Big data has been such a hot topic lately that it seems to be battling cloud computing as the buzzword of the year. A recent article in ITBusinessEdge, titled Just the Stats: Big Numbers About Big Data, provides some thought provoking information about the use of Information Optimization in the retail and healthcare industries, as well as in business in general.
There are more possibilities than just the traditional perspective of the data itself. With all the computing capabilities available today, much more can be done with the abundance of data and computing. Opportunities exist in nearly every industry, both for static data as well as understanding the implications of data on the move or turning data into the context needed to make decisions.
The speed and motion characteristics of data generation and transportation can be just as meaningful as the data payload itself. One of the places this is most evident today is in the social networking space. But within business, similar metadata possibilities exist:
The answers to these questions provide insight into the appetite of the organization – just like the derivative in mathematics is more meaningful for certain situations, predicting where objects will be.
Another very powerful aspect is the relationship of the data to other data:
We can analyze these new data and relationships in ways that were just not possible before. This is one of the ways stock market manipulation is identified – by looking at the relationships between transactions.
Finally, we can merge corporate data with data from other sources, like data.gov (which just turned two-years-old) and other large public data sets for analysis, in addition to internal systems that may have never had their data cross-pollinated. We now have the computing and bandwidth capabilities, it is just our imaginations that are limited.
How are you using your company’s data? What computing capabilities are you using to analyze data and what challenges have you come across?
Check out these HP resources on making your data work for you: