I was recently on a panel at the HP Vertica Big Data Conference: Driving the Future of Big Data Analytics. The show itself provided valuable insights into both how other companies are using HP and its ecosystem, as well as the way folks are beginning to incorporate big data analytics into their solutions.
Although each person on the panel focused on a different set of technologies (video analytics, network security, and in Empirix’s case, communications technologies), we all had taken a similar journey.
In the Beginning…
The starting point is the traditional Business Intelligence (BI) infrastructure. There’s no question that it’s invaluable to have the ability to take data available and use it to better understand market demands and gain a competitive edge. A tool set was developed to handle data and allow users to come to useful conclusions. But that data was limited.
As the internet grew, so did the amount of data produced. And then came mobile – and the sheer magnitude of the data available exploded.
Enter Big Data
Every customer leaves a trail. Networks carry billions of messages every second to query databases, ensure interoperability, measure Quality of Service (QoS), access content, deliver services, download applications, and more. And rate of data production is increasing at mind-blowing speeds. How much information are we talking about? Check out this Infographic on How Much Data is Created Every Minute.
It quickly became clear that traditional BI systems couldn’t scale to handle this type of “Big Data.” You could no longer get maximum value from the data available. And if you tried, you would expand a huge amount of resources – and still be unable to extract the answers you needed.
A new set of tools had to be developed, combining leaders with vision, teams with advanced skill sets, and technologies that could handle this dazzling array of information.
Today’s Business Analytics Solutions
The Big Data environment holds many possibilities. It’s exciting to imagine the ways we will be able to transforms multiple customer, network, and operational data streams into valuable insights that reveal key trends and illuminate micro causes.
Organizations can revolutionize service with analytic solutions that will help them make smarter decisions, build stronger customer loyalty, and reduce churn. Messaging can be customized and companies can design experiences to make customer engagements more useful, targeted, and fun.
But in order to make this data accessible, organizations have to have the right technology – something powerful enough to be able to analyze and correlate the data so it becomes useful. And imagine what you can do using a dashboard that allows you to quickly manipulate data and customize reports for specific job functions.
As time goes on, I see organizations using the data they have not only to make decisions about their current situations, but also to predict how they can meet upcoming customer needs or reach out to customers before a problem arises. Service and solutions will be tailored and personalized in a way that feels natural and increases loyalty.
How do you envision Big Data revolutionizing your business opportunities? Let me know in the comments below.