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What’s all the “(Big) Data Hype” all about anyway?

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Its been a long time I blogged, it feels good to get back to it again. With all the digital data around it sure is difficult to take some time out to think what does it all mean anyway. This blog post is an attempt in this direction. We have been hearing the statement “Data is the next intel inside” for some time now. A recent statement by IBM CEO “Data is the next natural resource” is really a much stronger statement and needs some introspection into.What’s all the (Big) Data hype all about anyway?

As predicted here a decade ago, data has grown explosively in the 3-Dimensions of Volume, Variety and Velocity. The database landscape graph here is good portrayal of how the tech community is trying to address this problem in the different dimensions.   As of 2012, about 2.5 exabytes of data are created each day. The info graphic below shows some sources for this data.

 

Given that there is already a huge amount of digital data existing and much more being created everyday why should be care? I was recently at the CeBIT tech exhibition show with the theme “Shareconomy” and how (Big) Data driven “Smart” applications are and will change the world was a common theme at different exhibits. While cloud computing (be it IaaS, PaaS & SaaS) has mostly focused on reduced infrastructure costs its really value is in ability to enable companies learn from the data usage and help them focus on things that really matter for their customers. New business models are enabled by big data. While some companies like Salesforce see the data deluge as an opportunity to build “facebook like” user interface for enterprise end users to ease consumption. Other companies like KhanAcademy leverage the data to create a “flipped classroom” education platform where “learning” is emphasized than “teaching”. Data enables “feedback loops” to “validate learning” which is the key principle for lean startups to enable sustainable business. Advances in IT enable leveraging the unstructured (big) data with the structured (enterprise) data to engage with customers in new ways in real time. Products and services are being built much faster and customer acceptance measured to improve or kill the new offering based on such “experiments” in real time. Such “Agile” enterprises are the one setting the “speed of innovation” for their industries. Facebook’s recently announced “Home” interface for mobile highlights the importance about owning the data interface to end users. If you can “engage” the users you can have a greater impact on your companies bottom line. This quality is best highlighted by Amazon and its letter to its shareholders is very insightful in this regard.

Given that (Big) data is important how can we best profit from it? Given that we live in ever increasingly digital (thanks to our mobile devices) world we need to be smart as to where we are engaging in the “digital world” and why. “Time” is the critical resource and we need to use it in the optimal way. (Big) data needs “Big filters” to help us not be drowned in the data. One needs to develop skills to do “Data driven experiments” to learn from the “consumption” patterns to create sustainable business value. While “Open Data” access to different data sets is partly driving the current (Big) data hype. Its important to ensure “openness” of critical data sets at the same time taking care of the privacy and intellectual property rights concerns.

We will have much more data in the future, thanks to devices like goolge glass. Given a lot of IT innovations are still needed to make Big data vision a reality we will do well to enable this data driven disruption than be surprised by it.

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Written by srinivasreddy

May 3, 2013 at 10:00 am

Posted in Mobile, opendata, SAP, Technology

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