{"id":5789,"date":"2011-08-09T14:55:50","date_gmt":"2011-08-09T14:55:50","guid":{"rendered":"http:\/\/www.smartdatacollective.com\/index.php\/post\/four-steps-success-big-data\/"},"modified":"2011-08-09T14:55:50","modified_gmt":"2011-08-09T14:55:50","slug":"four-steps-success-big-data","status":"publish","type":"post","link":"https:\/\/www.smartdatacollective.com\/four-steps-success-big-data\/","title":{"rendered":"Four Steps to Success with Big Data"},"content":{"rendered":"

\"big<\/p>\n

Author: Amanda Brandon
Spotfire Blogging Team<\/p>\n

<\/p>\n

\"big<\/p>\n

Author: Amanda Brandon
Spotfire Blogging Team<\/p>\n

Benjamin Woo (@benwoony<\/a>), program vice president of worldwide storage systems research and the voice of Big Data for IDC (@IDC<\/a>) set the tone for a Big Data focus that\u2019s all about \u201cvolume, variety, velocity and value\u201d at the Implementing Information Infrastructure Symposium (#IIIS<\/a>) in Sydney, Australia last week.<\/p>\n

Defining Big Data<\/strong><\/p>\n

First, Woo defined the term Big Data as simply the \u201cability to derive value through technology.\u201d In a recap<\/a> of his presentation from ARN, we learn that \u201cthe concept [of Big Data] is not new.\u201d What is new is the way we are using it, says Woo.<\/p>\n

\u201cThe newness that we are talking about here is related to economics, accessibility to technologies and to the fact that we have put together all the data sources in the world,\u201d says Woo.<\/p>\n

<\/span>Big Data Lends a Competitive Edge<\/strong><\/p>\n

While he predicts Big Data affecting all business operations on a daily basis, he says the areas most affected are \u201cdecision support and automation interface, analytics and discovery, data organization and management as well as infrastructure.<\/p>\n

That\u2019s huge. And companies that don\u2019t focus on it could lose a competitive edge, as we\u2019ve written before<\/a> on the blog.<\/p>\n

The Four Vs of Big Data<\/strong><\/p>\n

Woo recommended four keys or \u201cfour Vs\u201d to making Big Data work for your organization:<\/p>\n

    \n
  1. Volume <\/strong>\u2013 Big companies produce Big Data. But it\u2019s important for companies of all sizes to embrace it. Larger enterprises have to do it more quickly because competitors \u201care more likely to be doing the same thing.\u201d<\/li>\n
  2. Variety <\/strong>\u2013 The more sources, the better, Woo says. He recommends collecting data from as many social services (Facebook, Twitter, YouTube) and less-considered sources including mobile devices and bar codes as well as good ole data entry.  This will become even more important as companies adopt a social business model<\/a>.<\/li>\n
  3. Velocity<\/strong> \u2013 The key here is for businesses to clean up data and deal with it quickly through \u201canalytics and discovery work.\u201d In a Computerworld wrap up<\/a> of his presentation, he says if \u201cIT staff looked at data analytics, they could start bringing those into the organization and make them part of the process of IT.\u201dAs Marcus Borba (@marcusborba<\/a>) says in his hot 2011 BI trends updates<\/a>, \u201cIncreasing demands for decision support and operational BI are forcing IT organizations to come up with faster solutions \u201cspeed of change can make a traditional BI project obsolete before it\u2019s even rolled out, so agility is becoming the new buzzword in some companies.\u201d<\/li>\n
  4. Value<\/strong>\u2013 Acting on data is how we create opportunities and derive value, says Woo.\u201dBig Data is all about supporting decisions, so when you are looking at decisions that can have billions of dollars worth of impact, you are going to want as much information as possible to support your case,\u201d he says.<\/li>\n<\/ol>\n

    What\u2019s Next for Big Data?<\/strong><\/p>\n

    Woo believes the largest challenge facing companies is knowing what to do with Big Data. He says the ultimate action item is to \u201csimplify infrastructure and architectures\u201d and to spend time \u201cmaking the CEO and customer happy.\u201d And that includes using Big Data to feed them information.<\/p>\n

    Next Steps<\/strong><\/p>\n

    Stay tuned to the Spotfire blog for more coverage on Big Data this week and follow the TDWI World Conference on Twitter this week (#TDWI<\/a>).<\/p>\n

    Amanda Brandon
    Spotfire Blogging Team<\/p>\n

    \"\"<\/p>\n","protected":false},"excerpt":{"rendered":"

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