Rethink BI : Business Insights over Business Intelligence
The purpose of this business insights thought leadership blog is to share the HP point of view on industry trends such as Big Data and Real Time Analytics, and provide updates on key innovations and solutions.

Big Data - the new black gold?

Written by Irshad Raihan, Product Manager, HP ConvergedSystem 300 for Vertica

 

Part 1 of a 4-part series

 

 

A Fundamental Shift in Business

 

Forget mining for gold or drilling for oil. The world of business has shifted its attention to mining data and manufacturing it into useful information. ROI now means Return on Information – ROI that can be used to increase or keep customers, improve healthcare delivery, or generate new services in almost every industry segment.

 

There’s a staggering amount of data being generated every day and a large portion of that is unstructured data from tweets, internet postings, texts and emails. Every 60 seconds, 1,860,000,000,000+ bytes of data are created from these real-time, social sentiment sources. It’s no wonder that CXO’s are perplexed about how to find the business value within this flood of data. 59% of business executives admit their organizations are not equipped with the right solutions to gain insight from big data. But there is an opportunity cost to not doing anything about it. In the next 5 years, success will be defined by the value enterprises derive from analyzing and acting upon this explosion of information.

 

In this first post, I’ll review the four main Big Data challenges which are driving organizations to find new technologies, tools and solutions for converting data into the ‘new black gold'.

 

Stale technology  

Much of the data storage and processing technology used today was built in the 1970’s and 80’s. It was intended for simple searches of structured data (rows and columns) with not much variety in the types of data stored or analyses performed. Today, the data coming in from social sources are unstructured, real-time and in huge volumes (remember the figure, 1,860,000,000,000+ bytes, above). Organizations need Big Data technologies that scale instantly for speed and cost effectiveness to accommodate volume and velocity. They need technologies with high analytic performance and high availability to address variety and vulnerability.

 

Lack of talent

Because many staff have been brought up with older technology, they don’t have experience using newer programming paradigms. In addition, data scientists who can bridge the gap between IT and the business are hard to find.

 

IT frustration

No doubt, IT has become essential to the success of organizations. This comes as both a blessing and curse to IT departments. They have been squeezed to take cost out of operations, challenged to correctly assess and procure new infrastructure, and called upon by an increasing number of internal clients for real-time information. They support a growing number of tasks and functions. Some are simply having trouble keeping the lights on. But the situation will get worse as data grows and the demands from lines of business continue to escalate.

 

Lack of insight

Garbage in – garbage out says it all. Band-aids to stale technology will only work for so long but eventually will not yield the insights promised or required. New technologies and tools don’t have to happen all at once but organizations do have to plan for Big Data holistically. Organizations must address the 4 V’s – volume, variety, velocity and value.

 

Watch out for part 2 of this series on Big Data – The New Black Gold? next week.

 

View the video, http://www.youtube.com/watch?v=1wGE5hdzg6A&feature=player_embedded

Go to these HP resources for more information.

www.hp.com/go/haven

www.hp.com/go/bigdata

www.hp.com/go/convergedsystems

 

 

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About the Author
Technology marketing professional with over 25 years of experience in energy, semiconductor and IT industries.


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