled the playing field for business. Today, any ambitious innovator can easily introduce a new application or product that can reinvent business models and transform the client experience. In their Day 2 Keynote at 19th Cloud Expo, Mercer Rowe, IBM Vice President of Strategic Alliances, and Raejeanne Skillern, Intel Vice President of Data Center Group and ...
Oct. 24, 2016 11:45 AM EDT Reads: 1,525
Data is the fuel that drives the machine learning algorithmic engines and ultimately provides the business value. In his session at Cloud Expo, Ed Featherston, a director and senior enterprise architect at Collaborative Consulting, will discuss the key considerations around quality, volume, timeliness, and pedigree that must be dealt with in order to properly fuel that engine.
Oct. 24, 2016 10:45 AM EDT Reads: 3,879
Virgil consists of an open-source encryption library, which implements Cryptographic Message Syntax (CMS) and Elliptic Curve Integrated Encryption Scheme (ECIES) (including RSA schema), a Key Management API, and a cloud-based Key Management Service (Virgil Keys). The Virgil Keys Service consists of a public key service and a private key escrow service.
Oct. 24, 2016 10:15 AM EDT Reads: 1,080
Fact is, enterprises have significant legacy voice infrastructure that’s costly to replace with pure IP solutions. How can we bring this analog infrastructure into our shiny new cloud applications? There are proven methods to bind both legacy voice applications and traditional PSTN audio into cloud-based applications and services at a carrier scale. Some of the most successful implementations leverage WebRTC, WebSockets, SIP and other open source technologies. In his session at @ThingsExpo, Da...
Oct. 24, 2016 09:00 AM EDT Reads: 2,329
Fifty billion connected devices and still no winning protocols standards. HTTP, WebSockets, MQTT, and CoAP seem to be leading in the IoT protocol race at the moment but many more protocols are getting introduced on a regular basis. Each protocol has its pros and cons depending on the nature of the communications. Does there really need to be only one protocol to rule them all? Of course not. In his session at @ThingsExpo, Chris Matthieu, co-founder and CTO of Octoblu, walk you through how Oct...
Oct. 24, 2016 08:15 AM EDT Reads: 3,162