The importance of data has changed. As the volume, variety and velocity of the data grew over the past few years, the data has been transformed to provide organizations a broader, more granular and more real-time range of customer, product, operational and market interactions. Today, business leaders see data as a monetization opportunity, and their organizations are embracing data and analytics as the intellectual capital of the modern organization.
The Internet of Things is accelerating this drive towards “data monetization.” However organizations are quickly learning that you don’t necessary monetize the data as much as you monetize the customer, product, and operational insights derived from the data to create new revenue opportunities: new products, new services, new channels, new markets and new partnerships (see Figure 1).
The power of data in healthcare is nothing new. In 1846, a Hungarian doctor named Ignaz Semmelweis collected data to uncover why so many women in maternity wards were dying from childbed fever. After several outlandish theories, he discovered that medical students were transferring cadaverous particles from autopsies and thus one of the first infection-control hand-washing protocols was born. As a result, the rate of childbed fever fell dramatically. By using data to reach his conclusion, Dr. Semmelweis was a data scientist before his time. (more…)
Alok is the Senior Director of EMC Education Services, where he architects EMC education initiatives, including the industry-leading EMC Proven Professional program, EMC’s Academic Alliance, and “Information Storage and Management” one of the leading textbooks on storage technologies. He provides vision and leadership to a team of highly talented experts that develops world-class technical education on cloud, big data, and storage technologies. Previously, he built and led a highly successful team of EMC presales engineers in Asia Pacific/Japan and also served as a Systems Manager, Storage Manager, and a backup/restore/disaster recovery consultant working with some of the world’s largest data centers and IT installations. He holds dual Masters degrees from the Indian Institute of Technology and the University of Sagar.
Big data analytics enable the most important business asset: information. Every business regardless of industry must plan to create a big data analytics function. It takes data-based decision making to a whole new level, helping drive efficiency, quality, and growth. Technology, platforms, and tools are evolving very rapidly, revealing a bigger issue: finding expertise and talent. (more…)
EMC’s Federation Business Data Lake (FBDL) announcement has been a long time in the making. It’s been a perfect storm of industry trends that enable big data and make data lakes a feasible data architecture option. These trends include:
Data Growth – Web applications, social media, mobile apps, sensors, scanners, wearable computing and the Internet of Things are all generating an avalanche of new, more granular data about customers, channels, products and operations that can now be captured, integrated, mined and acted upon.
Cheap Storage – The cost of storage is plummeting, which enables organizations to think differently about data. Leading organizations are transitioning from viewing data as a cost to be minimized to valuing it as an asset to be hoarded. Even if they don’t yet know how they will use that data, they are transitioning to a “data abundance” mentality.
Limitless Computing – The ability to bring to bear an almost limitless amount of computing power to any business problem allows organizations to process, enrich and analyze this growing wealth of data, uncovering actionable insights about their customers and their business operations. (more…)
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