Making the most of Big Data Analytics

Nov 12
11:43

2015

Innes Donaldson

Innes Donaldson

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Making the most of Big Data Analytics.

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Big data might be a controversial term but it remains one of the most talked about areas of business IT. The reason is simple enough: customers,Making the most of Big Data Analytics Articles partners and employees are creating huge amounts of structured and unstructured information. Estimates suggest 90 per cent of the world’s data has been generated in the past two years. Any IT organisation that takes a proactive stance now is more likely to develop the type of intelligence that will generate a future competitive edge for the rest of the business. 

Technologies that create the type of insight the business craves, such as business intelligence and analytics, are in high demand. But are CIOs really getting a grip on the sources of information? How will they use specialists, like data scientists, to create new knowledge for the business? The key in so many ways is to ensure the new technology will be embraced and businesses will know in part how to best use and integrate this type of technology into their day to day running and operations. The growth of data and the rise of online marketing means CIOs must adopt a servant leadership model. 

Data analysis is nothing new. Even before computers were used, information gained in the course of business or other activities was reviewed with the aim of making those processes more efficient and more profitable. These were, of course, comparatively small-scale undertakings given the limitations posed by resources and manpower; analysis had to be manual and was slow by modern standards, but it was still worthwhile. Data analysis is big business and big data as a whole has been around for many years to date as a means to being at the centre of the running of a business, no matter the kind of business it may be. The advent of the internet and faster computing has meant that huge quantities of information can now be harvested and used to optimise business processes. This also means businesses can be run in a more remote manner also.

‘Big Data’ is the emerging discipline of capturing, storing, processing, analysing and visualising these huge quantities of information. The data sets may start at a few terabytes and run to many petabytes – far more than traditional data analysis packages can handle. As a discipline and a concept, the key is to ensure businesses are ready to strive to make the most of Big Data in the most up to date and effective manner.